BlackRock (BLK) popped 1%. The largest publicly-traded asset manager said profits had nearly doubled -- thanks to booming hedge fund fees. – Nice earnings, says Karen Finerman.
Boston Scientific (BSX) popped 2%. The firm received a pair of upgrades for BSX yesterday from Bank of America, and another one today from Morgan Stanley. They both cited valuation as a reason to buy. – It looks okay, says Pete Najarian.
Bulldogs. After a 75 year absence, Bulldogs have crept back into the Top Ten of the American Kennel Clubs list of most popular pure-bred dogs. The cost of a typical purebred bulldog puppy is around $2,800. Yet again this year, the "Top Dog" is the labrador retriever, which has held the #1 spot since 1991.
Apple (AAPL) popped 1%. The stock popped for no clear reason. – The traders don’t know what to say.
Urban Outfitters (URBN) popped 1%. A Citigroup analyst said this company was one retailer bucking the trend of slowing consumer spending.
LDK Solar (LDK) popped 4%. The Chinese solar firm signed a 10-year agreement to supply wafers to Taiwan-based Neo Solar Power. Terms of deal were not disclosed. – On a day like Thursday, that’s impressive, says Pete Najarian.
DROPS (stocks that slid lower)
Freeport McMoRan (FCX) dropped 8%. Commodity stocks, like this copper and gold miner were pummeled on recession concerns. – Buy FCX Friday, says Guy Adami.
AIG (AIG) dropped 6%. The world's largest insurer fell in sympathy with the collapsing bond insurers Ambac & MBIA. – Insurance is out of favor right now, says Karen Finerman.
Harley Davidson (HOG) dropped 7%. Citigroup made HOG squeal with a downgrade to "Sell" from "Hold" citing declining consumer spending. – It’s been a long brutal ride, says Jeff Macke.
Perini Corp. (PCR) dropped 27%. This construction company crumbled after the developer behind its latest project, the Cosmopolitan Resort & Casino in Las Vegas, received a notice of loan default from Deutsche Bank. – Ouch, this company has issues, says Pete Najarian.
Alliance Data Systems (ADS) dropped 16%. Doubts were being raised over this credit card issuer's deal to be acquired by Blackstone. – I don’t have the courage to step in, says Karen Finerman. Wait.
PNC Financial (PNC) dropped 7%. Profit at this bank was down 53% in the 4th quarter on losses tied to the real estate downturn. – I think this will drop down to $49, says Guy Adami.
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Trader disclosure: On Jan 17, 2008, 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 (YHOO), (INTC); Pete Najarian Owns (BIIB), (C), (CSCO), (EBAY), (ETFC), (MS), (MSFT); Pete Najarian Owns (LEH) Puts; Pete Najarian Owns (AAPL) Calls, (AIG) Puts, (WM) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (PLCE); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns Russell 2000 Puts And Is Short (IWM); Finerman's Firm Owns S&P 500 Puts And Is Short (SPY); Finerman's Firm Is Short (IYR), (IJR); Finerman's Firm Is Short (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Is Short (HET) And Owns (HET) Puts; GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"