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Pops & Drops: Noble Energy, AMD

Following are moves you might have missed. Find out why shares of Noble Energy and United Airlines popped while AMD and Office Depot dropped.

POPS (stocks that jumped higher)

Noble Energy (NBL) popped 3%. BMO upgraded the firm to ‘Outperform’ from ‘Market Perform’ and raised its price target to $85 from $78. - It's got to settle above the 200-day of $69.99 before I'm a buyer, says Joe Terranova.

UAL Corp. (UAUA) popped 2%. The merger with Continental won U.S. antitrust approval last week to create the world's largest carrier. - I'd take profits and use them to buy JetBlue, counsels Brian Kelly.

DROPS (stocks that slid lower)

Advanced Micro Devices (AMD) dropped 4%. Credit Suisse downgraded the firm after rival Intel warned of a slump in PC demand. - I think the stock goes lower, says Pete Najarian.

Office Depot (ODP) dropped 2%. Even at a 52-week low, investors couldn’t be convinced to step in and buy this name. - Good news and bad price action, muses Guy Adami.

Darden Restaurants (DRI) dropped 3%. Standpoint downgraded the company to ‘Hold’ from ‘Buy. ’ - I think it's a sell, says Michael Block.




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Trader disclosure: On Aug 30, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (AXP), (GS), (IBM), (QCOM), (AAPL), (GOOG), (BRCM), (TER), (MSFT), (C), (MRVL), (BMO), (V), (POT), (OXY), (GLD), (SU), (FCX), (APA), (XBI); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Pete Najarian owns (SCCO); Pete Najarian owns (TCK); Pete Najarian owns (PFE); Pete Najarian owns (CELG); Pete Najarian owns (CNI)

For Joe Terranova
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)

For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own U.S. Dollars
Accounts managed by Kanundrum Capital own (TBT)
Accounts managed by Kanundrum Capital own (RGR)
Accounts managed by Kanundrum Capital own Japanese Yen
Accounts managed by Kanundrum Capital own Swiss Franc
Accounts managed by Kanundrum Capital is short (XLF)
Accounts managed by Kanundrum Capital is short (IAI)
Accounts managed by Kanundrum Capital is short (MCO)
Accounts managed by Kanundrum Capital is short (RTH)
Accounts managed by Kanundrum Capital is short (RSX)
Accounts managed by Kanundrum Capital is short the U.K. Pound
Accounts managed by Kanundrum Capital is short the Australian Dollar

For Mike Khouw
Cantor Fitzgerald makes a market in (AAPL)

For Michael Block
***No Disclosures***

For Michael Darda
***No Disclosures***

For Richard Volpe
***No Disclosures***

For Ed Mills
***No Disclosures***

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