Following are the day’s biggest winners and losers. Find out why shares of American Express and Guess? popped while American Eagle and TiVo dropped.
POPS (stocks that jumped higher)
American Express (AXP) popped 2%. The credit card company announced plans to sell about $1billion in credit card debt. Buyers have until September 3rd to act. - I think Visa makes more sense, says Steve Cortes.
MBIA (MBI) popped 18%. The stock moved up on technicals with options activity anticipating the sharp move higher. - I'd wait for a pullback, counsels Pete Najarian.
Greenhill & Co (GHL) popped 4%. Goldman upgraded the broker to ‘neutral’ from ‘sell’ saying it expects increased merger activity and stock sales. - See how it trades at $76, but it's a name I still like, says Guy Adami
Oshkosh Corp (OSK) popped 24%. The truck maker won a contract with the US Army to produce up to 23,000 vehicles. - I'm a buyer, says Steve Cortes.
Guess? (GES) popped 11%. At least one brokerage upgraded the firm and six others raised their price targets after the apparel maker soundly beat Wall Street estimates. - It could go higher still, says Guy Adami.
Jo-Ann Stores (JAS) popped 9%. The fabric and crafts retailer posted first-quarter results that topped market estimates. - I'd move to the sidelines, counsels Joe Terranova.
DROPS (stocks that slid lower)
American Eagle (AEO) dropped 4%. The teen retailer reported a 52% drop in second quarter earnings due to weak sales. - I think they're losing business to Aeropostale, speculates Joe Terranova.
TiVo (TIVO) dropped 3%. The company disappointed investors with a second quarter loss and projected worse than expected third quarter numbers. - I think the big pop came a few weeks back, says Pete Najarian.
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Trader disclosure: On Aug 27th, 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), (FCX), (BTU), (SU), (XOM), (WFT); Terranova Is Short (SHLD), (EES); Terranova Owns (CCL) Puts; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (AAPL) Call Spread; 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 (JPM) & Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (PALM) Calls; Najarian Owns (TXT) Calls; Najarian Owns (TEVA); Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFT) Call Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (XHB) Call Spread; Cortes Owns (SPX), (GS); Cortes Is Short Nasdaq 100; Cortes Is Short (JPM); J. Najarian owns (DELL) Calls ; J. Najarian Owns (AAPL) & Short (AAPL) Calls ; J. Najarian Owns (CHU)
