Following are the day’s biggest winners and losers. Find out why shares of Chesapeake Energy and Home Depot popped while Apollo Group and U.S. Bancorp dropped.
POPS (stocks that jumped higher)
Chesapeake Energy (CHK) popped 6%. Reuters reported speculation of a take over by British energy group BP. - I'd wait and see, counsels Pete Najarian.
Home Depot (HD) popped 5%. The retailer said it will cut 7,000 jobs and exit its design showroom business to focus on its main home-improvement stores. - They're trying to get back to business, muses Jeff Macke.
State Street (STT) popped 5%. UBS said it sees a merger with Goldman Sachs possible for the struggling bank, as analysts believe the company is an attractive takeover target. - We told you there was capitulation in this stock back on January 20th, reminds Guy Adami.
ING Groep N.V. (ING) popped 21%. The largest Dutch financial-services company said its CEO is resigning and that they’re working on a restructuring plan which includes 7,000 job cuts. - Intersting, says Tim Seymour.
Athenahealth (ATHN) popped 4%. After the CEO appeared on Fast Money last week, the stock hit a 52-week high. Investors believe that the Senate’s additional $3 billion for health-care related IT spending could be a big boost for this firm. - That's good for the stock, exclaims Pete Najarian.
Danaher Corp (DHR) popped 9%. The maker of Craftsman tools reported fourth-quarter earnings that beat the Street’s estimates, despite posting restructuring charges and costs on the acquisition of Tektronix.
H.J. Heinz (HNZ) popped 3%. Barron’s wrote a favorable report on the company, saying it could become a takeover candidate, and the stock could rise this year due to its low valuation.
DROPS (stocks that slid lower)
Apollo Group (APOL) dropped 2%. Barron’s said education stocks may not be as good a play as they seem citing high valuations.
Rohm & Haas (ROH) dropped 13%. Dow Chemical no longer intends to close its pending $15.3 billion acquisition of the company on or before Tuesday, the deal’s deadline.
U.S. Bancorp (USB) dropped 11%. Goldman Sachs added the firm to the conviction sell list saying it is overvalued compared to its peers.
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Trader disclosure: On Jan. 26th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (F), (FXI), (PBR); Seymour Owns A Short Position In (SNE); Seymour's Firm Owns (BIDU); Macke Owns (MS), (BAC), (SDS), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (PALM) Calls