Following are the day’s biggest winners and losers. Find out why shares of Ticketmaster and Electronic Arts popped while Wal-Mart and Archer Daniels Midland dropped.
POPS (stocks that jumped higher)
Ticketmaster (TKTM) popped 13%. The entertainment firm is in merger talks with Live Nation to create a new company that would be a mega-powerhouse of the music business. - I wonder if there will be antitrust issues, muses Karen Finerman.
Electronic Arts (ERTS) popped 11%. The world’s second-largest video-game publisher missed on third quarter earnings but announced extensive cost cutting measures including one focused on core money-making video games. - I think the news is probably in the stock, says Jeff Macke.
Metlife (MET) popped 4%. Fourth-quarter profits beat analysts’ estimates as the company’s customer base grew. - I'm concerned about their commercial real estate exposure, says Karen Finerman.
Riverbed Technology (RVBD) popped 7%. Fourth-quarter results beat estimates and the company increased its first quarter forecast.
DROPS (stocks that slid lower)
Wal-Mart (WMT) dropped 3%. The world’s largest retailer warned that’s its second quarter earnings will likely be lower than expected, and the company won’t be issuing full-year guidance. - Retailers are dead to me, exclaims Jeff Macke.
Textron (TXT) dropped 22%. The maker of Cessna aircraft said it has drawn the balance of a $3 billion committed credit line – concerning investors about the company’s future obligations. - Not good, says Guy Adami.
Rambus (RMBS) dropped 15%. The company’s patent infringement lawsuit against firms such as Micron and Samsung was delayed. - That's a problem, exclaims Pete Najarian.
Archer Daniels Midland (ADM) dropped 8%. The ag company reported strong second quarter earnings but warned investors that the global slowdown could soon start affecting its business. - It's interesting around $24, says Guy Adami.
Massey Energy (MEE) dropped 12%. The coal producer cut its 2009 production forecast due to continued decline in demand for steel. - When demand comes back so should these guys, muses Pete Najarian.
Wynn Resorts (WYNN) dropped 10%. Morgan Stanley cut earnings estimates for this casino and said cost-reduction plans signaled "extraordinary pressure" in Las Vegas. - I'd avoid this stock, says Jeff Macke.
Philip Morris Int'l (PM) dropped 4%. The cigarette maker reduced its 2009 profit outlook due to the dollar’s strength. - This is a stock that I like, reminds Karen Finerman.
Ryder System (R ) dropped 13%. Fourth-quarter earnings fell 85% due to a slowdown in demand and restructuring charges; also the company reduced its 2009 outlook.
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Trader disclosure: On Feb. 4th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (TM), (DIS), (MS), (SDS), (AAPL); Finerman's Firm Owns (DNA) & (DNA) Calls; Finerman's Firm Owns (MSFT), (PM); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (BBT); Najarian Owns (BMY) Calls; Najarian Owns (CSCO) Call Spread; Najarian Owns (CAT) Call Spread; Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Calls; Najarian Owns (GDX) Call Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (V) Call Spread
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