Fleetwood Enterprises (FLE) popped 6%. The RV and trailer home maker bounced with some of the other homebuilders. – Guy Adami calls the pop “madness!”
POPS AND DROPS (stocks that moved up and down)
Steak N Shake (SNS) popped 12% in regular trading, then dropped 10% in after hours. Investors bet earnings after the bell would be blowout and were wrong as the Indianapolis restaurant chain cut its forecast. – Pete Najarian says he likes their food, but not their stock.
DROPS: (stocks that slid lower)
Lehman (LEH) dropped 7%. A day after making the "pop" list the securities firm found itself among the hardest hit investment banks. – Pete Najarian says they need a captain for this ship – he thinks it’s going down.
Morgan Stanley (MS) dropped 5%. The investment bank also gets body-slammed by the King Kong of global risk. – Guy Adami thinks the stock will still move lower, but the time to buy is coming soon.
Family Dollar(FDO) dropped 12%. Weak apparel sales caused the discount retailer cut to cut its full-year forecast – Jeff Macke says get out of this stock.
Americredit (ACF) dropped 7%. The car loan company cut its full-year profit forecast. - Guy Adami says stay away from credit and autos on a day like Thursday.
Nike (NKE) dropped 5%. Philip Knight co-founded the shoe giant in 1972, but now he's getting out, dumping 200,000 shares this month. – Jeff Macke likes this company.
Snap-On Tools (SNA) dropped 12%. The hand tool company became the latest victim of traders selling anything with gains to raise cash. – Eric Bolling says this stock hasn’t been the same since Pamela Anderson started doing their ads.
BJ's Wholesale Club (BJ) dropped 8%. Same-store sales for the discount warehouse came in at less than half the level forecast by analysts. – Jeff Macke says it’s the worst of the club stores. Instead, he recommends buying Costco (COST).
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Trader disclosure: On Aug 9 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 (JWN), (INTC); Najarian Owns (GS), (AMSC); Bolling Owns (T), (BP), Gold, Silver; Bolling Owns Japanese Yen Futures