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Pops & Drops: JC Penney, Fortune Brands...

Following are moves you might have missed. Find out why shares of JC Penney and Fortune Brands popped while CVS Caremark and The Gap dropped.

POPS (stocks that jumped higher)

JC Penney (JCP) popped 18% this week. Activist investor Bill Ackman, known to agitate for change, announced an increased stake in the retailer. In the filing, Ackman said J.C. Penney's stock is undervalued and he plans to discuss "business, assets, capitalization, financial condition, operations, governance, management, strategy and future plans," with the company. - I'd take profits, says Guy Adami.

Monsanto (MON) popped 5% this week. Deutsche Bank reiterated its Buy rating on the company with a $65 price target. Also executives predicted their new strategy would win back corn and soybean customers. - I'm a buyer, says Tim Seymour.

Genzyme (GENZ) popped 3% this week. Published reports suggested the firm’s board authorized a review of its strategic options, including reaching out to other companies, in an effort to fight off the hostile bid from Sanofi-Aventis.

DROPS (stocks that slid lower)

CVS Caremark (CVS) dropped 2% this week. The company warned that 2011 earnings per share growth could fall below its long-term goals as it spends money to streamline its pharmacy benefits management business. - I still like it, reveals Karen Finerman.

The Gap (GPS) dropped 2% this week. Despite strength in the industry generally, same store sales at this retailer fell in September.




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Trader disclosure: On Oct. 8, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (AA), (BAC), (GE), (GOOG), (INTC), (MON), (POT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (BTU), (NUE); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm And Finerman Own (CVS); Finerman's Firm Owns (GENZ); Finerman Owns (GOOG); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's Firm Owns (MSFT); Finerman's Firm Owns (POT) Calls; Terranova Owns (APA), (AAPL), (IBM), (OXY), (RSH), (UPL), (XBI), (JOYG), (C), (AXP), (SWN), (AGU), (EOG), (HES), (OIH), (ORCL), (SU), (VRTS), (FTO), (RIG), (PEP), (POT), (CRM), (CF); Terranova Owns (TBT) Calls; Terranova Owns (FFIV) Puts; Terranova Owns (FCX) Put Spread; Terranova Owns (JOYG) Put Spread; Terranova Owns (GLD) Puts

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
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For Rich Ilczyszyn
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