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Pops & Drops: Gamestop, Eastman Chemical

Following are moves you might have missed. Find out why shares of Gamestop and Eastman Chemical popped while Carefusion

POPS (stocks that jumped higher)

Gamestop (GME) popped 5%. The video game make announced it would buy back $300 million in stock. - I'm not sure I'd jump into this one, says Pete Najarian.

Eastman Chemical (EMN) popped 4%. The company raised its already-upbeat earnings forecasts and said prices have held up. - Valuations are fair but I hate chasing it up here, says Guy Adami.

Cabot Oil & Gas (COG) dropped 4%. Lazard downgraded the stock to ‘Hold’ from ‘Buy’ saying technical indicators appear bearish. - $27.41 is the 52-week low, says Joe Terranova. I wouldn't buy but if you do use the low as a stop.

Covidien (COV) popped 5%. The company forecast robust growth next year in its medical devices division.

DROPS (stocks that slid lower)

Carefusion (CFN) dropped 1%. Drug wholesaler Cardinal sold its remaining 13.7 percent stake in the medical device company it spun off in 2009. - I'd own this stock right here, says Karen Finerman.

Netflix (NFLX) dropped 2%. Investors took profits after Credit Suisse upgraded the stock to ‘Neutral’ from ‘Underperfrom’ and released data which showed 37 percent of Netflix subscribers aged 25 to 34 substitute Netflix for pay television. - Fast Money EP John Melloy writes about the Credit Suisse report in-depth in his blog. Click here to go to "Third of Young Netflix Users Cut Cable"




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Trader disclosure: On Sept. 16th, 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 (APA), (AAPL), (ARUN), (BMO), (C), (DO), (EOG), (FCX), (FTO), (XBI), (GS), (HES), (IBM), (JOYG), (MA), (NBR), (NOV), (OXY), (ORCL), (PEP), (POT), (RSH), (GLD), (SLB), (SWN), (SU), (SPLS), (RIG), (UPL), (VRTS); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman’s firm is short (ANF); Finerman & Finerman’s firm own (CFN); Finerman & Finerman’s firm own (HPQ); Finerman owns (ORCL); Finerman owns (WMT); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts; Pete Najarian owns (F) bonds; Pete Najarian owns (POT) call spreads; Pete Najarian owns (RIMM) call spreads; Pete Najarian owns (DD) call spreads; Pete Najarian owns (GDXJ) call spreads

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 (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 (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 (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DLUEY)
Virtus Investment Partners own more than 1% of (DRYS)

For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (RIMM)
Accounts managed by Kanundrum Capital own (ALK)
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital are short (OIH)
Accounts managed by Kanundrum Capital are short (IAI)
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short (BA)

For Dennis Gartman
Funds managed by Gartman own Gold
Funds managed by Gartman own Australian Dollars
Funds managed by Gartman own Canadian Dollars
Funds managed by Gartman are short Euros

For Peter Boockvar
***No Disclosures***

For Brian Stutland
***No Disclosures***

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