Pops & Drops: Fluor, Sprint...
Following are the today’s biggest winners and losers. Find out why President Bill Clinton popped while shares of Fluor and Sprint dropped.
POPS (stocks that jumped higher)
Pop: Bill Clinton. Happy Birthday to the former US President, who spent his birthday in Las Vegas while attending the National Clean Energy Summit. Clinton held court at the famous Craftsteak Restaurant at the MGM Hotel.
DROPS (stocks that slid lower)
Fluor (FLR) dropped 6%. The engineering name traded to the downside as revenues for the quarter came in below analyst expectations. - This pullback is probably a great opportunity, says Pete Najarian, keep an eye on it.
Sprint (S) dropped 4%. The third largest US wireless carrier dropped after being cut to "Underweight" from "Neutral" at Piper Jaffray. - A $3 stock, the percentage loss is not too bad, says Karen Finerman.
YUM! Brands (YUM) dropped 4%. The owner of Pizza Hut and Taco Bell restaurant chains was cut to "Neutral" from "Buy" at UBS, citing sluggish US sales. - The stock keeps having trouble at $36, but I still like the name, says Guy Adami.
Bunge (BG) dropped 7%. The largest seller of fertilizer to Brazilian Farmers dropped after saying it plans to offer 10 million shares, which may dilute the value of existing equity. - Not a bad play, but stay out of the way, says Tim Seymour.
Tibco Software (TIBX) dropped 5%. The US software company poppsed after announcing that it was not seeking a buyer 24 hours after Germany's SAP AG said it was in talks to buy the company. - A 17% gain yesterday, it had a 5% pullback today, reminds Pete Najarian.
Wells Fargo (WFC) dropped 6%. Shares of Wells Fargo slipped today as the TARP oversight committee says smaller banks may need an additional $14 billion in capital to deal with troubled loans still on their books. - The whole space was down today, wait for more of a pullback today and then buy, says Karen Finerman.
Corning (GLW) dropped 2%. Corning dropped after announcing its LCD glass output will miss expectations this quarter as an earthquake has disrupted operations at a Japanese plant. - I think there are bigger problems for Corning than this, says Guy Adami.
Emerging Markets (EEM) dropped 2%. The emerging markets ETF dropped today on global profit taking. - China and India are feeling very heavy on reasonable volume, says Tim Seymour.
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Trader disclosure: On Aug. 11th, 2009, 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), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (BUCY) And Is Short (BUCY) Calls, Owns (FCX) And (FCX) Puts, Owns (INTC) And Is Short (INTC) Calls, Owns (MCD) Call Spread; Owns (MS) And Is Short (MS) Calls, Owns (MOS) Calls, Owns (PALM) Call Spread, Owns (YHOO) Call Spread; Finerman's Firm Is Short (USO), Short (IJR), Short (IYR), Short (IWM), Short (MDY), Short (SPY), Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman's Firm Owns (MSFT), (YUM), (NOK), (PBR), (WMT) (RIG), Finerman Owns (RIG), (TBT) Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Seymour Owns (AA), (AAPL), (MBT), (BAC), (BX), (EEM), (FCX), Is Short (PBR)
Regis Philbin Owns (WYNN), (FCX), (CAT), (AMD), (LSI), (UIS)
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