Lazard (LAZ) popped 13%. The firm reported higher-than-expected second-quarter earnings on Wednesday, helped by strength in its restructuring business, and Lazard increased its dividend. - I think it's a great play, says Guy Adami.
Daimler (DAI) popped 3%. The German automaker reported a loss, which was not as bad as expected and said they expect gradual improvement in profitability. - They're also getting a benefit from cash for clunkers, adds Tim Seymour.
DROPS (stocks that slid lower)
ArcelorMittal (MT) dropped 7%. The firm reported a worse than expected loss and said steel prices could remain flat or fall slightly next quarter. - Demand is recovering, says Tim Seymour. I'd keep an eye on this one.
Royal Caribbean (RCL) dropped 15%. The cruise line posted a quarterly loss and cut its 2009 forecast as fears about the flu and the weak economy dampen travel demand. - I think it could go to $11, says Guy Adami.
Sprint Nextel (S) dropped 12%. The company posted a larger than expected loss citing a decline in subscribers.
Moody's (MCO) dropped 8%. The company said second-quarter profit fell 19 percent as weak economies and tight credit markets curbed demand for credit ratings.
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Trader disclosure: On July 29th, 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 (FXP) Long Calls; Najarian Owns (MET) Long Calls; Najarian Owns (BAC); Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (MS) & Short (MS) Calls; Najarian Owns (MSFT) & Short (MSFT) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (V) & Short (V) Calls; Najarian Owns (YHOO) Call Spread; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU);Terranova Owns (MSFT), (MCD), (AMZN); Terranova Works For (VRTS) ; Seymour Owns (BAC), (BHI), (FCX), (SBUX), (EEM); Seymour's Firm Is Short (PBR), (PTR)