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Fast Money DisclaimerFast Money BiosAbout Fast MoneyRapid RecapFast Money Home
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Jan.29
6:09 PM ET
Thursday, 29 Jan 2009
Pops & Drops: 3M, Ford....

Pop & Drop
Following are the day’s biggest winners and losers. Find out why shares of 3M and AutoNation popped while Eastman Kodak and Ford dropped.

POPS (stocks that jumped higher)

3M (MMM) popped 2%. The maker of Post-It notes beat estimates despite an 11% drop in sales. - I like it as a valuation play, says Guy Adami.

AutoNation (AN) popped 5%. The auto dealership group said on Thursday that profit rose 30 percent in the fourth quarter on cost-cutting and a gain from a tax adjustment. - I wouldn't get involved, counsels Guy Adami.

Western Digital (WDC) popped 10%. The disk drive maker posted quarterly results that beat scaled-back expectations after it slashed costs to offset dwindling demand. - Guy Adami doesn't know what to say.

DROPS (stocks that slid lower)

Eastman Kodak (EK) dropped 30%. The firm posted a sharp quarterly loss and said it would cut up to 4,500 jobs this year after suffering a dramatic decline in demand for digital cameras and commercial printing equipment. - The big surprise is that this company still exsits, says a sarcastic Jeff Macke.

SPDR S&P Homebuilders ETF (XHB) dropped 7%. A Commerce Department report said that sales of new homes in the U.S. fell to their lowest level on record. - Not terribly hard to believe, muses Zach Karabell.

Oshkosh (OSK) dropped 31%. The firm said on Thursday it was cutting its workforce 7 percent and withdrawing its 2009 earnings forecast as it scrambles to deal with a downturn in business. - That's bad, says Pete Najarian.

Ford (F) dropped 4%. The automaker posted a deeper-than-expected $5.9 billion quarterly loss and said it was cutting 2,500 white-collar jobs. - Not so good, says Jeff Macke.

AstraZeneca (AZN) dropped 7%. The UK’s second-largest drugmaker reported fourth quarter profit fell below estimates and said it will have little sales growth this year. - Generics could also be a concern, reminds Zach Karabell.

US Airways (LCC) dropped 11%. Fuel hedging burned this carrier along with other airlines.  The attempt to mitigate the high price of fuel ultimately became a liability. - No good, says Zach Karabell.

Fortune Brands (FO) dropped 11%. The firm posted much lower-than-expected profit, as consumers scaled back home remodeling projects, and forecast 2009 results well below Wall Street estimates. - In this economy you'd think people would be drinking more, muses Dylan Ratigan.

Zimmer Holdings (ZMH) dropped 12%. The orthopedic device maker posted a lower quarterly profit, still above Wall Street's forecast, but a weaker-than-expected outlook for 2009. - People are putting off surgery, explains Zach Karabell.

Black & Decker (BDK) dropped 21%. The tool maker warned of a double-digit fall in sales for the first three quarters of 2009 on weakening demand, and said it would cut 1,200 jobs. - Not so good, says Pete Najarian.

Pops & Drops
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Trader disclosure: On Jan. 29th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (SDS), (MSFT), (TM); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Karabell Owns (AAPL), (CL), (DRYS), (FCX), (GOOG), (JPM), (NVDA), (NOK), (CINA); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (SQNM) & (SQNM) Short Calls; Najarian Owns (PALM) Calls

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