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Pops & Drops: Pride International, Micron Technology, Tesla Motors and More

Thursday, 23 Dec 2010 | 5:54 PM ET

Stocks ended mixed after trading in a narrow range amid a quiet pre-Christmas session following several economic reports that were mostly in line with expectations.

The "Fast Money" traders were most interested in the following market movers, though:

POPS (stocks that went higher)

Pride International (PDE) popped 4%: Norway-born billionaire John Fredriksen said Seadrillmay acquire Pride International, Oslo-based Dagens Naeringsliv reported, citing Fredriksen.

"We're seeing a lot of activity in the drillers across the board anyway," noted Dennis Gartman, author of "The Gartman Letter." "We shouldn't be surprised by this name."

Stock Pops & Drops
The Fast Money traders take a look at todayâ??s biggest market movers.

DROPS (stocks that went lower)

Micron Technology (MU) dropped 4%: The largest U.S. maker of computer memory chips reported first-quarter sales fell below the Street’s estimates. OptionMONSTER.com's Jon Najarian would wait for this name to drop another 2 to 3 percent and then buy shares. He thinks it has room to run to the upside.

Tesla Motors (TSLA) dropped 7%: Capstone Investments on Thursday initiated the electric automaker a ‘sell’. Cool looking cars, said Metropolitan Capital Advisors' Karen Finerman, but Telsa has a "terrible looking" income statement.

Logitech International (LOGI) dropped 2%: The Moulin-Du-Choc Apples, Switzerland-based technology company received a downgrade from BNP Paribas on Thursday.

"That's a well managed company," noted SkyBridge Capital's Anthony Scaramucci, adding that we would wait for the stock to fall further before buying shares.

Nasdaq OMX Group (NDAQ) dropped 2%: The owner of the Nasdaq stock market was cut to ‘market perform’ from ‘outperform’ at Bank of Montreal Thursday. With increased equity volumes, Zachary Karabell of RiverTwice Research said he'll start to take a look at this name into 2011.

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Trader disclosure: On Dec. 23, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Matt Hougan owns (VWO). Jon Najarian owns (ADBE), is short (ADBE) calls. Jon Najarian owns (BBT), is short (BBT) calls. Jon Najarian owns (BBY), is short (BBY) calls. Jon Najarian owns (CSCO), is short (CSCO) calls. Jon Najarian owns (GS), is short (GS) calls. Jon Najarian owns (MSFT), is short (MSFT) calls. Jon Najarian owns (ODP) calls. Jon Najarian owns (POT), is short (POT) calls. Jon Najarian owns (RHT), is short (RHT) calls. Jon Najarian owns (VZ) call spreads. Jon Najarian owns (EXC) puts. Jon Najarian owns (ANW). Jon Najarian owns (IBM), is short (IBM) calls. Jon Najarian owns (SD), is short (SD) calls. Jon Najarian owns (V), is short (V) calls. Jon Najarian owns (DF). Karen Finerman owns (AAPL), (BAC), (GOOG), (JPM) and (MSFT).

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DENNIS GARTMAN
Funds Managed by Dennis Gartman are short the Euro
Funds Managed by Dennis Gartman are short the Yen
Funds Managed by Dennis Gartman are long Gold
Funds Managed by Dennis Gartman are long Crude

KAREN FINERMAN
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 is long S&P puts
Finerman's firm is long Russell 2000 puts
Finerman's firm owns (ARO)
Finerman's firm owns (AVP) calls
Finerman's firm owns (BBY)
Finerman's firm owns (JPM) and (JPM) leaps
Finerman's firm owns (MCD)
Finerman's firm owns (MSFT)
Finerman's firm owns (YUM)

ANTHONY SCARAMUCCI
Scaramucci and Skybridge Capital own (AAPL)
Scaramucci and Skybridge Capital own (C)
Scaramucci and Skybridge Capital own (DELL)
Scaramucci and Skybridge Capital own (EBAY)
Scaramucci and Skybridge Capital own (GS)
Scaramucci and Skybridge Capital own (NKE)
Scaramucci and Skybridge Capital own S&P 500
Scaramucci and Skybridge Capital own USD
Scaramucci and Skybridge Capital Own (JNJ)
Scaramucci and Skybridge Capital Own (KIRK)

ZACAHRY KARABELL
Karabell and River Twice Capital own (AAPL)
Karabell and River Twice Capital own (C)
Karabell and River Twice Capital own (FCX)
Karabell and River Twice Capital own (FXI)
Karabell and River Twice Capital own (GE)
Karabell and River Twice Capital own (GS)
Karabell and River Twice Capital own (POT)
Karabell and River Twice Capital own (RIMM)
River Twice Capital Owns (SQM)
River Twice Capital owns (CF)
River Twice Capital owns (CSCO)
River Twice Capital owns (GS)
River Twice Capital owns (MSFT)
River Twice Capital is short (SPY)

STEPHEN WEISS
Weiss has no disclosures in Gold

MATT HOUGAN
Hougan has no disclosures on GLD, IAU

BORIS SCHLOSSBERG
Sclossberg has no disclosures

BRIAN STUTLAND
Stutland Equities is a market maker holding hedged positions in VIX, SPX, and SPY options
Stutland Equities is a market maker holding positions in VIX futures

EMMA SUGARMAN
Emma Sugarman has no disclosures

JON NAJARIAN FAST FIRE SOT
Jon Najarian has no disclosure in (DF)

  Price   Change %Change
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MU
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SDRL
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TSLA
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NDAQ
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