CME Group (CME) popped 2%. The combined forces of the Chicago Mercantile Exchange and the Chicago Board of Trade posted a 68% jump in profits, thanks to record volume of traders betting on the direction of interest rates. – Karen Finerman sees a lot of strength across the board.
Diddy. Rap mogul Sean "Diddy" Combs, inked a deal with Ciroc Vodka (made by Diageo) for a 50-50 share in the profits. Diageo expects the deal could be worth as much as $100 Million. Dylan Ratigan says you can catch P. Diddy's interview with Donny Deutsch on "The Big Idea," 10pm ET, Wednesday on CNBC.
DROPS: (stocks that slid lower)
Cablevision (CVC) dropped 3%. The owner of the Knicks, Madison Square Garden, and the New York-area cable network, slid after shareholders rejected a $10.6 billion bid by the controlling Dolan family to take the company private. – Karen Finerman wouldn’t touch this stock.
AT&T (T) dropped 1%. Speculation that Ma Bell might buy into Direct TV or Dish sent shares down sharply mid-day. – Jeff Macke recommends buying dips in this stock.
Broadcom (BRCM) dropped 17%. The maker of chips for the Nintendo Wii saw its worst-ever drop after a plunge in quarterly profits and a slew of analyst downgrades. – Guy Adami speculates that the weakness could be a buying opportunity.
Whole Foods Market (WFMI) dropped 1%. The organic supermarket chain fell after the FTC announced they were taking the unusual step of trying to "undo" the merger with Wild Oats. – Jeff Macke doesn't know what to say.
Cheesecake Factory (CAKE) dropped 3%. The casual dining chain moved lower after missing analysts' revenue expectations. – Jeff Macke says casual dining is a problem.
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Trader disclosure: On Oct 24, 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 (DIS), (INTC), (ATVI), (YHOO) (EMC); Najarian Owns (C), (DISH), (EMC), (MSFT), (YHOO), (SNDK), (GOOG); Finerman Owns (GS); Finerman's Firm Owns (ASD), (BIIB), (CTX), (MSFT), (NYX), (NMX), (TGT), (WMT), (PLCE), (MO), (C); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm And Finerman Own (HD), (C), (FLS), (KALU)