Stocks On The Move: Circuit City, Morgan Stanley

Following are the day’s biggest winners and losers. Find out why shares of Circuit City (CC) and Morgan Stanley (MS) popped while Motorola (MOT) and Yahoo (YHOO) dropped.

POPS (stocks that jumped higher)

Circuit City (CC) popped 21%. Morgan Stanley (MS) popped 8%. Wachovia (WB) popped 4%. Nordstrom (JWN) popped 9%. All of these names dropped at the open and then moved higher on the rate cut.

Feliberto Carrasco. An 81-year old man in a small Chilean village shocked his grieving relatives by waking up in his coffin during his wake. Feliberto sprung "back to life" in the middle of the service, unharmed, and requesting only a glass of water.

Washington Mutual (WM) popped 9%. A massive Fed rate cut gave a leg up to the battered financials. – Good for them, says Karen Finerman.

Jacobs Engineering (JEC) popped 5%. This construction services firm jumped after first quarter profit surged 61%. – The story remains strong, says Guy Adami.

Williams-Sonoma (WSM) popped 12%. This upscale kitchenware retailer, rose along with a handful of other retail names upgraded today by Sanford C. Bernstein & Co. – Another retailer that was oversold, says Karen Finerman.

DROPS (stocks that slid lower)

Motorola (MOT) dropped 8%. The mobile phone maker slipped ahead of Wednesday's earnings announcement. Some analysts are expecting a 60% drop in profits. – The stock isn’t looking good, says Pete Najarian.

Yahoo (YHOO) dropped 4%. There was widespread chatter Wednesday that search giant may announce sweeping job cuts when it releases earnings on January 29th. Estimates range from 700 to 2,500 jobs slashed from its total workforce of 14,000 employees. – Sell what YHOO you have left, says Jeff Macke.

Exxon Mobil (XOM) dropped 3%. Crude fell below $90/barrel, proving that oil and other commodity stocks are no safe-haven in this sell-off. – XOM is starting be become compelling, says Guy Adami

Cisco (CSCO) dropped 6%. The biggest maker of computer networking equipment said it would spend $1.5 billion to expand into the United Arab Emirates. – I think it’s best in breed, but it might be early says Pete Najarian.

Corinthian Colleges (COCO) dropped 31%. The operator of career training schools said Sallie Mae and two other lenders halted loans for students considered to be a high credit risk. – Sound problematic, says Jeff Macke.

Small World Ride. Disneyland's iconic "It's a Small World" ride closed for a nine-month refurbishment. While Disney denies it, some followers of the company say the one of the reasons for the face-lift is that heavier riders were causing the flume boats to bottom out in spots. The average weight for US adults went up 25 pounds from 1960 to 2002.

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Trader disclosure: On Jan 22, 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 (DIS), (YHOO), (INTC); Finerman Owns (GS), (M); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MO), (SKS), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IWM), (SPY), (IJR), (MDY); Finerman's Firm And Finerman Own (CROX); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (RIO) Puts; Najarian Owns (BIIB), (C), (CSCO), (MS), (MSFT); Najarian Owns (WM) Calls, (YHOO) Calls, (AAPL) Calls, (NSC) Calls