Following are the day’s biggest winners and losers. Find out why shares of Dell and FedEx popped while MBIA and Harman International dropped.
POPS (stocks that jumped higher)
Dell (DELL) popped 4%. Goldman Sachs reinstated its rating on the company at ‘buy,’ citing a new corporate cycle of demand beginning in 2010. - I'd get long if it breaks above $16.50, says Joe Terranova.
Dow Jones Us Real Estate ETF (IYR) popped 2%. Investors turned bullish due to positive economic data. - When the market is up and the risk trade is up, this seems to pop, muses Karen Finerman.
FedEx (FDX) popped 3%. Barron’s said the company was well positioned overseas in China and has good operating leverage. - I like other names in the space, says Gary Kaminsky.
Brazil Index ETF (EWZ) popped 2%. Strong commodity prices boosted this ETF as well as data which showed job growth in Brazil grew at a faster than expected rate. - Keep an eye on it, says Tim Seymour.
Intel (INTC) popped 2%. The company’s board approved a 13% dividend hike, saying it is confident in future business. - I'd play the space with the SMH and spread out the risk, counsels Joe Terranova.
Merck (MRK) popped 2%. The drug maker told CNBC that the company won’t pull cholesterol pills Vytorin and Zetia off the market despite a study that found they didn’t reopen clogged arteries as well as Abbott's Niaspan.
Sprint Nextel (S) popped 15%. Credit Suisse upgraded the firm to ‘outperform’ from ‘neutral’ saying the company is showing progress with its turnaround efforts. Sprint also said it has paid down $1bln on a $4.5bln revolving loan.
ArcelorMittal (MT) popped 4%. JPMorgan boosted the sector, adding this firm as well as US Steel to its focus list, due to upside earnings potential.
DROPS (stocks that slid lower)
MBIA (MBI) dropped 8%. The world’s largest bond insurer, fell the most in nine months after posting a bigger- than-expected third-quarter loss.
Harman International (HAR) dropped 2%. With gains of nearly 40% over the past 3 months investors took some profits and rotated into other areas of the market.
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Trader disclosure: On November 16th, 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), (EEM), (GE), (INTC); Finerman Owns (RIG), (FLS); Finerman's Firm Owns (CSCO), (RIG), (MSFT), (NOK), (PLCE), (TGT); Finerman's Firm Is Short (USO); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (WMT); Finerman's Firm Is Short (IJR), (MDY), (IWM), (UNG); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (FLS), Is Short (FLS) Calls; Terranova Owns (GS), (JPM), (SU), (AAPL), (GOOG); Terranova Works For (VRTS); Terranova Owns Dec. Crude Oil . Futures; Terranova Owns Dec. Gold Futures; Terranova Owns Dec. Nat Gas Futures
For Brian Kelly
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Kelly Owns (ELX) Calls