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Following are the day’s biggest winners and losers. Find out why shares of American Eagle and Nokia popped while Sun Microsystems and McGraw-Hill dropped.

POPS (stocks that jumped higher)

American Eagle (AEO) popped 8%. The teen retailer reported better-than-expected same store sales numbers. - I think the stock has room to run, speculates Joe Terranova.

Ciena (CIEN) popped 6%. The maker of fiber-optic network gear reported a narrower than expected loss, and cited improvement in gross margins. - And the CEO had a lot of positive comments about stability, adds Pete Najarian.

Nokia (NOK) popped 5%. The company will develop new tools to make it easier to create apps for its Internet platform. - I think it could increase revenues, muses Tim Seymour.

Caterpillar (CAT) popped 3%. The world’s largest maker of construction equipment popped as the ISM index rose to its highest level in 11 months. - I think they're in the sweet spot, says Joe terranova, but resistance is probably $50.

Cubist Pharma (CBST) popped 8%. Unusual options activity has led to speculation the company may be a takeover target. - Options were off the charts but there was no news, explains Pete Najarian.

Mechel OAO (MTL) popped 17%. The Russia-based steel and coking company moved higher on the prospect of tax breaks and Putin’s call for state banks to buy its bonds. - It was a short squeeze, explains Tim Seymour.

Urban Outfitters (URBN) popped 4%. SunTrust upgraded the stock to ‘buy’ from ‘neutral’ with a target price of $33.

DROPS (stocks that slid lower)

Sun Microsystems (JAVA) dropped 2%. European Union regulators launched an anti-trust probe into Oracle s takeover of Sun, saying the deal could mean higher prices and limited choice for database software. - No good, exclaims Guy Adami.

McGraw-Hill (MHP) dropped 10%. The parent of S&P fell sharply after a judge ruled McGraw Hill as well as Moody’s and Morgan Stanley must defend themselves against fraud claims. The suit potentially holds the companies accountable for not properly revealing the risk of investing in a fund that purchased bonds backed by subprime mortgages.

Pops & Drops
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Trader disclosure: On Sept. 3rd, 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) And Is Short (BAC) Calls; Najarian Owns (C) Calls; Najarian Owns (CBST) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (JPM) And Is 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 (PDE) Calls; Najarian Owns (SEPR) Time Spread; Najarian Owns (YHOO) Calls; Terranova Owns (FCX), (AMZN), (POT), (SU), (WFT); Terranova Owns December Gold Futures; Terranova Is Short (TM)

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 (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  (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)

Seymour Owns (AAPL), (AA), (BAC), (UNG)
Seygem Asset Management Is Short (FXI)
Seygem Asset Management Owns (MTL)
Terranova Owns (QCOM)
Seymour Owns (VIP)

CNBC.com and wires

© 2009 CNBC.com

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Current DateTime: 01:19:41 24 Nov 2009
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