Following are the week’s biggest winners and losers. Find out why shares of Citigroup and Boeing popped while Research In Motion and Novell dropped.
POPS (stocks that jumped higher)
Hartford Financial (HIG) popped 17%. Deutsche bank raised its price target by 25% to $25. - I'd stay away, says Steve Grasso.
Citigroup (C ) popped 11%. Published reports said that billionaire investor John Paulson bought a 2% stake in the company. - I think the charts look good, says Joe Terranova.
Human Genome (HGSI) popped 21%. Options activity fueled speculation that this company could be a takeover target. - I've lightened up my position, reveals Jon Najarian.
Advanced Micro Devices (AMD) popped 20%. Citi upgraded the firm to ‘buy’ from ‘hold’; also rival Intel raised revenue estimates. - I would not be a buyer, says Guy Adami.
Boeing (BA) popped 11%. The aviation giant won a $1 billion government contract and said the much delayed Dreamliner should take the air this year.
Novellus (NVLS) popped 12%. The maker of equipment used to make chips jumped as Intel reported stronger-than-expected demand for its microprocessors.
Pacific Sunwear (PSUN) popped 21%. Pali Capital upgraded shares to ‘buy’ from ‘neutral’ citing low expectations for the stock.
DROPS (stocks that slid lower)
Research In Motion (RIMM) dropped 5%. Investors took profits after new concerns about the state of the recovery.
Novell (NOVL) dropped 6%. A Jefferies analyst said Friday that revenue growth for this company is "still elusive," and reiterated a "Hold" rating on the provider of computer networking software and technology services.
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Trader disclosure: On Aug 28th, 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); Jon Najarian Owns (AAPL), (BTU), (NVLS); Jon Najarian Owns (C) Calls; Grasso Owns (AAPL), (ABK), (ASTM), (BA), (BAC), (C), (COST), (CSCO), (PRST), (V), (WMT), (FAZ); Terranova Owns (AMZN), (FCX), (BTU), (SU), (WFT), (AAPL); Terranova Is Short (SHLD); Terranova Is Short (ESS); Terranova Owns (CCL) Puts
GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC
For Steve Grasso
Stuart Frankel And Grasso's Partners Own (CUBA)
Stuart Frankel And Grasso's Partners Own (DVN)
Stuart Frankel And Grasso's Partners Own (EOG)
Stuart Frankel And Grasso's Partners Own (GERN)
Stuart Frankel And Grasso's Partners Own (HSPO)
Stuart Frankel And Grasso's Partners Own (MSFT)
Stuart Frankel And Grasso's Partners Own (NWS.A)
Stuart Frankel And Grasso's Partners Own (NXST)
Stuart Frankel And Grasso's Partners Own (NYX)
Stuart Frankel And Grasso's Partners Own (PDE)
Stuart Frankel And Grasso's Partners Own (PRST)
Stuart Frankel And Grasso's Partners Own (RDC)
Stuart Frankel And Grasso's Partners Own (ROK)
Stuart Frankel And Grasso's Partners Own (TBT)
Stuart Frankel And Grasso's Partners Own (TLM)
Stuart Frankel And Grasso's Partners Own (XOM)
Stuart Frankel And Grasso's Partners Own (XRX)
Stuart Frankel And Grasso's Partners Own (SDS)
Stuart Frankel And Grasso's Partners Own (STWD)
Stuart Frankel And Grasso's Partners Are Short (QQQQ)
Stuart Frankel And Grasso's Partners Are Short (CL)
For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.|
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE)
Virtus Diversifier PHOLIO Owns (DBC)
Virtus Diversifier PHOLIO Owns (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (SKT)
Virtus Investment Partners Owns More Than 1% Of (TNB)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (CLB)
