DROPS (stocks that slid lower)
Posco dropped 8%. Higher raw costs led Goldman Sachs to cut this Korean steelmaker to “sell.” Jon Najarian: Iron ore and coal prices are too high for profitable steelmaking.
Emerson dropped 4%. Demand for power systems from refineries led to a 27% jump in earnings but the stock still fell. Finerman: should have been a pop, not a great day to release good numbers
Toyota dropped 4%. Slowing U.S. demand and a weaker dollar may hurt earnings this quarter, according to the company. Macke: If it has wheels, sell it.
SiRF Technologies dropped 55%. Pricping pressure hurt profits at this maker of GPS chips. Jon Najarian: GPS devices are not in demand and probably won’t be until next Christmas.
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Trader disclosure: On Feb.5, 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), (DIS), (INTC); Finerman Owns (GS); Finerman's Firm Owns (NMX), (RTP), (SKS), (TSO), (TYC), (VLO), (WMT), (SUN); Finerman's Firm Owns (YHOO) And (YHOO) Calls; Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MDY), (CME), (COF), (BHP); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Jon Najarian Owns (CME), (DIS), (MRK), (CMC), (YRCW); Jon Najarian Is Short (AIG), (XOM); Jon Najarian Has A Protected Long Position In (XLF) Through Options