Nucor (NUE) popped 5%. This steel company turned red hot after better than expected earnings and revenue. – Guy Adami revealed there’s a lot of takeover chatter in steel stocks.
Steve Madden (SHOO) popped 26%. Shareholders of Steve Madden kicked up their heels, as the company said it had hired advisers to weigh "strategic options" and a possible sale of the company. – Karen Finerman said she’s intrigued.
DROPS: (stocks that slid lower)
IBM (IBM) dropped 5%. Big Blue fell due to a 10% drop off in sales at their hardware business. – Jeff Macke said not to buy the dip.
Capital One (COF) dropped 12%. The biggest independent U.S. credit-card issuer posted a loss, due to charges from shutting down its GreenPoint Mortgage business. – “I wouldn’t touch it with a ten foot pole”, was Karen Finerman’s comment.
eBay (EBAY) dropped 8%. Shares of the online auctioneer were bid down on growth concerns. – Jeff Macke recommended getting long EBAY in the mid-30’s.
Ericsson (ERIC) dropped 29%. When the CEO said "This is a day to be humble, concerned and disappointed" -- you knew it was going to be a rough week. – Pete Najarian felt the weakness was specific to Ericsson and not industry-wide.
The Dow 20 Years Ago. On October 19th, 1987, the Dow Jones Industrial Average dropped 508 points -- a 23% loss in a single day.
Goldman Sachs (GS) dropped 7%. From brokers such as Goldman to money-center banks, the entire financial sector took a drop this week. – Guy Adami recommended buying the pullback at $215.
SanDisk (SNDK) dropped 10%. The chipmaker short circuited, after earnings were hit by price decreases that are expected to continue into the 4th quarter. – Pete Najarian speculated that Intel could be interested in a takeover.
Dione Warwick & Sinbad. The two are among California's worst tax scofflaws, each owing the state more than $2 million.