American Express (AXP) popped 7%. The largest US credit card company said it’s focusing on its core business of offering credit cards to the wealthy. - Earlier in the show Karen Finerman said she thought it could be a beneficiary of the TALF.
Advanced Micro Devices (AMD) popped 3%. Abu Dhabi took a $125 million stake in the company. - It's a 6 cent move -- giddyup, exclaims Pete Najarian.
FTN Consulting (FCN) popped 10%. The advisor to Circuit City continues to rally after beating on fourth quarter earnings and giving a strong full-year outlook yesterday.
PDL Biopharma (PDLI) popped 21%. The developer of antibodies for cancer treatments popped after fourth quarter earnings beat estimates.
TiVO (TIVO) popped 10%. Its fourth-quarter loss was not as bad as expected, due to decreased costs.
Vornado Realty Trust (VNO) popped 5%. Investors are optimistic that the TALF plan could help this property firm.
DROPS (stocks that slid lower)
Target (TGT) dropped 5%. Investors bid down this big box store along with the rest of retail. - There was a story out today that Bill Ackman's fund might be allowing redemptions and they were big into this stock, explains Karen Finerman.
MetLife (MET) dropped 17%. A new ruling requires insurers to increase the amount of capital they hold to back retirement investments with guaranteed returns, a big blow to already cash-strapped insurers. - They're all going to be looking for more TARP money, speculates Tim Seymour.
Goldman Sachs (GS) dropped 5%. The firm is charging 50 percent more than a year ago to guarantee rights offerings, to compensate for the risk that they may be forced to buy unwanted stock. - Maybe it's related to AIG, speculates Karen Finerman.
Home Depot (HD) dropped 5%. First Global downgraded the company to ‘Market Perform’ and pending sales of existing homes fell more than expected in January.
Gannett (GCI) dropped 24%. S&P cut its credit rating on the company to below investment grade, citing declining ad revenues.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On Mar. 3rd, 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 (MS), (TM), (AAPL), (MOS); Macke Owns (GE) Puts; Seymour Owns (EEM), (BAC), (FXI); Seymour's Firm Owns (BIDU), (COP); Najarian owns (GDX), (PALM), (BX); Najarian Owns (DNA) Calls; Najarian Owns (DOW) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (GE) Put Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MOS) & (MOS) Calls ;Najarian Owns (V) & (V) Calls; Finerman's Firm Owns (PBR), (RIG); Finerman's Firm Owns (DNA) & (DNA) Calls; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (BAC), (BBT), (VNO)