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Pops & Drops: Blackstone, Apple...

Friday, 6 Mar 2009 | 6:46 PM ET

Following are the week’s biggest winners and losers. Find out why shares of Blackstone and Autozone popped while Apple and US Bancorp dropped.

POPS (stocks that jumped higher)

Blackstone (BX) popped 21%. Shares may have turned a corner after the firm said it would cut its dividend in an effort to conserve cash and founder Stephen Schwarzman took a 99% pay cut. - They have $25 billion in dry powder, adds Pete Najarian.

Stock Pops & Drops
The Fast Money traders take a look at todayâ??s biggest market movers.

Autozone (AZO) popped 7%. The largest U.S auto-parts retailer reported second quarter earnings that beat analysts’ estimates. - Also, they made a 52-week high, adds Guy Adami.

Ciena (CIEN) popped 13%. Credit Suisse upgraded the firm to ‘neutral' from ‘underperform’ and the company said it reduced operating expenses. - They've got a good cash position and cost efficiencies, adds Pete Najarian.

Family Dollar (FDO) popped 10%. The discount retailer posted a bigger than expected increase in same store sales for its latest quarter.

EOG Resources (EOG) popped 5%. This firm and Exxon signed a preliminary deal with Turkey’s state-owned oil company to explore fields in and around that nation.

DROPS (stocks that slid lower)

Apple (AAPL) dropped 4%. JP Morgan lowered its second-quarter outlook for the company citing the deepening macro-economic downturn. - I'd keep an eye on this stock next week, counsels Jon Najarian.

US Bancorp (USB) dropped 38%. The company announced a quarterly dividend cut. - If the whole mark-to-market thing goes through I think this stock doubles, speculates Guy Adami.

Aetna (AET) dropped 15%. Investors bid this and other insurance companies lower on concerns that Obama’s overhaul of the health care system could slash profits. - They're right in the cross hairs of the Obama administration, says Karen Finerman.

Ann Taylor (ANN) dropped 48%. The retailer reported a loss of $1.03 a share, much wider than analysts expected and said it would have to draw down half of its $250 million revolving credit line. - I'd expect to see lower numbers in the stock going forward, says Jon Najarian.

Merck (MRK) dropped 6%. The Senate introduced a proposal that would allow Americans to import drugs from other countries at significantly lower costs. - Again, in the Obama cross hairs, says Karen Finerman.

Caterpillar (CAT) dropped 5%. New government data showed manufacturing contracted in the month of February.

PNC Financial (PNC) dropped 32%. The company announced it would slash its dividend by 85% to 10-cents.




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Trader disclosure: On Mar. 6th, 2009, 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); Najarian Owns (GDX); Najarian Owns (DNA) Calls; Najarian Owns (FCX) Spread; Najarian Owns (GLD) Put Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (PNC) Put Spread; Najarian Owns (X) Call Spread; Najarian Owns (V) & (V) Calls; Najarian Owns (WFC) & (WFC) Calls; Finerman Owns (WFC) Preferred; Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Owns (DNA) & (DNA) Calls; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (MSFT), (PBR), (RIG), (TGT); Finerman's Firm Is Short (VNO), (BAC), (BBT), (IYR), (IJR), (IWM), (MDY), (SPY), (USO); J. Najarian Owns (AA), (FDO), (M); J. Najarian Owns (MS) & (MS) Puts; J. Najarian Owns (BAC) Preferred; J. Najarian Owns (FAS)

  Price   Change %Change
PNC
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CAT
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AET
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USB
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CIEN
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AZO
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AAPL
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Contact Fast Money

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  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report

  • Jay Yarow, The Business Insider, and Steve Milunovich, UBS, discuss whether Tim Cook is to blame for Apple's drop in growth. I think it's pretty clear they missed the big phone market and overestimated the success of the plastic 5C phone, says Milunovich.

  • CNBC's Eamon Javers reports on Bill Ackman's stake in Allergan. Javers says this is a classic case of insider trading that is not against the rules.

  • FMHR trader Josh Brown thinks Dunkin' Brands looks fantastic technically, while Mike Murphy says investors are questioning the company's massive expansion plans.