Stocks rallied in the final hour to finish near session highs Monday, erasing their earlier losses in choppy trading, following an FT report that China was in talks with Italy to purchase its bonds.
The "Fast Money" traders, though, were watching these market movers.
POPS (stocks that went higher)
McGraw-Hill (MHP) popped 4%: The publishing firm's stock gained after the company announced it would separate into two public companies by the end of 2012. Guy Adami, managing partner at Drakon Capital, thinks this stock has room to run to the upside.
Cisco Systems (CSCO) popped 2%: The technology company saw shares rise ahead of its analyst meeting on Tuesday.
Fairchild Semiconductor (FCS) popped 4%:NetLogic Microsystems surged almost 50 percent after Broadcom agreed to acquire the chipmaker for in a deal valued around $3.7 billion. In turn, FCS and other chipmakers' stocks rallied. Joe Terranova of Virtus Investment Partners wouldn't buy FCS, though. He prefers ON Semiconductor.
IMAX (IMAX) popped 4%: The entertainment company will get "Men In Black III" when it is released in 2012, options trader Scott Nations said.
DROPS (stocks that went lower)
Tenet Healthcare (THC) dropped 10%: This move is interesting to trader Tim Seymour, considering there was little movement in the health care sector. The stock trades at 3 times earnings and while it's interesting from a valuation standpoint, Seymour doesn't recommending jumping in right now.
Newmont Mining (NEM) dropped 2%: Trader Jon Najarian noted this stock dropped with the price of gold. Some think the gold names will bounce, though.
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Trader disclosure: On Sept. 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian owns call spreads in (ANF). Jon Najarian owns call spreads in (AAPL). Jon Najarian owns call spreads in (XOM). Jon Najarian owns (CIGX). Tim Seymour owns (AAPL), (BAC) and (INTC). Guy Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE) and (BTU). Dan Nathan owns (AMZN) puts. Dan Nathan owns (AAPL) calls. Dan Nathan owns (BAC) puts. Dan Nathan owns (GS) calls. Dan Nathan owns (JPM) puts. Dan Nathan owns S&P 500 puts. Joe Terranova owns (XOM), (DIS), (WFM), (LULU), (MSFT), (TM), (JWN), (ORCL), (PEP), (MA), (BX), (GS), (DAR), (CAT), (VRTS), (AAPL), (CAT), (CVI), (IBM) and (FCX).
Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (RLI)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC
CNBC.com with wires.