Following are the day’s biggest winners and losers. Find out why shares of Yahoo and Foster Wheeler popped while Toll Brothers and McGraw-Hilldropped.
POPS (stocks that jumped higher)
Yahoo (YHOO) popped 3%. Internet names have been on fire lately with investors bullish on the profit potential of new media. - I missed it but I don't feel bad, says Joe Terranova.
Foster Wheeler (FWLT) popped 2%. Goldman upgraded the firm to ‘buy’ from ‘neutral’, citing its leverage to Australia liquefied nat gas and valuation. - I think it's a growth stock, muses Pete Najarian.
Caterpillar (CAT) popped 2%. The construction equipment maker received a new $11 million contract providing equipment for the US Army. - I think Caterpillar goes to $55, speculates Joe Terranova.
DROPS (stocks that slid lower)
Toll Brothers (TOL) dropped 3%. The company’s CEO continued to sell shares of the company- dumping 1.58 million shares of the stock. - It's hard to be enthusiastic, says Tim Seymour.
McGraw-Hill (MHP) dropped 4%. The parent of S&P dropped after California Attorney General Jerry Brown issued subpoenas to this firm as well as Moody's and Fitch Ratings as he launched an investigation of whether they broke state law with the ratings they provided mortgage-backed securities. - Not good for business, muses Karen Finerman.
ArcelorMittal (MT) dropped 3%. Societe Generale cut the stock to 'hold' from 'buy', citing no catalysts for upward movement at this stage. - I'm a buyer around $35, reveals Tim Seymour.
Pride International (PDE) dropped 6%. Howard Weil cut the firm to ‘market perform’ from ‘market outperform.’
Medco (MHS) dropped 2%. Goldman Sachs cut the the health care company to 'neutral' from 'buy'.
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Trader disclosure: On Sept. 17, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (F), (BAC), (EEM), (FXI), (SBUX), (VIP); Seymour's Firm Owns (MTL); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman Owns (PDE); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC); Finerman Owns (WFC) Preferred Shares; Finerman Owns (RIG) ; Finerman's Firm Owns (WMT), (RIG), (MSFT), (NOK), (PBR), (PDE), (TGT); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (IYR); Najarian Owns (AAPL) & Short (AAPL) Calls; Najarian Owns (ACI) Call Spread; Najarian Owns (BAC) & Short (BAC) Calls; Najarian OWns (C) Calls; Najarian Owns (CUX); Najarian Owns (FCX), Owns (FCX) Put, Is Short (FCX) Calls; Najarian Owns (GE) Calls; Najarian Owns (JPM) & Is Short (JPM) Calls; Najarian Owns (JOYG) & Short (JOYG) Calls; Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (PALM) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (TEVA); Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Calls ; Najarian Owns (WNR) Calls; Terranova Owns Gold Futures; Terranova Owns Dec Crude Contracts; Terranova Owns Dec 2010, Dec 2012 Crude Contracts; Terranova Owns (WNR) & (WNR) Calls; Terranova Owns (HOC)
For Dennis Gartman
Gartman Owns Gold
Gatman Owns Canadian Dollar