Hartford Financial (HIG) popped 15%. Barron’s said the company is stronger than investors might think, and that the stock looks cheap. - If you're looking for volatility this is the place, exclaims Pete Najarian.
Amazon.com (AMZN) popped 4%. The largest Internet retailer continued its climb with investors remaining impressed by their recent earnings report.
Mariner Energy (ME) popped 9%. The oil and gas producer announced success at 3 exploration wells in the Gulf of Mexico.
DROPS (stocks that slid lower)
Mattel (MAT) dropped 16%. The toymaker posted a quarterly profit far below Wall Street estimates, crushed by weak sales and a stronger dollar. - The results were bad, bristles Jeff Macke.
Hitachi (HIT) dropped 10%. The maker of nuclear reactors, household appliances, and disk drives slashed its yearly outlook on concerns that demand for electronics will deteriorate further. - Japan's in trouble, warns Tim Seymour.
NYSE Euronext (NYX) dropped 12%. Analysts cut their ratings and price targets on this stock citing the potential impact of dropping European currencies. - Goldman cut them, explains Karen Finerman.
DryShips (DRYS) dropped 26%. The shipper said it’s likely saddled with $650 million in debt for the building of an offshore oil-drilling business it wants to spin off. - Jeff Macke doesn't know what to say.
ADC Telecommunications (ADCT) dropped 35%. The maker of phone equipment lowered its first-quarter outlook due to dropping demand.
Vimpel-Communications (VIP) dropped 10%. Weakness in Russia’s currency, the ruble, dragged down this and other Moscow based stocks.
Las Vegas Sands (LVS) dropped 15%. The casino said it expanded its management team and appointed new execs for its Asian operations which investors interpreted as more money being spent on Macao.
Currencyshares British Pound Ster. Trst (FXB) dropped 2%. The ETF, which reflects the price of Britain’s pound, dropped on speculation the Bank of England will cut rates.
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Trader disclosure: On Feb. 2nd, 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), (FXI); Macke Owns (DIS), (MS), (SDS), (MCD); Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (XBI), (IBB); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO); Najarian Owns (AMGN) Call Spread; Najarian Owns (BMY) Calls; Najarian Owns (DRYS) Stock & (DRYS) Puts; Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GDX) Call Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (V) Call Spread