Following are the day’s biggest winners and losers. Find out why shares of Research In Motion and WMS Industries popped while Archer Daniels Midland and Pulte Homes dropped.
POPS (stocks that jumped higher)
Research In Motion (RIMM) popped 3%. Goldman Sachs increased its smartphone forecast based on a consumer survey that showed RIMM and rival Apple were the runaway winners. - I suggest being long, says Joe Terranova.
Boston Properties (BXP) popped 6%. This and other REITs popped after data showed pending home sales rose for the fifth straight month, which investors interpreted as another encouraging sign of life for the embattled real estate market. - Commercial real estate is a speeding train and I wouldn't stand infront of it, counsels Karen Finerman.
Human Genome Sciences (HGSI) popped 5%. ThinkEquity upgraded the firm to ‘buy’ from ‘accumulate’ citing prospects for the company's developing lupus treatment. - I just can't be a buyer, says Steve Grasso.
TRW Automotive (TRW) popped 15%. The maker of seat belts and airbags, raised its 2009 revenue forecast and said it was confident that the auto industry had hit bottom. - I'm a seller, says Steve Grasso.
WMS Industries (WMS) popped 12%. The maker of slot machines reported a 31 percent jump in quarterly net income boosted by higher revenue. - It seems like everything is going right for them, muses Pete Najarian.
Flowserve (FLS) popped 3%. Investors continued to show this stock some love after the firm’s better-than-expected profit report last week. I took some profits, reveals Karen Finerman.
DROPS (stocks that slid lower)
Archer Daniels Midland (ADM) dropped 5%. The firm reported a much bigger-than-expected 83 percent drop in quarterly profit, as the recession slowed demand for its agricultural commodities. - I think it's a buy, says Pete Najarian.
Pulte Homes (PHM) dropped 1%. The homebuilder reported a wider second-quarter loss after selling fewer homes at lower prices.
Nicolas Cage. The National Treasure star apparently needs to find some sort of treasure of his own. The New York Daily News reports the 45 year old actor owes the IRS over $6 million in unpaid taxes from 2007. Cage has put his Louisiana and Hollywood homes up for sale to raise the cash, and recently sold off his Bavarian castle
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to .
Trader disclosure: On Aug 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (MSFT), (RIMM), (JPM), (MS), (ABT), (MCD), (AMZN); Terranova Works For (VRTS); Terranova Is Short (TM), (WFC), (WYNN), (F); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (PDE), (TBT), (WMT); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finermnan's Firm Is Long (WFMI) Puts; Finerman's Firm Is Short (WFC), (USO), (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm Owns (CTX); Grasso Owns (BAC), (BA), (COST), (CSCO), (FAZ), (OXY), (V), (WMT), (XLF); Grasso's Company Owns (ABT), (GERN), (MSFT), (NWS.a), (NYX), (PDE), (RDC), (ROK), (XOM), (SDS); Grasso's Company is Short (QQQQ), (CL); Grasso Owns (CSCO); Najarian Owns (AET); Najarian Owns (BX) Call Spread; Najarian Owns (BUCY) & (BUCY) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & (JPM) Call Spread; Najarian Owns (MS) & Short (MS) Calls ; Najarian Owns (MSFT) & Short (MSFT) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (V) & Short (V) Calls; Najarian Owns (YHOO) Call Spread; Najarian Owns (TCK) Calls