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Pops & Drops: ArcelorMittal, Morgan Stanley...

Following are the day’s biggest winners and losers. Find out why shares of Visa and Harris Corp popped while ArcelorMittal and Morgan Stanley dropped.

POPS (stocks that jumped higher)

Visa (V) popped 4%. The credit card name reported strong earnings on cost cutting and more transactions; it also announced a $1 billion stock buyback.

Harris Corp. (HRS) popped 10%. “New orders, revenue and earnings exceeded our expectations in the first quarter as a result of strong performance in both the RF Communications and Government Communications Systems segments," said Howard L. Lance, chairman, president and chief executive officer.

DROPS (stocks that slid lower)

ArcelorMittal (MT) dropped 4%. The world’s largest steelmaker said third quarter profits fell 76%. - Not so good, says Tim Seymour.

Morgan Stanley (MS) dropped 5%. Financials led Wednesday's slide with weak economic data suggesting that Main Street may have trouble, yet, making mortgage payments and credit card payments. - I'm a buyer at $30, reveals Joe Terranova.

Under Armour (UA) dropped 13%. Needham downgraded the athletic gear maker to ‘underperform’ from ‘hold after the company said sales will remain flat next year. - It's still not cheap, muses Karen Finerman, even here.

Advanced Micro Devices (AMD) dropped 6%. The WSJ linked Hector Ruiz, the former CEO of AMD to the insider-trading controversy at Galleon. - That hurts, says Pete Najarian.

PetroChina (PTR) dropped 6%. China’s largest oil company fell after reporting third quarter profits slid 23% due to lower crude prices and weak demand.

BorgWarner (BWA) dropped 7%. Although the auto parts name beat on earnings, they also gave a cautious outlook.

Massey Energy (MEE) dropped 9%. Third quarter revenues fell short of analysts’ estimates; the company also lowered its forecast for coal shipments.

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Trader disclosure: On October 28th, 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 (AAPL), (BAC), (BX), (EEM), (INTC), (MSFT), (FXI); Najarian Owns (BX) Call Spread; Najarian Owns (EXPE) Calls

Najarian Owns (GE) Calls; Najarian Owns (LAZ) & (LAZ) Puts; Najarian Owns (MYL); Najarian Owns (RIMM) Call Spread; Najarian Owns (YHOO) & (YHOO) Puts; Terranova Owns (IBM), (QCOM), (GS); Finerman Owns (PDE), (TGT), (WMT), (BAC); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (PDE), (PBR), (RIG); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (UNG);

Deborah Weinswig
Citi Owns (TGT)
Citi Has Received Compensation for Investment Banking from (TGT)
(TGT) Has Been A Client Of Citi in the Past 12 Months
Citi Has Acted As Manager Of An Offering of Securities of (WMT)
Citi Has Received Compensation for Investment Banking from (WMT)
(WMT) Has Been A Client Of Citi in the Past 12 Months
Citi Is Market Maker in Shares of (WMT)

Rich Repetto
Sandler O'Neill Expects To Receive Compensation from (CME)
Sandler O'Neill Expects To Receive Compenation from (NYX)

For Brian Kelly
Kelly Owns (QCOM)
Kelly Owns (ORCL)