Following are the day’s biggest winners and losers. Find out why shares of Toll Brothers and Cisco popped while Costco and Solarfun dropped.
POPS (stocks that jumped higher)
Toll Brothers (TOL) popped 3%. Following a sharp drop at the open, the luxury homebuilder's shares recovered after it reported its worst quarterly loss in over 20 years. – Wow, exclaims Jeff Macke.
Homex Development Corp (HXM) popped 4%. Apparently, there’s no housing slowdown south of the border: Mexico's largest homebuilder said 4th quarter profits doubled. – A great story, says Tim Seymour.
Cisco (CSCO) popped 4%. Wells Fargo added the networking name to its "Buy" list. – I think the numbers look outstanding, explains Pete Najarian.
IHOP (IHP) popped 10%. The International House of Pancakes, which acquired Applebee's last year, said it expects same-store-sales growth between 2 and 4% in 2008. – I was surprised, says Karen Finerman.
Tenet Healthcare (THC) popped 2%. After popping 14% Tuesday, the hospital chain climbed again, Wednesday in the wake of a narrower-than-expected fourth quarter loss. – It’s still getting it done, says Pete Najarian.
Papa John's (PZZA) popped 9%. Another sign casual dining might be coming back to life? Shares of the pizza chain surged for no clear reason. – They had strong guidance, explains Tim Seymour.
Brazil Telecom (BRP) popped 5%. The fixed-line telecom company was raised to "Buy" from "Neutral" at UBS, citing the possibility of increased dividends. – I like this stock, says Tim Seymour.
Freedom. At the invitation of the North Korean government, The New York Philharmonic traveled to Pyongyang to perform to a sold-out crowd, an act some are calling "Violin Diplomacy." The historic performance began with a rousing rendition of "The Star Spangled Banner" and ended with a standing ovation.
DROPS (stocks that slid lower)
Costco (COST) dropped 2%. A Goldman Sachs analyst downgraded the discount retailer to "neutral" from "buy" saying a weak economy will make it tough for Costco to beat EPS expectations. – Nothing to see here, Jeff Macke says.
Neverland. A drop for the "King of Pop": A foreclosure auction is set for Michael Jackson's home/amusement park unless he can come up with $24,525,906.61 by March 19th. Along with the home and grounds, the railroad, Ferris wheel and carousel will also be put up for auction.
Solarfun (SOLF) dropped 13%. Bank of America analysts took down several names in the solar sector. They downgraded SOLF to "sell" from "neutral. – Not fun, Karen Finerman says.
Nortel Networks (NT) dropped 13%. Shares of the telecom equipment maker plunged after it posted its 5th loss in 6 quarters, and announced more than 2,000 job cuts. – They’re struggling, says Pete Najarian.
Lamar (LAMR) dropped 7%. The first quarter forecast for this outdoor advertising firm fell short of expectations. – The ad dollars just aren’t flowing into these guys, says Jeff Macke. Right now I wouldn’t touch the stock.
Carter's (CRI) dropped 24%. The maker of children's clothes under the "Osh Kosh" brand posted a profit short of expectations. – Stay away, counsels Karen Finerman.
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Trader disclosure: On Feb.27, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (XTO) Calls, (JEF) Calls, (CNET) Calls, (BIIB), (C), (CSCO), (MS), (MSFT), (XLF), (YHOO) Calls; Macke Owns (INTC), (DIS), (ATVI); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT), (SHLD), (TSO);Seygem Asset Management Owns (INFY), (EWT), (AUO), (UMC), (TSM), Gazprom, Is Short (PBR); Finerman Owns (HD), (GS), (LOW); Finerman’s Firm Owns (FNM), (MSFT), (YHOO), (WMT), Is Short (IYR), (IJR), (IWM), (SPY), (MDY), (LEH), Finerman’s Firm and Finerman Own (FLS)
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