Following are the day’s biggest winners and losers. Find out why shares of Texas Instruments and Sunoco popped while Aetna and Amazon dropped.
POPS (stocks that jumped higher)
Texas Instruments (TXN) popped 2%. Investors bid the chip maker higher after Kaufman upgraded rivals Marvell and Nvidia. - The tech trade is strong, says Pete Najarian.
Sunoco (SUN) popped 2%. Investors considered a drop in crude oil stockpiles bullish for this refiner although it’s worth noting they only fell by 1.5 million barrels while expectations were for a 2-million. - If you want to trade this stock I'd make $24.25 your stop out, says Joe Terranova.
Dell (DELL) popped 3%. Speculation suggests next week’s Consumer Electronics Show may be a bullish catalyst for the PC maker. - Also, I think Dell is in the sweet spot for a corporate upgrade cycle, says Brian Kelly.
DROPS (stocks that slid lower)
Aetna (AET) dropped 2%. The company said it expects to take a charge of $60 million to $65 million in the fourth quarter to cover previously announced job cut costs and real estate consolidation. - I prefer to play IBB, reveals Steve Cortes.
Amazon (AMZN) dropped 2%. Investors continued to take profits after the stock touched a 52-week high. - It think we see Amazon trade in a range between $125 and $145 before it breaks higher, muses Joe Terranova.
Microsoft (MSFT) dropped 1%. Investors may be worried Microsoft is moving in the wrong direction, after a published report suggested the firm will concentrate efforts on expanding gaming from its Xbox console to handheld devices.
MGM Mirage (MGM) dropped 2%. Oppenheimer said its positive prospects are already priced in.
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