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Pops & Drops: Continental Airlines, Viacom...


Following are the day’s biggest winners and losers. Find out why shares of Continental Airlines and Viacom popped while Harley-Davidson and Capital One dropped.

POPS (stocks that jumped higher)

Continental Airlines (CAL) popped 10%. Merrill Lynch upgraded the stock to 'buy' from 'neutral', saying the company will greatly benefit from lower fuel prices and that the stock has been oversold. - They have a $20 price target on this stock, explains Guy Adami.

Stock Pops & Drops

Viacom (VIA.B) popped 4%. Fourth quarter earnings weren’t as bad as expected; down 70% from last year but in line with expectations.

Pfizer (PFE) popped 2%. Leerink Swann upgraded the firm to ‘outperform’ from ‘market perform’.

DROPS (stocks that slid lower)

Wells Fargo (WFC) dropped 4%. Investors bid this stock lower on fears that more trouble could lie ahead. - After hours things got worse, says Jeff Macke. The bank said its fourth-quarter loss was 7 percent larger than previously disclosed.

BB&T Corp. (BBT) dropped 6%. Concerns that the stimulus plan won’t revive the economy quickly dragged down this and other regional banks. - I'm skeptical but I've covered half, explains Karen Finerman.

Winn-Dixie Stores (WINN) dropped 11%. Investors apparently took profits after the grocery store reaffirmed its ‘09 guidance. - This should not have sold-off, says Pete Najarian.

Harley-Davidson (HOG) dropped 8%. Despite getting a boost from Buffett’s investment the company continues to struggle; the latest headwind comes in the form of a downgrade from Fitch. - Down the stock goes, bristles Jeff Macke.

Capital One (COF) dropped 9%. An analyst at Fox-Pitt Kelton said he expects data released next week to show further deterioration in the sector and he cut estimates on the company.

JA Solar (JASO) dropped 16%. The Chinese solar-cell manufacturer lowered its sales forecast and revenue target for the year.

General Motors (GM) dropped 4%. The struggling car maker closed in negative territory despite Reuters reporting that GM could be striking a deal with China’s SAIC Motor Corp to sell its stake in their joint venture.

Kohl’s (KSS) dropped 4%. Goldman Sachs downgraded the company to ‘sell’ from ‘neutral’ on concerns over full-year earnings outlook.

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Trader disclosure: On Feb. 12th, 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 (CAT) Call Spread, (ENER) Call Spread, (EEM) Call Spread, (GDX) Call Spread, (GLD) Call Spread; Najarian Owns (CHK) Put Spread; Najarian Owns (FCX) & (FCX) Calls; Najarian Owns (GS) Calls; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (MOS) Call Spread; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (UNH); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (COF), (USO), (BBT); Macke Owns (RIMM), (AAPL), (MS), (TM), (SDS)