Pops & Drops: TD Ameritrade, Lions Gate...
Following are moves you might have missed. Find out why shares of TD Ameritrade and Zions Bancorp popped while Texas Industries and Lions Gate dropped.
POPS (stocks that jumped higher)
Texas Industries (TXI) popped 12%. The cement producer posted a smaller than expected quarterly loss after higher shipment volumes helped offset weak pricing. - A lot of shorts are getting pulled out of this stock, says Joe Terranova.
Lions Gate (LGF) popped 8%. Carl Icahn declared an end to his brief truce with the film studio, renewing his bid to take over the company and replace its board. - He's ba-a-a-ck, says Karen Finerman. But I wouldn't get involved.
State Street (STT) popped 5%. The firm said that higher fees and growing assets under management lifted it to a second-quarter profit, reversing a year-ago loss.- I like this stock, says Steve Grasso, but if it trades below $36.35 I'd bail.
DROPS (stocks that slid lower)
TD Ameritrade (AMTD) dropped 3%. Shares slumped as investor concerns about weak volumes in June trumped the online brokers better than expected profits. - I think investors got scared because of the flash crash, muses Pete Najarian.
Zions Bancorp (ZION) dropped 9%. The firm posted a wider-than-expected quarterly loss, prompting at least one brokerage to downgrade the stock. - I think it goes lower, says Brian Kelly.
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