Pops & Drops: Motorola, Eastman Kodak
Following are the day’s biggest winners and losers. Find out why shares of Massey Energy and Lazard popped while ArcelorMittal and Sprint Nextel dropped.
POPS (stocks that jumped higher)
Callaway Golf popped 13%.The maker of Big Bertha clubs reports earnings in line with estimates and pops today on an upgrade to ‘buy’ from ‘hold’ at Stifel Nicolaus. Today was the day to take profits on this name, says Joe Terranova.
Avon Products popped 8%.The world’s largest door-to-door cosmetics seller was up after beating on second quarter earnings. This is your consumer markets play, they're growing outside of the US "like crazy" says Tim Seymour.
Motorola popped 9%. The largest US mobile phone maker was on the rise after reporting a smaller-than-expected second quarter loss on cost cuts and forecasting improved earnings in the second half of the year. Karen Finerman still thinks it's off its lows.
DROPS (stocks that slid lower)
Eastman Kodak dropped 10%.The film company lower after reporting a loss that was worse than expected and forecasting a 2009 loss that falls on the low end of its projected range. They had a ridiculously horrible quarter, says Guy Adami, it's a company he wouldn't buy.
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