Pops & Drops: Royal Caribbean, Lowe's...
Following are the day’s biggest winners and losers. Find out why shares of Royal Caribbean and Lowe’s popped while US Airways and Moody’s dropped.
POPS (stocks that jumped higher)
Royal Caribbean (RCL) popped 2%. Citi increased its price target to $34 from $20 and Raymond James boosted the company to ‘outperform’ from ‘market perform.’ - I can't get on board, says Joe Terranova.
Lowe’s (LOW) popped 2%. Despite a cautious earnings outlook, FBR upgraded the company to ‘outperform’ from ‘market perform’. - I like HD much better, says Joe Terranova.
AIG (AIG) popped 1%. The gains stem from a belief the government will relax the terms of its bailout. - If you want volatility this is the place to go, says Pete Najarian.
DROPS (stocks that slid lower)
US Airways (LCC) dropped 14%. The airline said it planned to sell 26.3 million shares to the public. - That pressures the stock, says Pete Najarian.
Moody’s (MCO) dropped 8%. A former analyst at the company accused them of issuing inflated ratings and will testify before the House Cmte on Oversight & Govt. Reform. - It seems like the bad news keeps piling on, muses Karen Finerman.
Walter Energy (WLT) dropped 8%. FBR downgraded the firm to ‘market perform’ from ‘outperform’ citing valuation and near-term pricing risk. - I wouldn't fight it, says Tim Seymour.
Autozone (AZO) dropped 7%. Fourth quarter earnings missed estimates, but the company did see a rise in same store sales. - With people trading in clunkers for new cars, this company loses the do-it-yourself crowd, says Karen Finerman
Massey Energy (MEE) dropped 8%. Macquarie cut the company to ‘neutral’ from ‘outperform’ citing slower demand from China. - The stock was overbought, muses Tim Seymour.
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Trader disclosure: On Sept. 23rd, 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 (F); Terranova Owns (F) Calls And (F) Puts; Terranova Works For (VRTS); Najarian Owns (ACI) Call Spread; Najarian Owns (C) Calls; Najarian Owns (DELL) Call Spread; Najarian Owns (ERTS) Call Spread; Najarian Owns (GE) Calls; 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 (ORCL); Najarian Owns (TEVA); Najarian Owns (V) And (V) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (MSFT), (NOK), (PBR), (WMT), (RIG), (TGT), (BDX); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman Owns (RIG); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC); Finerman Owns (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Seymour Owns (AAPL), (BAC), (RIG), (SBUX), (FXI), (F), (TTM)
For Jim Suva
Citigroup Owns (PALM)
Citigroup Has Received Compensation From (PALM)
Citigroup Is A Market Market In Securities of (PALM)
Citigroup Is A Market Market In Securities of (RIMM)
For Dennis Gartman
Gartman Owns Gold