Pops & Drops: Aetna, Caterpillar...
Following are the day’s biggest winners and losers. Find out why shares of Aetna and other managed care companiespopped while Caterpillar and BB&T dropped.
POPS (stocks that jumped higher)
Aetna (AET) popped 5%. The dwindling prospect of a government-run health insurance plan lifted the shares of this and other managed care companies. - Speaking of rival UnitedHealth earlier in the show Guy Adami said, "I'd take profits."
DROPS (stocks that slid lower)
iShares China ETF (FXI) dropped 5%. The China ETF moved in tandem with the Shanghai Index which just recorded its biggest drop since November. - I think it continues to go down, speculates Tim Seymour.
Caterpillar (CAT) dropped 4%. Investors grew worried that the global recovery may be weaker than expected. - I think the stock slips to $40, says Guy Adami.
BB&T (BBT) dropped 6%. The bank announced plans to sell $750 million in stock to bolster capital. - In the long-term I think the offering is a positive, says Karen Finerman.
Freeport-McMoRan (FCX) dropped 7%. Investors bid this and other commodity-related stocks lower on worries that a global recovery might take longer than expected. These names are typically most sensitive to economic weakness. - I just love this stock, exclaims Pete Najarian.
Alcoa (AA) dropped 7%. The world’s biggest aluminum maker moved in tandem with the spot price of aluminum and most other commodities, lower. - I think the stock is a buy around $11, says Tim Seymour.
Rosetta Stone (RST) dropped 27%. The company cut its third-quarter earnings outlook and scrapped a proposed stock offering barely a week after announcing it. - I think this stock could go down even more, speculates Guy Adami.
InterDigital (IDCC) dropped 24%. A ruling Friday favored rival Nokia in a patent infringement case.
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Trader disclosure: On Aug 17th, 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), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (BAC); Najarian Owns (BBT) Call Spread; Najarian Owns (C) Calls; Najarian Owns (FCX), Is Short (FCX) Calls, Owns (FCX) Puts; Najarian Owns (HD) September And Is Short (HD) August Calls; Najarian Owns (HPQ) September Calls And Is Short (HPQ) August Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (UNH) Calls; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman's Firm Owns (MSFT), (TGT), (WMT), (CTX); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO), (XRT); Finerman's Firm And Finerman Own (PDE); Seygem Asset Management Is Short (BIDU); Seymour Owns (AAPL); Seymour Owns (BAC); Seygem Asset Management Is Short (FXI)
For Jeff Tomasulo:
Tomasulo Is Short (IBM)
Tomasulo Owns (JPM)
For Pip Coburn:
Coburn's Fund Owns (AAPL), (ANSS), (ADBE), (SY)
Coburn's Fund Is Short (PALM)