Pops & Drops: Dow Chemical, CKE Restaurants...
Following are the week’s biggest winners and losers. Find out why shares of Dow Chemical and CKE Restaurants popped while BorgWarner and Eastman Kodak dropped.
POPS (stocks that jumped higher)
Dow Chemical (DOW) popped 13%. CEO Andrew Liveris backed away from plans to sell the firm’s rapidly growing agricultural unit. - I want to see the profit report before I develop a thesis, says Joe Terranova.
CKE Restaurants (CKR) popped 7%. Although revenue has been weak, investors are betting that as the economy turns so will sales Carl’s Jr & Hardee’s. - In the space I like MCD or YUM better, says Guy Adami.
Anadarko (APC) popped 8%. The company discovered oil off the coast of Sierra Leone, opening up the potential for future discoveries in the area. - Good for them, says Karen Finerman.
Caterpillar (CAT) popped 10%. Investors turned bullish on construction after the Federal Reserve's Beige Book survey showed half of Federal Reserve districts saw evidence the U.S. economy had improved by the end of August. - When the cycle turns I think Caterpillar should become more profitable, speculates Tim Seymour.
Amazon (AMZN) popped 7%. BofA/Merrill upgraded the stock to a ‘buy’ from ‘neutral’ citing a resurgence in e-commerce. - I'm a buyer around $84.50, says Guy Adami.
AMR Corp (AMR) popped 30%. The parent of American Airlines shot higher after the company said it had bolstered its liquidity and planned to take steps that include buying new planes in a bid to return to profitability. - I think it's a short covering rally, says Guy Adami.
Nokia (NOK) popped 5%. New chips make it possible for the company to partner with Intel. Analysts had previously said Intel's chip-and-chipset platforms would be too power-hungry for Nokia handsets. - I'd take profits, counsels Tim Seymour. I did.
DROPS (stocks that slid lower)
BorgWarner (BWA) dropped 7%. KeyBanc said the company may miss on earnings due to weak European production and cut it to a ‘hold’ from ‘buy.” - I'm short, reveals Karen Finerman.
Eastman Kodak (EK) dropped 10%. The cash strapped company announced plans to raise $700 million through debt refinancing and use the money to help pay off loans potentially due in October 2010.
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Trader disclosure: On Sept. 18, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (NOK); Finerman's Firm Owns (BAC) Preferred Shares And (BAC), Finerman Owns (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO); Finerman's Firm Owns (APC); Finerman's Firm Is Short (BWA); Finerman's Firm And Finerman Own (RIG); Finerman's Firm Owns (WMT); Finerman's Firm Owns (ARO); Terranova Owns (AA) Puts; Terranova Owns (CAT) Puts; Terranova Owns U.S. Dollar Futures; Terranova Is Short (WFC), (HST), (JWN), (FCX)
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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)
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Virtus Investment Partners Owns More Than 1% Of (CAL)
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For Mark Mahaney
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (YHOO)
Citigroup Global Markets Or Affiliate In Past 12 Months Received Non-Investment Banking Compensation From (YHOO), (GOOG), (AMZN)
(YHOO), (GOOG), (AMZN) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Securities-Related)
(YHOO), (GOOG), (AMZN) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Non-Securities Related)
Citigroup Global Markets Is A Market Maker In (YHOO), (GOOG), (AMZN)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (YHOO)
Citigroup Global Markets Or Affiliates Owns 2% Or More Of (YHOO)
For Lee Amaitis
Cantor Gaming Provides Technology For Las Vegas Sands
Edeck and 'in-running' wagering is only legal in Nevada
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