The Mover: Honeywell (HON) popped 1 percent.
Trader Comment: “They had a very good earnings number,” said Zach Karabell. “They’ve reconfirmed the strength of this global industrial economy that I keep harping on that Caterpillar shows as well.”
The Mover: Illumina (ILMN) dropped 1 percent.
Trader Comment: “Roche confirmed that they’re going hostile, that it’s a $44.50 bid for a stock that’s trading over $52 a share ,” said Jon Najarian. “They’re playing a little game of chicken here to see exactly how much they can hold Roche’s feet to the fire to get this deal done at a higher price.”
The Mover: Altria (MO) dropped 2 percent.
Trader Comment: “Volume’s still under pressure. You want to look at the 100-day moving average. It’s just $27.84 in this name,” Steve Grasso said. “If you want to dabble here, you still get a humongous yield.”
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Trader disclosure: On Jan. 27, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns D; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns WFT; Grasso owns XLU; Karabell is long HON; Karabell is long CAT; Karabell is long QCOM; Karabell is long BIDU; Karabell is long VMU; Karabell is short JCP; Karabell is short XLF
For Steve Grasso
Stuart Frankel & Co and it’s partners own CSCO
Stuart Frankel & Co and it’s partners own CUBA
Stuart Frankel & Co and it’s partners own GERN
Stuart Frankel & Co and it’s partners own HPQ
Stuart Frankel & Co and it’s partners own HSPO
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own NYX
Stuart Frankel & Co and it’s partners own PRST
Stuart Frankel & Co and it’s partners own WFT
Stuart Frankel & Co and it’s partners own XRX
For Patty Edwards
Trutina Financial is long GLD
Trutina Financial is long PGM
Trutina Financial is long INTC
Trutina Financial is long T
Trutina Financial is long SBUX
Trutina Financial is long NOV
Trutina Financial is long SBUX
For Adam Jonas
(F) The following analysts hereby certify that their views about the companies and their securities discussed in this report are accurately expressed and that they have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report: Adam Jonas.
For Jim Mccluney
For Willie Williams
For Jeff Klinefelter
A Piper Jaffray officer, director, or employee (other than a research analyst who follows J. C. Penney Company, Inc.), is an officer and/or director of J. C. Penney Company, Inc.
Piper Jaffray beneficially owns 1% or more of a class of common equity securities of J. C. Penney Company, Inc.
Piper Jaffray usually provides bids and offers for the securities of J. C. Penney Company, Inc. and will, from time to time, buy and sell J. C. Penney Company, Inc. securities on a principal basis.
For Dan Dicker
Dicker is long RIG
For Dennis Gartman
Gartman is long gold
For Anthony Scaramucci
Scaramucci is long C
Scaramucci is long BAC
Scaramucci is long GD
Scaramucci is long BDX
SkyBridge Capital Is A Fund Of Funds Manager
Anthony Scaramucci is one of 8 national finance chairs for Mitt Romney campaign
Held a fundraiser for Mitt Romney
Has contributed to the Romney campaign