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Pops & Drops: Chico's, Jazz Pharmaceuticals...

Here are some moves you might have missed Wednesday — Find out why shares of Chico's and Jazz Pharmaceuticals popped.

Chico's (CHS) popped 10%: The specialty retailer reported a second-quarter profit that more than doubled from a year ago and topped the consensus analyst estimate by a penny.

Guy Adami, managing director at Drakon Capital, said the company trades at a fair valuation. He thinks there are enough shorts out there, so it could rally again Thursday.

Jazz Pharmaceuticals (JAZZ) popped 3%: The health care stock rallied after US regulators stated the company's fibromyalgia drug is safe and effective.

Joe Terranova, chief market strategist at Vitrus Investment Partners, is disappointed by its performance and recommends getting out of this stock.

Endo Pharmaceuticals (ENDP) popped 8%: Shares of the drug maker rallied Wednesday after the share price forecast was raised to $4 at Jeffries.

Pete Najarian, co-founder of optionMONSTER.com, thinks there is plenty of upside.

Dillards (DDS) popped 8%: The apparel and home furnishings business announced a stock repurchase plan to buy back roughly 250 million of its common stock.

Karen Finerman, president and co-founder of Metropolitan Capital Advisors, noted the company had better margins and better inventory.

SPDR S&P Homebuilders (XHB) popped 2%: The homebuilders exchange-traded fund is up a second day in a row after Citigroup offered the explanation that a slowdown may spur consolidation.

Steve Cortes of Veracruz recommends using this pop to sell. He is short the banks based on weak housing. He doesn't believe in this story.

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Trader disclosures for Aug. 18, 2010:

Joe Terranova
Terranova owns (AKAM)
Terranova owns (V)
Terranova owns (NRG)
Terranova owns (POT)
Terranova owns (OXY)
Terranova owns (GLD)
Terranova owns (BAX)
Terranova owns (MOS)
Terranova owns (PFE)
Terranova owns (SU)
Terranova owns (XBI)
Terranova owns (GOOG)
Terranova owns (LRCX)
Terranova owns (AXP)
Terranova owns (C)
Terranova owns (GS)
Terranova owns (BMO)
Terranova owns (MSFT)
Terranova owns (QCOM)
Terranova owns (FCX)
Terranova owns (APA)
Terranova owns (PEP)

Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (DRYS)
Virtus Investment Partners own more than 1% of (EXR)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (XLK)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)

Guy Adami
Adami owns (AGU)
Adami owns (BTU)
Adami owns (NUE)
Adami owns (C)
Adami owns (GS)
Adami owns (INTC)
Adami owns (MSFT)
Adami’s wife works at Merck

Karen Finerman
Finerman ‘s firm owns (AAPL)
Finerman and Finerman’s Firm owns (BAC)
Finerman owns (GOOG)
Finerman’s firm owns (GYMB)
Finerman’s firm owns (HPQ)
Finerman’s firm owns (JPM)
Finerman’s firm owns (RIMM)
Finerman’s firm owns (SKS)
Finerman’s firm owns (TGT)

Pete Najarian
Pete Najarian owns (GS) calls
Pete Najarian owns (HPQ) calls
Pete Najarian owns (RIMM) call spreads
Pete Najarian owns (X) calls
Pete Najarian owns (TCK) short calls
Pete Najarian owns (CNI) short callls
Pete Najarian owns (WDC) calls
Pete Najarian owns (STX) calls
Pete Najarian owns (TEVA)

Steve Cortes
Cortes is long (FCX)
Cortes is long the S&P 500
Cortes is long Canadian Dollars
Cortes is long Australian Dollars
Cortes is long Crude oil
Cortes is short (XLF)
Cortes is short the Japanese Yen
Cortes is short the British Pound
Cortes is short U.S. Treasuries

Gary Shilling
Funds managed by Shilling own U.S. Treasuries
Funds managed by Shilling own Eurodollar Futures

Eric Jackson
Jackson is short (JCP)
Jackson is short (DDS)
Jackson is short (SKS)
Jackson is short (JWN)
Jackson is short (BWS)

Ron Shah
***No Disclosures***

Mike Khouw
***No Disclosures***

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