Following are the day's biggest winners and losers. Find out why shares of Anhueser-Busch (BUD), Biogen (BIIB) and Ann Taylor (ANN) popped while GAP (GPS) and Office Depot (ODP) dropped.
POPS (stocks that jumped higher)
Anhueser-Busch (BUD) popped 2%. Bud upped its full year forecast after reporting their "revenue per barrel" climbed 3% for the first half of '07. – Karen Finerman thinks back-to-college will help boost beer sales.
Biogen (BIIB) popped 6%. The biotech continues to run up the chart, on news Thursday CEO reaffirmed 2007 guidance. – Guy Adami says he still likes it.
Ann Taylor (ANN) popped 4%. The women's work wear retailer continues its rebound from the depths, after same store sales grew 3%. – Jeff Macke says sell Ann Taylor into the strength.
Aeropostale (ARO) popped 5%. The retailer, specializing in teen threads, is also off to the races after comps beat expectations. – Pete Najarian talked about unusual options activity in this stock in Wednesday’s Web.Extra.
Nokia (NOK) popped 3%. The company was a beneficiary of Apple's stumbles today. – Pete Najarian loves NOK.
ADC Telecommunications (ADCT) popped 4%. The maker of networking equipment for AT&T rose after boosting its 2007 outlook. – Karen Finerman says it’s a long awaited pop.
DROPS: (stocks that slid lower)
GAP (GPS) dropped 4%. The Gap is taking it on the chin after same store sales fell 1%. – Jeff Macke says buy the dip because they’ve had sales growth in North America.
Office Depot (ODP) dropped 6%. The office supplies retailer cut back expansion plans according to Bloomberg. – Guy Adami doesn’t know what to say.
Hemlines are dropping. The Wall Street Journal is reporting that fashion designers such as Michael Kors and Donna Karen are trending towards longer hemlines this Fall, which according to an old Wall Street adage, foreshadows a falling market.
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Trader disclosure: On Sept. 6, 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 (JWN); Najarian Owns (CHL), (BJS); Finerman's Firm Owns (WMT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Is Long (MDG) And Is Short (AUY) Against It.