Pops & Drops: Google, Netflix
Following are the day’s biggest winners and losers. Find out why shares of Google and Netflix popped while Regions Financial and Cintas dropped.
POPS (stocks that jumped higher)
Google (GOOG) popped 2%. The Internet search giant broke above $600, a technically important level. - I'm bullish, reminds Karen Finerman.
Netflix (NFLX) popped 6%. The stock moved on speculation Amazon may be interested in acquiring this company. - Lots of rumors, adds Tim Seymour.
Electronic Arts (ERTS) popped 4%. The video game developer closed higher on chatter that Rambus could be eyeing the name for a takeover. - I like this stock, says Guy Adami.
Red Hat (RHT) popped 5%. The firm posted strong earnings due to improved margins. - Impressive, says Pete Najarian.
Yahoo! (YHOO) popped 4%. Morgan Stanley resumed coverage of the firm with an ‘overweight’ rating and $20 price target. - I'd rather be in Google, says Karen Finerman.
Tenet Healthcare (THC) popped 4%. Leerink Swann raised the stock to ‘outperform’ from ‘market perform’ citing margin improvement. - I like UNH better, says Guy Adami.
Micron (MU) popped 6%. The memory chip maker beat on earnings due to higher sales. - Across the board, everything looked strong, says Pete Najarian.
DROPS (stocks that slid lower)
Regions Financial (RF) dropped 3%. New data showed the rate of mortgage delinquencies increased. - All the regional banks suffered on the news, says Tim Seymour.
Cintas (CTAS) dropped 11%. The largest U.S. uniform supplier reported disappointing quarterly results and told analysts their earnings expectations were too high. The company's fortunes are closely tied to job creation, especially in industries like manufacturing and auto production.
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Trader disclosure: On Dec. 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; Finerman Owns (GLNG); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (MSFT), (WMT), (GLNG); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (BAC), (EEM), (INTC), (POT); Najarian Owns (MS) & Short (MS) Calls; Najarian Owns (MGM); Najarian Owns (HK) Call Spread
For Brian Nagel
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