Stocks on the Move: Chipotle, Amylin and More

POPS (stocks that jumped higher)

SIRF Technologies (SIRF) popped 28%. The maker of chips for global positioning systems beat profit estimates, thanks to booming demand for the chips in mobile phones and cars. Najarian: The options activity pointed to this kind of move. The whole GPS navigation complex is faring well.

Shipping stocks (DSX, EXM, DRYS) all popped more than 8%. Across the board, the shipping names looked good Wednesday. Najarian: Someone has to move the commodities that are in such demand. Companies like Diana, DryShips and Excel Maritime do just that.

Newmont Mining (NEM) popped 10%. The second largest gold producer in the world said profit had doubled because of surging metal prices. Adami: Beware; NEM’s cost per ounce is up. It wouldn’t hurt to take some profits.

Boyd Gaming (BYD) popped 7%. The operator of the Borgata in Atlantic City and the El Dorado in Vegas sprung to a profit after a loss a year earlier on growth in its Nevada locations. Adami: BYD will eventually get taken over.

Alcatel-Lucent (ALU) popped 4%. Shares of the world’s largest maker of telecom equipment popped on word it would cut 4,000 jobs on top of the 12,500 jobs cut in February. Worth: Job cuts are no reason to buy a stock. “Stay away.”

Chipotle Mexican Grill (CMG) popped 4%. The Mexican food chain sizzled, posting a 72% increase in profits, handily beating estimates. Worth: There’s more upside left in CMG. It hasn’t overextended itself yet.

China ETF (FXI) popped 3%. The Chinese market continued its charge higher. Worth: This ETF has doubled in the last six months. That should signal caution.

DROPS (stocks that slid lower)

Buffalo Wild Wings (BWLD) dropped 21%. The latest casualty in the soft commodity surge: BWLD missed price targets, citing rising food costs. Macke: With the exception of Chipotle, casual dining looks dead. Get out of the space.

Amylin (AMLN) dropped 4%. A classic case of selling good news as shares of the biotech dropped after a positive report on a once-weekly verision of its diabetes drug Byetta (currently sold as a twice-a-day treatment). Najarian: The new Byetta is only in Phase II trials. It’s still a while from hitting shelves.

LodgeNet Entertainment (LNET) dropped 14%. The provider of on-demand programming in hotel rooms forecast a lower-than-expected full year earnings, citing reduced profitability from its ‘OnCommand’ acquisition. Macke: This company is antiquated and the stock is “dead money.”

MILE HIGH CLUB. The Airbus A380 is the first passenger jet to feature double-bed suites, but Singapore Airlines has prohibited sexual activity in the private cabins. Adami: Double-bed suites with curtains on a plane? Sounds like an invite for 'naughty' behavior.

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Trader disclosure: On Oct 31, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian owns options in (BIDU), (GOOG), (MER), (YHOO); Macke owns (YHOO), (DIS); Carter Worth’s firm is a market maker in (DRYS), (YHOO)