Following are the day’s biggest winners and losers. Find out why shares of Starwood Hotels and Dell popped while Hudson City Bank and Equity Residential dropped.
POPS (stocks that jumped higher)
Starwood Hotels (HOT) popped 16%. The hotel giant said it signed a confidentially agreement with real-estate mogul Sam Zell which could mean the billionaire intends to take a larger stake in the firm. - I don't know why you'd invest alongside Zell, says Macke.
Dell (DELL) popped 4%. The PC maker announced the replacement of two top executives suggesting to investors that Michael Dell may be rethinking his two-year revival plan to include outside talent. - They speak at a conference soon, adds Guy Adami. Listen to what they say.
First Solar (FSLR) popped 10%. Piper Jaffray said order rates could bottom in the first quarter setting up stock appreciation later this year. - I like their balance sheets, adds Joe Terranova.
Sandisk (SNDK) popped 15%. American Technology Research put out a note saying the company will gain share of the semiconductor market over time. - It's not a bad play, says JJ Kinahan.
Home Depot (HD) popped 5%. The stock moved higher despite a disappointing manufacturing report. - We're nearing resistance but I like HD, says Guy Adami.
Citigroup (C) popped 6%. CEO Vikram Pandit and Chairman Win Bischoff forfeited their 2008 bonuses because the company took such a beating last year. - Joe Terranova doesn't know what to say!
Oshkosh Truck (OSK) popped 16%. The Wisconsin-based firm won a contract valued at $1.2 billion to provide support for trucks to the U.S. government. - War is good business, says JJ Kinahan.
Disney (DIS) popped 5%. Its Adam Sandler-flick “Bedtime Stories” took second-place at the box office during the profitable holiday period. - The stock is best of breed in a terrible industry, says Jeff Macke. I'm long.
BorgWarner (BWA) popped 5%. The firm said it received an unsolicited mini-tender offer from TRC Capital to purchase up to 2.5 million shared of common stock.
PetroChina (PTR) popped 8%. China’s largest oil company plans to double the length of its natural gas pipeline by 2015 to meet increasing demand.
DryShips (DRYS) popped 17%. Rates to charter capesize-class ships rose and China completed plans to support its steel and auto industries.
DROPS (stocks that slid lower)
Hudson City Bank (HCBK) dropped 4%. Investors took profits after share price reached a point of technical resistance. However, it’s worth noting this bank is one of only a few that performed impressively over the past 12 months.
Equity Residential (EQR) dropped 4%. Investors bid this REIT lower on concerns that real-estate troubles have not played out completely.
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Trader disclosure: On Jan 2, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE): Macke Owns (MCD), (WMT), (TM), (DIS): Kinahan Owns (DELL), (GE), (HD), (HPQ), (INTC), (LEHMQ), (C ), (YHOO): Kinahan Is Short (BAC) Puts, (CSCO) Puts, (MSFT) Puts
GE Is The Parent Company Of CNBC
Terranova Works For (VRTS): Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (DLR), (EPR), (EXR), (IGE), (SLB), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Corporate Office Properties Trust SBI MD; Virtus Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund – Money Market Fund; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights