Following are the days biggest winners and losers. Find out why shares of Mentor (MNT), Urban Outfitters (URBN) and Interpublic (IPG) popped while Heelys (HLYS) and Dreamworks (DWA) and dropped.
POPS (stocks that jumped higher)
Mentor (MNT) popped 17%. Strong sales of its new silicone breast implants helped the company's full-year outlook. - Pete Najarian says it’s a result of strength in the luxury markets.
XM Satellite Radio (XMSR) popped 5%.The head of the FCC spoke kindly of the satellite radio company's a la carte pricing idea, making investors bet the government will approve its merger with rival Sirius Satellite (SIRI). - Jeff Macke says buy Sirius with a 2-handle.
Urban Outfitters (URBN) popped 10%. The hipster retailer's sales outpaced The Street. – Guy Adami says good things are happening at URBN.
Interpublic (IPG) popped 15%. Bolstered by strong Asian growth, the advertising giant earned more than twice what analysts expected in the second quarter. - Pete Najarian says China growth is knocking the cover off the ball.
Blue Nile (NILE) popped 16%. The online diamond retailer -- and our guest last night -- had a gem of a quarter and foresees more good times ahead. – Jeff Macke says get long.
DROPS: (stocks that slid lower)
Heelys, Inc. (HLYS) dropped 32%. Q3 and full year forecasts fell far below Wall Street expectations. - Jeff Macke says get out.
DreamWorks (DWA) dropped 9%. The movie studio's biggest investor, Microsoft billionaire Paul Allen, decided to liquidate about half of his position. - Guy Adami says the stock could be a buy, soon.
Dean Foods (DF) dropped 6%. The maker of Land O' Lakes butter said its profits are getting creamed by higher milk prices. – Eric Bolling says stay out of this stock.
Price of the Xbox dropped 13% TO $349. Desperate to boost sales, Microsoft (MSFT) put the xBox on sale, dropping the price by $50. - Jeff Macke says the Wii wins the console wars, the Xbox finishes second.
Clearwire (CLWR) dropped 15%. The WiMAX provider was reports a wider than expected loss. – Eric Bolling says own this company.
Pope Talbot (POP) dropped 60%. The Portland-based lumber company was forced to put itself up for sale as the housing market batters the timber industry. – Guy Adami says the company was prosperous for 150 years. What happened?
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Trader disclosure: On Aug 7 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (CSCO), (NMX),(GS); Bolling Owns (NMX)