Following are the day’s biggest winners and losers. Find out why shares of AIG and 99 Cents Only Stores popped while Lehman and Zoltek dropped.
POPS (stocks that jumped higher)
Precision Castparts (PCP) popped 5%. Goldman Sachs added this maker of airplane parts to its Conviction Buy List, saying it’s oversold. – I love this name, says Guy Adami.
Marsh & McClennan (MMC) popped 3%. Although the world's largest insurance brokerage said lower commissions sent profit down 62%, shares rallied. – I think it’s dead money, says Jeff Macke.
Qwest Communications (Q) popped 3%. After cutting labor costs, this local phone provider increased profits by 89%. – It’s a 15 cent move, explains Pete Najarian.
AIG (AIG) popped 3%. After yesterday's precipitous drop, AIG picked up a few percentage points after saying that, over time, it may recoup some of the asset losses it suffered this fall. – This story is too complicated for me so I’m staying away, says Karen Finerman.
99 Cents Only Stores (NDN) popped 9%. Is this a sign that we really are in a recession? This dollar store chain blew away analyst expectations. – This is the classic relief rally, says Guy Adami. I wouldn’t buy.
Time Warner (TWX) popped 4%. After last week's star performance in the media stocks, Time Warner received an upgrade to "Buy" from "Neutral" at UBS. – Nice move, says Jeff Macke.
Molson Coors Brewing (TAP) popped 10%. Higher sales of low-end and high-end brews spiked TAP's sales. – I like this stock, says Guy Adami.
Old Girl. A Wisconsin man drove his '91 Chevy Silverado (nicknamed "Old Girl") past the 1 million mile mark yesterday. Frank Oresnik says he used to truck for business, to deliver steaks and seafood across the Midwest. He claims to have changed the oil on "Old Girl" 300 times.
DROPS (stocks that slid lower)
Lehman (LEH) dropped 3%. Credit Suisse, cut its profit expectations for Lehman (along with Goldman & Morgan Stanley) for 2008, citing declines in asset values and lower levels of investment banking activity. – The Street thinks they have a lot of commercial real estate exposure, says Karen Finerman.
Highland Mint. This Florida-based maker of collectable coins produced 10,000 24-karat gold-plated coins, emblazoned with the phrase "New England Patriots: Champions, Super Bowl 42."
Zoltek Companies (ZOLT) dropped 21%. The maker of carbon fibers used in everything from wind turbines to sporting equipment posted higher than expected profits, but sales missed the mark. – Wind turbines are a great idea but it’s not time yet, says Pete Najarian.
NxStage Medical (NXTM) dropped 33%. The maker of portable dialysis machines said it expected a wider loss than analysts had anticipated. – Stay away, says Karen Finerman.
Winn Dixie (WINN) dropped 12.A Friedman-Billings analyst cut the supermarket chain to "market perform." The supermarket space is tough, says Jeff Macke.
Emergency Medical Services Group (EMS) dropped 12%. The ambulance operator said profits, sales, and guidance missed the mark. – I think they’ve got a problem, says Pete Najarian.
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Trader disclosure: On Feb.12, 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 (YHOO), (INTC), (ATVI), (DIS); Najarian Owns (BIIB), (C), (CSCO), (MS), (MSFT), (NOK), (XLF), (YHOO), (MCD); Najarian Owns (AAPL) Calls; Najarian Owns (FRE) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MSFT), (TSO), (VLO), (WMT), (YHOO), (AAPL), (GE), (DVA); Finerman's Firm Is Short (SPY), (IWM), (IJR), (IYR), (MDY), (LEH), (LEN); Finerman's Firm And Finerman Own (CROX) And (CROX) Options; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts