Advanced Micro Devices (AMD) popped 2%. The chip maker surged after the Abu Dhabi government bought an 8.1% stake for $622 million. – Sell the rally says Guy Adami.
Lehman (LEH) popped 7%. The 4th largest securities firm said on Wednesday that it was 'net-short' mortgage debt positions. – This is a good time to short Lehman says Karen Finerman.
Delta Airlines (DAL) popped 21%. Shares gained altitude amid a flurry of merger speculation between Delta and United Airlines. – Jeff Macke recommends selling the airline stocks.
Corning (GLW) popped 10%. The world's largest maker of LCD glass for flat-screen televisions upped its profit outlook for the fourth quarter. – Pete Najarian likes this company.
Garmin (GRMN) popped 14%. he GPS navigation firm withdrew its bid to buy rival Tele Atlas. – They signed a deal with NAVTEQ which Karen Finerman likes.
Jack in the Box (JBX) popped 17%. Shares of the fast food chain rose the most in over a decade after beating fourth quarter profit estimates. – Jeff Macke likes JBX.
Sotheby's (BID) popped 16%. The auction house bid higher after Wednesday night's $316 million contemporary art auction set a record.
Crocs (CROX) popped 10%. The maker of the popular rubber clogs began to climb back, after a lowered forecast hammered shares earlier this month. – Karen Finerman still thinks CROX stock is undervalued.
Johnson & Johnson (JNJ),Pfizer (PFE) both popped 3%. Big Pharma is one sector with consistent strength in this topsy-turvy week: - Pete Najarian likes JNJ for Warren Buffet.
Drops: (stocks that slid lower)
Freeport McMoRan (FCX) dropped 9%. Slumping metals prices sent this miner lower.
Derek Jeter. The Yankee shortstop might owe New York State millions in back-taxes for claiming his primary residence was in Florida. Florida has no personal income tax.
POP and then a DROP:
Serendipity. New York restaurant Serendipity, made popular by the movie of the same name, popped into the record books last week with its $25,000 "Frozen Haute Chocolate", the most expensive dessert according to the Guinness Book of World Records. But, just days later, the famed restaurant dropped out of business temporarily due to a mouse and cockroach infestation.
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Trader disclosure: On Nov. 16, 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), (YHOO); Najarian Owns (EMC); Najarian Owns (CSCO) Options, (MSFT) Options,(YHOO) Options, (GOOG) Options; Finerman Owns (ASD); Finerman's Firm And Finerman Own (FTWR), (GS); Finerman's Firm Owns (KSS), (WMT), (CROX), (YHOO),(NYX); Finerman's Firm Owns (BEAS) Options, (BIIB) Options, (NVT) Options, (NMX) Options, (MSFT) Options; Finerman's Firm Is Short (LEH), (MTW), (IJR), (IYR), (MDY), (IWM), (SPY); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm And Finerman Owned (FTWR) On 9/11/07; Finerman's Firm Owned (BIIB) Options On 11/8/07; Finerman's Firm Owns (HD) And (HD) Options, Finerman Owns (HD)