Pops & Drops: Google, Macy's...
Following are the day’s biggest winners and losers. Find out why shares of Google and Macy’s popped while LDK Solar and American Express dropped.
POPS (stocks that jumped higher)
Google (GOOG) popped 3%. The Internet search engine climbed along with the broad technology sector. - Move on, says Zach Karabell.
Macy’s (M) popped 7%. Many analysts upgraded the stock saying that a slight uptick in the economy should lead the department store to higher earnings. - I'd play their debt and not the stock, counsels Karen Finerman.
Freeport-McMoRan (FCX) popped 4%. The miner of gold and copper climbed along with the spot price of most metals. - Copper inventories continue to diminish, exlains Guy Adami.
J. Crew Group (JCG) popped 7%. The retailer beat on fourth-quarter earnings and met the Street’s expectations with its first-quarter forecast.
United Parcel Service (UPS) popped 4%. Analysts say the firm is benefiting from less competition in the US now that DHL Express ended its domestic air and ground service.
Motorola (MOT) popped 3%. Oppenheimer upgraded the firm to “outperform” from “perform” saying there is too much pessimism surrounding the company.
Wendy’s Arby’s Group (WEN) popped 7%. Goldman upgraded the company to ‘buy’ and said their balance sheet is improving.
Cheesecake Factory (CAKE) popped 10%. Goldman upgraded the stock to “buy” on expectations of outperformance.
DROPS (stocks that slid lower)
General Electric (GE) dropped 4%. Despite recent strength this stock finished in negative territory. - It had a huge run and investors were taking profits, says Pete Najarian.
LDK Solar (LDK) dropped 14%. The firm reported a fourth-quarter loss and forecast revenue for the current quarter that missed analysts’ expectations. - Not so good, says Pete Najarian.
American Express (AXP) dropped 2%. Goldman downgraded the company to “Conviction Sell” citing earnings headwinds. - This stock is trading at such a trough it's probably worth a look, counsels Zach Karabell.
Athenahealth (ATHN) dropped 7%. Wal-Mart announced a plan to enter the digital health records field, making the retail giant a rival.
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Trader disclosure: On Mar. 11th, 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); Najarian Owns (GDX), (MSFT); Najarian Owns (COF) Call Spread, (FCX) Call Spread, (GS) Call Spread, (PCU) Call Spread, (X) Call Spread, (XHB) Call Spread, (GLD) Put Spread; Najarian Owns (MS) & (MS) Calls; Karabell Owns (AAPL), (BHP), (FCX), (FXI), (GOOG), (GLD), (GE), (JPM); Finerman's Firm Owns (MSFT); Finerman's Firm Owns (DNA) & (DNA) Calls; Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Own (RIG); Finerman Owns (WFC) Preferred; Finerman's Firm Is Short (BBT), (IYR), (IJR), (IWM), (MDY), (SPY), (USO)