Pops & Drops: Dollar Tree, Jacobs Engineering...
Following are the day’s biggest winners and losers. Find out why shares of Dollar Tree and Williams-Sonoma popped while CSX Corp and Jacobs Engineering dropped.
POPS (stocks that jumped higher)
Dollar Tree (DLTR) popped 5%. The largest seller of items costing a dollar or less said second quarter earnings jumped 51%. - When Dollar Tree performs so well it speaks to me about the state of the economy, exclaims Pete Najarian.
Williams-Sonoma (WSM) popped 11%. The cookware seller beat on second quarter profits due to cost cuts and raised outlook. - I don't love the name but the story is undeniable, says Steve Cortes.
Lowe's (LOW) popped 2%. Strong reports about the state of housing lifted shares of this home improvement store. - I think the better stock in the space is Home Depot, says Guy Adami.
LDK Solar (LDK) popped 5%. The China based solar company said it will help develop new projects in the country’s Yancheng City. - I'd stay away, counsels Steve Cortes.
DROPS (stocks that slid lower)
CSX Corp (CSX) dropped 3%. Weakness in commodities dragged down this rail stock, as concerns about the economy linger. - I think they go even lower, speculates Guy Adami.
Morgan Stanley (MS) dropped 2%. This stock traded in tandem with the entire financial services sector, lower. - I think we see strong revenue from Morgan in the next few quarters, speculates Joe Terranova.
Jacobs Engineering (JEC) dropped 3%. Johnson Rice downgraded the engineering firm to underweight from equalweight citing slow demand from the oil and gas sector. - I like this stock and I'd want to be long, counsels Joe Terranova.
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Trader disclosure: On Aug. 26th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Terranova Owns (AMZN), (MSFT), (SU), (XOM), (WFT); Terranova Owns (CCL) Puts; Terranova Is Short (SHLD), (EES); Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Cortes Owns (SPX), (GS); Cortes Is Short Nasdaq 100; Cortes Is Short (JPM); Najarian Owns (BAC); Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian Owns (C) Calls; Najarian Owns (FCX), Is Short (FCX) Calls, Owns (FCX) Puts; Najarian Owns (HGSI) Call Spread; Najarian Owns (INTC) Calls; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (TXT) Calls; Najarian Owns (TEVA); Najarian Owns (V) & Short (V) Calls; Najarian Owns (YHOO) Call Spread; Najarian Owns (XHB) Call Spread