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)