Top Traders: 5 Market Movers to Watch
Stocks closed near session lows Thursday, reversing three days of gains, as investors remained cautious ahead of U.S. Federal Reserve Chairman Ben Bernanke's Jackson Hole speech on Friday.
The "Fast Money" traders, though, were watching these market movers.
POPS (stocks that went higher)
TiVo (TIVO) popped 17%: "Who would have ever thought we would see a pop in TiVo, but it looks like the rest of the space, their competition, is going to be coming for their intellectual property," Stuart Frankel's Steve Grasso said. "So maybe they get a bounce going forward."
Citigroup (C) popped 5%: The New York City-based financial institution saw shares rise after Berkshire Hathaway said it will invest $5 billion in the Bank of America . After reviewing this stock, Metropolitan Capital Advisors' Karen Finerman thinks C is worth a look.
AOL (AOL) popped 9%: There is a sizable short interest in this technology stock, Drakon Capital's Guy Adami said. Still, he thinks it could continue to push higher.
DROPS (Stocks that went lower)
Cisco Systems (CSCO) dropped 2%: Shares of this technology company fell sharply after Wedbush Securities lowered its price target on the stock to $18 a share, Kanundrum Capital Brian Kelly reports.
"Another tough day for Cisco," Kelly said. "I would still stay away from this name."
Hormel Foods (HRL) dropped 7%: The food company reported better-than-expected results and the maker of Spam also boosted its profit outlook for the year, options trader Pete Najarian reports. He thinks it's a good time to buy shares.
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CNBC.com with wires