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Pops & Drops: Ralcorp, Pier 1

Following are moves you might have missed. Find out why shares of Ralcorp and Sprint popped while Pier 1 and Baidu dropped.

POPS (stocks that jumped higher)

Ralcorp (RAH) popped 5%. Perhaps investors are betting on another bid after Ralcorp rejected the sweetened takeover proposal from ConAgra for $94, saying it was not in the best interests of shareholders. - The bids get rejected and the stock goes higher, muses Pete Najarian.

Sprint (S) popped 8%. The company dropped plans to release a 4G version of the Blackberry Playbook.According to the blogosphere, “it would have required Sprint to devote its own resources to help develop the device, and apparently it just doesn't see the value in that.” - I wouldn't step in and buy here, says Joe Terranova.

JC Penney (JCP) popped 2%. Investors may be hopeful that when incoming CEO Ron Johnson steps into his new role in November, sales will surge. - I'm bullish mid-level retail due to lower prices at the pump, says Steve Cortes.

Disney (DIS) popped 2%. Perhaps it’s trader commentary after reports said the studio shuttered its Lone Ranger project starring Johnny Depp rather than incur excessive costs.

DROPS (stocks that slid lower)

Pier 1 (PIR) dropped 4%. Barclays downgraded this stock to ‘Equal Weight’ from ‘Overweight’ with an $11 price target amid a larger downgrade of the entire retail sector. - It's not a stock I like, says Guy Adami.

Baidu (BIDU) dropped 4%. Published reports suggested the widely followed growth investor Louis Navellier had reduced his position in this stock. - I'd be careful, says Tim Seymour, there are also rumors that not all of Baidu's advertisers are real.





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Trader disclosure: On Aug 15, 2011, 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 (XOM); Terranova owns (CVI); Terranova owns (CAT); Terranova owns (OXY); Terranova owns (AAPL); Terranova owns (DAR); Terranova owns (FCX); Terranova owns (CACI); Terranova owns (ARUN); Terranova owns (ORCL); Terranova owns (EMC); Terranova owns (NCR); Terranova owns (VMW); Terranova owns (IBM); Terranova owns (AMZN); Terranova owns (LULU); Terranova owns (LTD); Terranova owns (WFM); Terranova owns (WFC); Terranova owns (JPM); Terranova owns (AXP); Terranova owns (FXA); Terranova owns (VRTS); Terranova owns (LQD); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Najarian owns (AAPL); Najarian owns (C); Najarian owns (BX); Najarian owns (MS); Najarian owns (MSFT); Najarian owns (PFE); Najarian owns (TCK) ; Najarian owns (ECA); Najarian owns (MS); Najarian owns (DIS); Najarian owns (IDCC) calls; Najarian owns (GLD) calls; Najarian owns (GDX) calls; Najarian owns (SLV) calls; Najarian owns (SGI) calls; Najarian owns (CMC) calls; Najarian owns (RSX) calls; Najarian owns (DIS) calls; Najarian owns (UNP) calls; Seymour owns (AAPL); Seymour owns (BAC)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
Virtus Investment Partners Owns More Than 1% Of (CASS
Virtus Investment Partners Owns More Than 1% Of (CSVI
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (RLI)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC

For Todd Gordon
** No Disclosures

For Mark Wiltamuth
Within the last 12 months, Morgan Stanley managed or co-managed a public offering (or 144A offering) of securities of CVS/Caremark Corp., Family Dollar Stores Inc, Fresh Market Inc, GNC Holdings Inc, Wal-Mart Stores, Inc.
Within the last 12 months, Morgan Stanley has received compensation for investment banking services from Costco Wholesale Corp., CVS/Caremark Corp., Dollar General Corporation, Family Dollar Stores Inc, Fresh Market Inc, GNC Holdings Inc, Kroger Co., Safeway Inc., SUPERVALU, Target Corp., Wal-Mart Stores, Inc., Walgreens.

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