Abercrombie & Fitch (ANF) dropped 3%. Cowen & Co. downgraded the company to ‘underperform’ from ‘neutral’ citing valuation and continued weakness in the sector. - I'd stay away, counsels Karen Finerman.
Biocryst Pharma (BCRX) dropped 5%. Investors sold the stock despite word that the company received $77 million in funding from the US Dept of Health for the development of its peramivir flu treatment. - It's down 25% over the last 3 days, adds Tim Seymour.
Potash (POT) dropped 4%. The fertilizer company reduced its full year EPS outlook Friday night, due to low sales volumes and continued weak demand. - Potash tends to trade in tandem with oil and the price of crude is slipping, explains Joe Terranova.
Bank Of New York (BK) dropped 2%. Goldman Sachs downgraded the rival bank to ‘neutral’ from ‘buy’ saying revenues may fall short of estimates.
Moody’s (MCO) dropped 6%. Investors just don’t know what to make of this stock. As we've mentioned in the past this company faces a very powerful lawsuit involving how it rated mortgage-backed securities.
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Trader disclosure: On Sept. 21st, 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), (AAPL), (BAC), (EEM), (FITB), (INTC), (RIMM), (RIG), (SBUX); Seymour's Firm is Short (PBR); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman Owns (RIG); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC); Finerman Owns (WFC) Preferred Shares; Finerman's Firm Owns (MSFT), (NOK), (PBR), (WMT), (RIG), (TGT), (PLCE), (HPQ); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Terranova Owns (FCX) Puts; Terranova Owns (CAT) Puts; Terranova Is Short (WFC); Terranova Is Short (AA); Terranova Is Short (WYNN); Terranova Is Short (JWN)
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