Following are the day’s biggest winners and losers. Find out why shares of Medtronic (MDT), Nokia (NOK) and Freeport McMorRan (FCX) popped while Alcoa (AA), International Paper (IP) dropped.
POPS (stocks that jumped higher)
Medtronic (MDT) popped after hours. Pete Najarian says the stock looks good for now but, be carefull.
Nokia (NOK) popped 1%. The second biggest maker of wireless networks bounced back. You might remember that Pete gave an assist yesterday to an e-mailer. – Pete Najarian is quite bullish on this name. (Read Tuesday’s Money Mail)
Freeport McMorRan (FCX) popped 4% The miner climbed higher after gold and copper closed up on the day. – Pete Najarian says forget gold and go for copper.
Akamai (AKAM) popped 4%. The company, who's software helps move information around the internet more quickly, received an upgrade. – Jeff Macke doesn’t like this stock.
Baker Hughes (BHI) popped 5%. Pete spotted some Options Action in this oil services name Tuesday -- and shares were off and running on no new news.
Google (GOOG) popped 2%. Google surpassed Johnson & Johnson in market cap today, making it the 10th largest company (by market cap). – Tim Seymour says “the beat goes on!”
DROPS: (stocks that slid lower)
Alcoa (AA) dropped 3%. Shares of the world's second largest aluminum company melted as earnings disappointed. – Tim Seymour says Alcoa’s struggling with electricity costs.
International Paper (IP) dropped 2%. The paper giant fell after it issued a profit warning. – Karen Finerman says that’s hardly a drop.
PetSmart (PETM) dropped 4%. Shares of PetSmart landed in the doghouse after it lowered profit expectations. – Jeff Macke recommends buying this stock under $30.
Turkcell (TKC) dropped 5%. The largest mobile phone company in Turkey, slid on Monday. You might remember Tim Seymour believed it was overpriced and said as much on “Fast Money”. – Tim adds Turkey’s government is subsidizing other companies to help build out their networks.
I-Robot (IRBT) dropped 8%. Maker of Roomba, Scooba and also military robots, the company short-circuited after announcing a 3rd quarter pretax loss - due to a vacuum cleaner production delay. – Karen Finerman says she can’t get on board.
Western Union (WU) dropped 3%. The money transfer services company dropped, after an analyst downgrade. – Karen Finerman likes this company.
TempurPedic International (TPX) dropped 7%. Canaccord Adams Ltd. analyst Stephen Colbert said ``Sales trends slowed dramatically'' for the maker of luxury mattresses after Labor Day.” – Jeff Macke tells the panel this stock is a sell.
Morgan's Quant Fund. According to Bloomberg News, Morgan Stanley, the world's second- biggest securities firm, said its quantitative strategy traders lost $390 million during a single day in August as their computer models failed to account for “widespread'' investor selling.
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Trader disclosure: On Oct 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 Macke Owns (DIS), (INTC); Pete Najarian Owns (LXK), (ZMH), (VCLK), (GOOG); Finerman's Firm And Finerman Own (TEL), (TYC); Finerman's Firm Owns (COP), (DAI), (MSFT), (NVT), (TGT), (WMT), (YHOO): Finerman's Firm Owns S&P 500 Puts: Finerman's Firm Owns Russell 2000 Puts; Seygem Asset Management Owns (AA), (F), (GLD), (IRBT), (MSFT), (SBUX), (SSL): Seygem Asset Management Is Short (TKC); Lukoil Trades Over The Counter In The U.S. But Trades On The Exchange In London; Jon Najarian Owns (GOOG), (YHOO), (BHI)