Pops & Drops: eBay, General Motors...
Following are the day’s biggest winners and losers. Find out why shares of eBay and General Motors popped while ConocoPhillips and Steel Dynamics dropped.
POPS (stocks that jumped higher)
ISHARES MSCI Emerging Markets ETF popped 4%.The emerging markets ETF pops today as crude oil gains.
Wal-Mart (WMT) popped 3%. With new confidence that Congress is unlikely pass a Pro-Union rule, the retailer's bottom line may look a little sweeter.
AT&T (T) popped 4%. The phone company pops today as it plans on expanding its 3G network and outlines plans for investing in its central New York wireless network.
General Motors (GM) popped 17%. The struggling automaker pops as it says it doesn’t need an additional $2 billion in aid to survive through March
A pop for Kia Motors. A pop for the Kia Sorento, Bernie Madoff's vehicle of choice. The now-jailed Madoff showed up to his hearing in lower Manhattan driving the economy-class vehicle. Madoff now faces as many as 150 years in prison after entering a guilty plea.
HMO’S (CIG, AET) popped. HMO’s gained ground as healthcare stocks rally on positive trial results from Pfizer alongside more merger activity.
Medtronic (MDT) popped 5%. The medical-device maker pops as Wachovia says it has gained market share for implantable defibrillators.
eBay (EBAY) popped 4%. The online marketplace and auction site jumps after giving a positive sales outlook and says its expects PayPal to become a big moneymaker for the firm.
A pop for Chelseay "Sully" Sullenberger. The heroic pilot who landed the US Airways jet in the Hudson River earlier this year has now landed himself a book deal... worth $3 million. William Morrow, a division of HarperCollins, has agreed to pay Chelsey Sullenberger for two books - a memoir and a book of inspirational poetry.
The New York Times (NYT) popped 8%. The publisher pops as it puts its 12 year old corporate jet up for sale for $9.5 million.
Smithfield Foods (SFD) popped 34%. The world’s biggest pork processor pops after its third-quarter loss was less than expected due to strength in its pork unit
Hanes Brands (HBI) popped 30%. The maker of Champion sweats and Hanes T’s pops after reaching more relaxed terms on a debt covenant
DROPS (stocks that slid lower)
Steel Dynamics (STLD) dropped 15%.The steel maker drops after cutting its first quarter outlook due to weak demand.
ConocoPhillips (COP) dropped 2%. The oil company drops as the company gives a poor outlook, saying output will be flat for the next few years.
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Trader disclosure: On Mar. 12th, 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 (COF) Call Spread, (FCX) Call Spread, (GDX), (GS) Call Spread, (GLD) Put Spread, (GE) Calls, (JPM) & (JPM) Calls, (MS) & (MS) Calls, (MSFT), (X) Call Spread, (XHB) Call Spread; Seymour Owns (AAPL), (T), (BAC), (EEM), (FXI); Finerman's Firm Is Short (IJR), Short (IWM), Short (MDY), Short (SPY), Short (USO), Owns (MSFT), (DNA) Calls, (BAC) Preferred, (WFC) Preferred, (WFC) Preferred, Short (BBT), Owns (RIG), Owns (PBR); J. Najarian Owns (MS), (WFC), (COF), (FAS), Is Short (SKF)