Following are the day’s biggest winners and losers. Find out why shares of Ralph Lauren (RL) and JDS Uniphase (JDSU) popped while IAC/InterActiveCorp. (IACI) and Cheesecake Factory (CAKE) dropped.
POPS (stocks that jumped higher)
Ralph Lauren (RL) popped 10%. European sales drove profits higher for Polo; the company also raised its full-year guidance. – Sell the rally, counsels Jeff Macke.
JDS Uniphase (JDSU) popped 26%. The maker of testing equipment for the telecom industry doubled analyst profit expectations. – This company also believes strength is going to continue through 2008, says Pete Najarian.
Ralcorp Holdings (RAH) popped 8%. This supplier of "store brand" cereals, cookies, and frozen products announced a boost in sales across all divisions this quarter. – Interesting, says Jeff Macke.
Temple University. A pair of anonymous checks totaling $5 million arrived at the doorstep of this Philadelphia university. $4 million was earmarked for scholarships for women and minorities, and the remaining $1 million for whatever the University chooses. The donors, which transmitted the money from a bank in Arizona, insisted on remaining anonymous. They merely requested the school to give them periodic reports on how the money is being used.
Tyco Electronics (TEL) popped 7%. One of three divisions spun off from conglomerate formerly known as "Tyco" said first quarter profit tripled on international sales. – This stock has been okay, says Guy Adami.
Thermo Fisher Scientific (TMO) popped 8%. This lab equipment maker increased their forecast. – Kudos to Merrill Lynch for recognizing this stock, says Guy Adami.
Blue Satin. Chanel Blue Satin Nail Polish is sold out at Saks, Nordstroms, Macys and Neimans. There is a waiting list! Although the nail polish retails for $19 the fashionable are flocking to eBay and paying up to $65 per bottle.
DROPS (stocks that slid lower)
IAC/InterActiveCorp. (IACI) dropped 7%. Barry Diller's media conglomerate posted a $500 million operating loss at its LendingTree mortgage unit, leading to an unexpected 4th quarter loss for the entire company.
Harman International Industries (HAR) dropped 15%. The audio equipment maker said higher costs and increased competition would lead to a rough 2008 and 2009. – Maybe all the bad news is in the stock, Karen Finerman speculates.
Cheesecake Factory (CAKE) dropped 9%. The casual restaurant chain blamed bad weather and lower traffic for its 35% drop in 4th quarter net. – I love Cheesecake Factory, says Karen Finerman, but only for lunch or dinner not as part of my portfolio.
Double-Take Software (DBTK) dropped 27%. The data protection firm's acquisition of a competitor hurt their first quarter earnings. – This stock has some issues, says Pete Najarian.
Warner Music Group (WMG) dropped 21%. Sales of Josh Groban's "Noel" couldn't save Warner Music Group from its failed acquisition of a high-end event promoter. – There doesn’t seem to be a bottom in the music business, muses Jeff Macke.
Apple (AAPL) dropped 6%. The introduction of higher memory iPods and iPhones didn't deliver the "wow" factor of Apple's previous product announcements. – It’s starting to look attractive to me, says Karen Finerman.
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Trader disclosure: On Feb.6, 2008, 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 (INTC), (YHOO), (DIS); Najarian Owns (BIIB), (CSCO), (EBAY), (MSFT), (XLF), (C), (BIIB), (NWA), (AMR); Najarian Owns (AAPL) Calls, (NIHD) Calls, (SKS) Calls; Najarian Owns (MA) Puts; Finerman Owns (GS); Finermna's Firm And Finerman Own (TEL), (TYC); Finerman's Firm Owns (KSS), (RTH), (RTP), (WMT), (YHOO), (JCP), (AEO), (BR), (SUN); Finerman's Firm Owns (MSFT) And Is Short (MSFT) Calls; Finerman's Firm Is Short (SPY), (IYR), (IJR), (IWM), (MDY), (BHP), (COF), (SPG), (WFC), (MHGC); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Fineramn's Firm Owns (CROX) And (CROX) Options, Finerman Owns (CROX)