Following are the day’s biggest winners and losers. Find out why shares of U.S. Steel (X)and Saks (SKS) popped while Mattel (MAT) and Medtronic (MDT) dropped.
POPS (stocks that jumped higher)
U.S. Steel (X) popped 2.5%. The steel maker was burning up the chart. – Pete Najarian says there’s speculation of a deal but he doesn’t buy it.
Saks (SKS) popped 4%. The luxury department store popped, after Women's Wear Daily reported the company has been approached by two potential buyers. – Jeff Macke recommends selling.
Led Zeppelin. The legendary rock band finally will release music for digital downloading next month.
DROP (stocks that slid lower)
Mattel (MAT) dropped 1%. Beleaguered toy company Mattel fell as much as 3% Monday morning, after earnings were hurt by $40 million in charges linked to the Chinese toy recalls. – Jeff Macke likes HAS more.
Medtronic (MDT) dropped 11%. Shares of the electronic heart devices maker plummeted after the company announced it would halt the sale of wires for implantable defibrillators because of potential malfunction. – Pete Najarian says stay away.
Sallie Mae (SLM) dropped 4%. The buyout group that had offered to buy Sallie Mae back in April for $25 Billion proposed both sides walk away from the deal. – Karen Finerman doesn’t think the conflict will be resolved quickly. She says walk away.
Eaton Corp. (ETN) dropped 4%. The world's second- largest maker of hydraulic equipment posted higher 3rd quarter profits, but cut its 4th quarter outlook. – Guy Adami recommends watching Honeywell earnings in 4 days to see if the Q4 cut is industry-wide or specific to ETN.
NYMEX (NMX) dropped 3%. The commodities exchange dipped, along with most exchange stocks. – Karen Finerman thinks the stock is just breathing a little.
Airlines (.XAL) dropped 1.5%. Airline stocks lost altitude ahead of earnings as oil leapt to a record close. AMR and DAL report this week. – Guy Adami recommends selling.
Level 3 (LVLT) dropped 11%. The communications company dropped after the company said it was looking to replace its CFO. – Pete Najarian doesn’t expect a pop until they find new management.
Regional Bank ETF (KRE) dropped 3%. The regional banks got slammed ahead of their earnings. – Guy Adami is now worried about USB earnings coming out Tuesday.
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Trader disclosure: On Oct 15, 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 (HAS), (INTC); Najarian Owns (BBW), (C), (CY), (GOOG), (SIRF); Finerman Owns (GS), (C); Finerman's Firm Owns (COP), (GE), (KFT), (NMX), (NYX), (NVT), (MO), (PLCE); Finerman's Firm Owns Russell 2000 Index Puts; Finerman's Firm Owns S&P 500 Index Puts; Finerman's Firm And Finerman Own (FLS); GE Is The Parent Company Of CNBC