Morgan Stanley (MS) dropped 3%. Barclay’s said that there’s little reason to expect third-quarter results from the bank will show any significant upside to expectations. - It's back below $30, says Joe Terranova. It's the same scenario as Q1 when they had to take a mark up!
Microsoft (MSFT) dropped 3%. Goldman Sachs removed the stock from its Americas Conviction Buy list, saying Microsoft may have one more soft quarter. - I think it's dead money, speculates Guy Adami.
J. Crew Group (JCG) dropped 6%. Investors took profits fearing weak economic data could translate into a weak consumer. - I think it's still too expensive, says Karen Finerman.
United Airlines (UAUA) dropped 21%. News that the carrier would sell 19 million common shares sent investors for the exits. - Airlines are volatile, reminds Guy Adami.
Oil Service HLDRS ETF (OIH) dropped 3%. The ETF that tracks the spot price of crude closed lower with the stronger dollar pressuring this commodity. - I wouldn't jump off this trade so quickly, says Joe Terranova.
Walmart (WMT) dropped less than 1%. On a day like today we’ll take whatever we can get – including this small drop in the retail giant, only down 9 cents.
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Trader disclosure: On October 1, 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): Finerman's Firm Owns (BAC) Preferred Shares, (BAC), (BAC) Call Spreads: Finerman Owns (BAC) Preferred Shares And (BAC): Finerman's Firm And Finerman Own (WFC) Preferred Shares: Finerman's Firm Owns (DRI), (MSFT), (YUM), (BKC): Finerman's Firm Is Short (CAKE), (TLT), (IJR), (IWM), (SPY), (MDY), (USO), (UNG), (TLT): Terranova Owns (XOM) Calls: Terranova Owns March Sugar Futures: Terranova Owns December Crude Oil Futures: Terranova Owns December Gold Futures: Terranova Is Short (GRMN), (ESS), (CCL), (WYNN): Najarian Owns (ACI) Call Spread: Najarian Owns (C) Calls: Najarian Owns (DELL) Call Spread: Najarian Owns (ERTS) Calls: Najarian Owns (GE) Calls: Najarian Owns (MSFT) And Is Short (MSFT) Calls: Najarian Owns (RIMM) Call Spread: Najarian Owns (ORCL): Najarian Owns (TEVA): Najarian Owns (WFC) Put Spread: Najarian Owns (YHOO) Call Spread
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