Following are the week’s biggest winners and losers. Find out why shares of Biogen (BIIB), Union Pacific (UNP) and Nucor (NUE) popped while IBM (IBM) and Capital One (COF) dropped.
POPS (stocks that jumped higher)
Biogen (BIIB) popped 16%. The biotech, expressed interest in putting itself up for sale after Carl Icahn and other buyers expressed interest. – Pete Najarian doesn’t think this stock is going much higher.
Union Pacific (UNP) popped 3%. Rail stocks were running, with Union Pacific posting a 27% increase in profits this quarter. – Guy Adami said he still likes the rails.
Nucor (NUE) popped 5%. This steel company turned red hot after better than expected earnings and revenue. – Guy Adami revealed there’s a lot of takeover chatter in steel stocks.
Steve Madden (SHOO) popped 26%. Shareholders of Steve Madden kicked up their heels, as the company said it had hired advisers to weigh "strategic options" and a possible sale of the company. – Karen Finerman said she’s intrigued.
DROPS: (stocks that slid lower)
IBM (IBM) dropped 5%. Big Blue fell due to a 10% drop off in sales at their hardware business. – Jeff Macke said not to buy the dip.
Capital One (COF) dropped 12%. The biggest independent U.S. credit-card issuer posted a loss, due to charges from shutting down its GreenPoint Mortgage business. – “I wouldn’t touch it with a ten foot pole”, was Karen Finerman’s comment.
eBay (EBAY) dropped 8%. Shares of the online auctioneer were bid down on growth concerns. – Jeff Macke recommended getting long EBAY in the mid-30’s.
Ericsson (ERIC) dropped 29%. When the CEO said "This is a day to be humble, concerned and disappointed" -- you knew it was going to be a rough week. – Pete Najarian felt the weakness was specific to Ericsson and not industry-wide.
The Dow 20 Years Ago. On October 19th, 1987, the Dow Jones Industrial Average dropped 508 points -- a 23% loss in a single day.
Goldman Sachs (GS) dropped 7%. From brokers such as Goldman to money-center banks, the entire financial sector took a drop this week. – Guy Adami recommended buying the pullback at $215.
SanDisk (SNDK) dropped 10%. The chipmaker short circuited, after earnings were hit by price decreases that are expected to continue into the 4th quarter. – Pete Najarian speculated that Intel could be interested in a takeover.
Dione Warwick & Sinbad. The two are among California's worst tax scofflaws, each owing the state more than $2 million.
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Trader disclosure: On Oct 19, 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 (ATVI), (EMC), (INTC); Najarian Owns (C), (CY), (GOOG); Finerman Owns (GS);Finerman Owns PHLX Oil Service Sector Index Puts; Finernman's Firm Owns (ASD), (TGT), (MO), (BIIB), (MSFT), (WMT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm And Finerman Own (HD)