Pops & Drops: Alcoa, Oracle...
Following are the day’s biggest winners and losers. Find out why shares of Alcoa and Oracle popped while Ciena and Wells Fargo dropped.
POPS (stocks that jumped higher)
Alcoa (AA) popped 3%. The company struck a deal with Italy’s government after the European Commission ordered it to pay back most of the state aid it had received in Italy since 2006. - I think it tops around $13.50, says Tim Seymour.
Oracle (ORCL) popped 3%. The company said it was upbeat about the European AntiTrust hearing on its proposed takeover of Sun Microsystems. - It's worth watching, says Guy Adami.
Pall Corp (PLL) popped 9%. The maker of filters for refineries closed higher, largely due to a forecast that beat the Street's views. - A good day for filters, chuckles Karen Finerman.
T. Rowe Price (TROW) popped 3%. Jefferies upgraded this firm to 'buy' from 'hold' while Goldman Sachs upgraded US asset managers to 'attractive' from 'neutral'. - I like Raymond James the best, says Guy Adami.
St. Jude Medical (STJ) popped 3%. Rival heart device maker Edwards Lifesciences Corp. said it expects a sales boost.
DROPS (stocks that slid lower)
Ciena (CIEN) dropped 11%. The maker of fiber optic gear reported a larger than expected quarterly loss. - This may be an opportunity, muses Pete Najarian.
Wells Fargo (WFC) dropped 2%. Investors took down this stock on weaknes in rival Citigroup. - I would think the steeper yield curve is good for them, says a puzzled Tim Seymour.
Smithfield Foods (SFD) dropped 3%. The firm posted a second quarter loss due to weak pricing power.
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Trader disclosure: On December 10th, 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 (MSFT), (WMT), (AAPL), (FLS); Finerman's Firm Is Short (IJR), (IWM), (SPY), (MDY); Finerman's Firm Is Short (UNG); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spread; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (WFC) Preferred; Seymour Owns (AAPL), (EMM), (INTC), (PFE), (TKC), (BAC), (FXI), (GE), (POT); Seymour's Firm Owns (MTL); Najarian Owns (BRCD), ; Najarian Owns (PFE); Najarian Owns (TEVA); Najarian Owns (AAPL) Calls; Najarian Owns (DELL) Calls; Najarian Owns (FCX) CAlls Spread; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (TXN), Is Short (TXN) Calls; Najarian Owns (RIMM) Call Spread
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