Following are the days biggest winners and losers. Find out why shares of Sirius (SIRI), and Forest Labs (FRX) popped while Citigroup (C) and Crocs (CROX) dropped.
POPS (stocks that jumped higher)
Sirius (SIRI) popped 4%. The satellite radio company hit the right frequency after former FCC Chairman Mark Fowler blessed their merger with competitor XM. – Jeff Macke recommends buying SIRI with a 2-handle, but he says don’t chase it here.
Forest Labs (FRX) popped 10%. The biotech firm popped after a court ruling said generic drug companies couldn't copy Forest's blockbuster depression drug Lexapro. – Pete Najarian says it’s good news for Forest.
LIBOR Rates popped TO 7-year high. - The 3- month London Interbank Offered Rate, a benchmark interest rate between banks, climbed to 5.72%. – Karen Finerman says it’s a sign of more fear.
DROPS: (stocks that slid lower)
Citigroup (C) dropped 3%. The world's biggest bank fell after word the company might have exposure to "off the books" pools of commercial paper. – Karen Finerman believes there’s another shoe to drop.
Crocs (CROX) dropped 6%. The maker of popular rubbery sandals fell after the company's CFO told Bloomberg that profit margins may fall. – Guy Adami says it’s a minor drop.
KB Home (KBH) dropped 5%. The homebuilder is leading the way down for the whole sector after the number of Americans buying previously owned homes hit its lowest level since 2001.
Tyson Foods (TSN) dropped 13%. The largest meat producer in the U.S. cut its '07 forecast, citing higher cattle and pork prices hurting demand. – Karen Finerman says she smells something…
Warner Music Group (WMG) dropped 5%.After the widely-feared bear said he was shorting Warner Music Group last night on Fast Money, shares collapsed. – Karen Finerman says stay away from this stock.
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Trader disclosure: On Sept, 5, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC); Pete Najarian Owns (BMY); Pete Najarian Is Short (GS); Finerman Owns (GS); Finerman's Firm Owns (KFT), (WMT); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts