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Pops & Drops: IMAX, Potash...

Tuesday, 29 Dec 2009 | 6:01 PM ET

Following are the day’s biggest winners and losers. Find out why shares of IMAX and Lockheed Martin popped while Potash and Halliburton dropped.

POPS (stocks that jumped higher)

IMAX (IMAX) popped 4%. Piper Jaffray named this company as its top small cap pick for 2010. - I love this stock, says Steve Cortes.

McMoRan Exploration (MMR) popped 7%. Investors liked what they heard as this company updated it exploration activities in the Gulf of Mexico. - Giddyup, says Pete Najarian.

Stock Pops & Drops
The Fast Money traders take a look at todayâ??s biggest market movers.

Lockheed Martin (LMT) popped 1%. Published reports said Egypt will buy 24 F-16 jets from the company, worth up to $3.2billion. - I'm bullish on the defense space, says Steve Cortes.

Jefferies (JEF) popped 2%. KBW upgraded the stock to ‘outperform’ from ‘market perform’ with a $30 price target. - I like this name right here, says Pete Najarian.

DROPS (stocks that slid lower)

Potash (POT) dropped 2%. This ag stock was one of many that traded off due to gains in the dollar. - I think $105 is support and I'm a buyer at that level, says Joe Terranova.

Halliburton (HAL) dropped 2%. Energy companies traded down as oil prices fluctuated and the market awaited new data on U.S. oil inventories due Wednesday. - I think the stock moves higher, says Steve Grasso.

Palm (PALM) dropped 4%. Reports suggested that the company had cut orders to suppliers for its Pre smartphone however Deutsche Bank argued the cuts may signal Verizon is going to carry the phone soon. Right now the Pre is carried exclusively by Sprint. - I'd establish at position at these levels, says Joe Terranova.

Advanced Micro Devices (AMD) dropped 1%. Year end profit taking sent shares lower.




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Trader disclosure: On Dec. 29th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders

For Pete Najarian:
Najarian Owns (MMR) Calls
Najarian Owns (BP) Call Spread
Najarian Owns (STX) Calls
Najarian Owns (UUP) Call Spread

For Steve Cortes:
Cortes Owns S&P 500
Cortes Owns U.S. Dollar
Cortes Is Short Godl
Cortes Owns (GD)
Cortes Owns (RTN)
Cortes Is Short (TOL)
Cortes Is Short (PHM)
Cortes Is Short Australian Dollar Futures
Cortes Is Short Mexican Peso Futures

For Steve Grasso:
Grasso Owns (APK)
Grasso Owns (AAPL)
Grasso Owns (ASTM)
Grasso Owns (BAC)
Grasso Owns (BGP)
Grasso Owns (C)
Grasso Owns (COST)
Grasso Owns (CSCO)
Grasso Owns (FAZ)
Grasso Owns (PFE)
Grasso Owns (PRST)
Grasso Owns (WMT)
Grasso Owns (V)
Stuart Frankel & Co. And Its Partners Own (AIZ)
Stuart Frankel & Co. And Its Partners Own (CUBA)
Stuart Frankel & Co. And Its Partners Own (GERN)
Stuart Frankel & Co. And Its Partners Own (GLG)
Stuart Frankel & Co. And Its Partners Own (HSPO)
Stuart Frankel & Co. And Its Partners Own (NWS.A)
Stuart Frankel & Co. And Its Partners Own (NXST)
Stuart Frankel & Co. And Its Partners Own (NYX)
Stuart Frankel & Co. And Its Partners Own (PDE)
Stuart Frankel & Co. And Its Partners Own (PRST)
Stuart Frankel & Co. And Its Partners Own (RDC)
Stuart Frankel & Co. And Its Partners Own (ROK)
Stuart Frankel & Co. And Its Partners Own (TLM)
Stuart Frankel & Co. And Its Partners Own (XRX)
Stuart Frankel & Co. And Its Partners Own (SDS)
Stuart Frankel & Co. And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. And Its Partners Are ShorT (CL)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)

For Dennis Gartman
Funds Managed By Dennis Gartman Own (IP)
Funds Managed By Dennis Gartman Own (DE)
Funds Managed By Dennis Gartman Own (WY)

For Luciano Siracusano
Siracusano Is Chief Investment Strategist Of WisdomTree And Is An Investor In WisdomTree ETFs
Siracusano Owns (EES)

For Jim Ross
Ross Is Senior Managing Director Of State Street Global Advisors And Is
President Of State Street Global Advisors Funds Management, Inc.
Ross Owns (JNK)
Ross Owns (GLD)

For Edward Zabitsky
Zabitsky Is Short (HPQ)

  Price   Change %Change
AMD
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HAL
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POT
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JEF
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MCMOP
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IMX
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  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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