Bank Of America (BAC) popped 10%. On CNBC widely followed analyst Meredith Whitney said the firm is "bar none" the cheapest of bank stocks compared to its tangible book value.” - Thank you Meredith Whitney, chuckles Karen Finerman.
Bruno. The Sacha Baron Cohen flick topped the box office in its opening weekend, bringing in $30.4 million. The Universal film about a gay Austrian fashion reporter beat out Transformers, which held the number one spot for the past 2 weeks.
Caterpillar (CAT) popped 4%. Published reports suggest the soft dollar could spark export interest in corn, wheat and more. - About 66% of their revenue comes from overseas, reminds Pete Najarian.
Best Buy (BBY) popped 4%. Oppenheimer upgraded the company to ‘outperform’ from ‘perform’ saying the company is trading at very low multiples.
Rockwell Automation (ROK) popped 4%. JPMorgan upgraded the maker of auto controls to ‘overweight’ from ‘neutral’ citing potential for longer term upside.
DROPS (stocks that slid lower)
Dell (DELL) dropped 2%. Barron’s said the company has a weak strategic position and could be searching for acquisitions. - I still like this stock, says Guy Adami, but it's been a widow-maker for me.
American Dairy (ADY) dropped 45%. The company, which produces and distributes infant formula in China, expects sales of about $41 million for the quarter. On average analysts were expecting sales of $84 million, according to Reuters Estimates. - I don't think the results warrant the sharp move lower, says Tim Seymour. Personally I find it interesting.
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Trader disclosure: On July 13th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (GE) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (MFE) Calls; Najarian Owns (MS) Call Spread; Najarian Owns (NVLS) And Is Short (NVLS) Calls; Najarian Owns (XLF) Call Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (MSFT); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Is Short (BAC), Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares; Finerman's Firm Owns (YUM); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (IYR), (USO); Seymour Owns (AAPL), (BAC), (EEM), (FXI); Adami Owns (AGU), (C), (GS), (MSFT), (INTC), (NUE), (BTU); Finerman's Firm Owns (HPQ); Najarian Owns (JNJ) Calls; Finerman's Firm And Finerman Own (PDE); Najarian Owns (V) And Is Short (V) Calls
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