Following are the day’s biggest winners and losers. Find out why shares of Apple (AAPL), Synchronoss (SNCR) and NYMEX (NMX) popped while Macy's (M) and Alcoa (AA) dropped.
POPS (stocks that jumped higher)
Apple (AAPL) popped 4%. Apple shares shrugged off last week's loss as the company reported its 1 millionth iPhone sale, one month ahead of schedule. – Guy Adami says he can’t embrace Apple at this level.
Synchronoss (SNCR) popped 6%. After tumbling 10% last week, the maker of "iPhone setup software" gained it all back today on positive iPhone sales numbers. – Pete Najarian likes this stock.
NYMEX (NMX) popped 5%. The New York Merc is perked up midday mysteriously. – Guy Adami says speculation suggests NYX might soon buy NMX.
Mylan Labs (MYL) popped 4%. Shareholders were upping their dosage of this generic drug maker, after Mylan gained tentative FDA approval to make an anti-seizure medication known as Topiramate. – Karen Finerman likes this pop.
Dendreon (DNDN) popped 5%. The biotech firm charged higher Monday amid the Bear Stearns Health Care conference. – Pete Najarian says there’s speculation in the market that one of Dendreon’s drugs may get the fast track from the FDA.
Britney Spears popped out of her MTV Video Music Awards outfit. Britney's skimpy black lingerie was hanging on for dear life during the former sexpot's sloppy performance at the VMA's.
DROPS: (stocks that slid lower)
Macy's (M) dropped 2%. Shares dipped as more than a 100 protesters in Chicago gathered outside the department store, calling for a boycott of Macy's until they change the name of that branch back to Marshall Fields. – Jeff Macke thinks Macy’s is a sell.
Alcoa (AA) dropped 2%. The globe's second largest aluminum producer continues to melt after UBS said it might miss 3rd quarter estimates. – Karen Finerman says a 2% drop for this stock is like a pop!
Hovnanian (HOV) dropped 5%. The luxury homebuilder stumbled after posting its fourth consecutive quarterly loss. - Jeff Macke says sell.
Legg Mason (LM) dropped 4%. The second largest publicly traded money manager fell, on concerns over losses in some of their equity funds. – Guy Adami believes the stock will go lower.
Hedge Funds dropped. Looks like you could've done better hiding your money in the mattress than handing it to a hedge fund manager last month. The highly secretive investment pools lost 1.3% in August -- their worst drop since May 2006 -- according to Hedge Fund Research.
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Trader disclosure: On Sept. 10, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;
Make Owns (ATVI), (DIS), (INTC), (HAS); (EMC), Najarian Owns (VMW); Najarian Is Short (GS); Finerman's Firm Owns (COP); Finerman's Firm Owns S&P 500 Futures; Finerman's Firm Owns Russell 2000 Futures