POPS (stocks that jumped higher)
Countrywide Financial (CFC) popped 7% this week. The nation’s largest mortgage lender got some breathing room this week after it secured another $12 billion in credit. – Karen Finerman said they needed that liquidity.
Yahoo (YHOO) popped 4% this week. The search engine surged after a Sanford Bernstein analyst suggested it cut workers and sell its paid search service. – Yahoo is “dead” to Jeff Macke. He wants it to just go away.
Monsanto (MON) popped 5% this week. A record in wheat prices along with a new weed-resistant seed for corn boosted this ag play. – This stock has been bulletproof since 2003, Guy Adami said. “It’s probably still cheap.”
Rambus (RMBS) popped 16% this week. The semiconductor equipment firm rocketed higher on takeover speculation. – Pete Najarian is still bullish, especially on the new speculation.
Defense/aerospace names Boeing (BA), Rockwell Collins (COL) and Raytheon (RTN) all popped at least 5% this week. The nation’s “military might” names were on the offensive all week. – These names are economy-proof and political party-proof, Guy Adami said. He likes the whole bunch.
Dick’s Sporting Goods (DKS) popped 5% this week. After the sports retailer announced a 2-for-1 stock split, shares were headed for a touchdown. – Jeff Macke, who “marked up” the company this week, said it remains to be an “incredible” long-term retail story.
Safeway (SWY) popped 6% this week. The supermarket earned super returns this week on virtually no news. – Jeff Macke said it has regained some lost ground, and he owns it as an investment. It’s just not that exciting, he said.
DROPS (stocks that slid lower)
CSX Corp. (CSX) dropped 5% this week. – The company has said cautious things so proceed with caution, Guy Adami said. He thinks $34 is the “absolute bottom” in CSX.
Frieghtcar America (RAIL) dropped 9% this week. This trained grinded to a halt as Jefferies said the order cycle for new trains would be stuck in the station until 2009. – Karen Finerman can’t quite figure this out. She has wanted to buy it, and it keeps getting cheaper, but there could be “something else going on” that she doesn’t understand at this point.
DirecTV (DTV) dropped 5% this week. Even the NFL’s blowout ratings last weekend couldn’t help the satellite TV company. – The NFL package is the best thing it has going, Jeff Macke said, but the gap is closing between satellites and cable companies.
Leap Wireless (LEAP) dropped 9% this week. The maker of Cricket and JumpMobile dropped as a company board member, CFO and the head of investors relations jumped ship. – Karen Finerman is extremely weary of this story. It’s never a good sign when a company gets a takeover bid and the people at the top quit.
POP ... AND A DROP
ImClone (IMCL) popped 30% then lost most of its gains. It jumped early this week after a Phase III trial of Erbitux showed it prolonged the life of lung cancer patients. Then it gave up most of that gain after a Friedman Billings Ramsey analyst said doctors were not yet convinced. – You can’t buy these kinds of stocks and expect a short-term return, Pete Najarian said.
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Trader disclosure: On Sept. 14, 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), (SWY); Najarian owns (CREE), (GS); Finerman’s Firm Owns S&P 500 Puts, Russell 2000 Puts, (BEAS), (ASD), Is Short (LEAP); Finerman’s Firm and Finerman Own (HD)