Stocks On The Move: Callaway Golf, Allstate...

Following are the day’s biggest winners and losers. Find out why shares of Callaway Golf (ELY) popped while Allstate (ALL) and The China ETF (FXI)  dropped.

POPS (stocks that jumped higher)

Callaway Golf (ELY) popped 12%. This company scored a hole in one for its Big Bertha clubs, and improved margins sent profits higher. – Jeff Macke said the stock is “pretty nice.”

Logitech (LOGI) popped 23%.The world's largest computer mouse maker double-clicked its way higher, after profits beat estimates thanks to sales of other peripherals like keyboards and speakers. – (We didn’t have enough time get to this "pop" on the show, but I thought you’d like to read about it, anyway.)

DROP & POP (stocks that slid lower and jumped higher)

American Standard (ASD) dropped 3%, but then recovered. The air conditioning manufacturer cut its 2007 forecast, and blamed the weak housing market. Shares dropped 3% at the open, but rallied back to positive territory by the close. – Karen Finerman thought the valuation was still cheap.

DROP (stocks that slid lower)

Allstate (ALL) dropped 4%. The largest public home and auto insurer suffered a 16% drop in revenue, because they took less-risky bets in hurricane and earthquake prone states. Guy Adami said at $50 he finds this stock compelling.

The China ETF (FXI) dropped 3%. The rollercoaster ride in the Chinese markets continued. Pete Najarian said he thinks the FXI will keep bouncing around.

(We didn't have enought time to get to any of the "drops" listed below this point, but I thought you might like to read about them anyway.)

Hershey (HSY) dropped 3%. Shares of the chocolate king melted after higher milk prices and lost market share to Mars hurt profits and forced them to lower forecasts.

E*Trade (ETFC) dropped 8%. The online broker’s subprime exposure caused the company to report an unexpected loss.

Washington Mutual (WM) dropped 8%. An analysts rating cut took its toll on the nation’s largest savings and loan.

SAP (SAP) dropped 3%. The world's largest maker of business-management software fell after 3rd quarter revenue slid due to lower sales in the Americas. 

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Trader disclosure: On Oct 18, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC); Najarian Owns ( C), (GOOG)(CY); Najarian Owns (SNDK) Options; Finerman Owns (C), (GS); Finerman's Firm And Finerman Own (ASD), (KALU); Finerman's Firm Owns (NYX), (MSFT), (LTD), (BIIB), (BEAS), (COP), (TGT), (VMSI), (WMT); Finerman's Firm Owns S&P 500 Index Puts; Finerman's Firm Owns Russell 2000 Index Puts