Following are the week’s biggest winners and losers. Find out why shares of McDonald's (MCD) and Pepsi (PEP) popped while Advanced Micro Devices (AMD) and Simon Property Group (SPG) dropped.
POPS (stocks that jumped higher)
Exchange Stocks dropped but then popped. The Justice Department caused a major drop early this week when they said that the merger between CME and NYMEX might be anti-competitive. But shares for both exchanges rebounded after an aggressive rebuttal from the CME. – I think we’ll see more volatility here, says Karen Finerman.
McDonald's (MCD) popped 3%. The world's largest restaurant chain said January same-store sales were up 5.7%; however in the U.S, the gain was 1.9%. – Buy the dips, says Jeff Macke.
Pepsi (PEP) popped 1%. A soda "pop" for Pepsi, as sales of Gatorade lifted their domestic numbers, while snacks were big sellers overseas. – Nice job after a tough January, says Pete Najarian
Avon Products (AVP) popped 9%. International growth helped to touch-up this cosmetics company's earnings. – It had 3 straight upgrades this week, says Guy Adami. It’s a buy on a dip.
DROPS (stocks that slid lower)
Advanced Micro Devices (AMD) dropped 21%. Dell computers, which have traditionally relied on Intel's chips, said it would stop selling AMD-powered PCs on its website. – It doesn’t look good, says Guy Adami.
Allergan (AGN) dropped 6%. The wrinkle-smoother injections came under fire from the FDA and linked to cases of deadly botulism. – It’s probably going to be a setback for the stock, says Jeff Macke. Read our interview with Allergan CEO David Pyott.
Simon Property Group (SPG) dropped 12%. Commercial real estate continued to unravel this week. – Commercial real estate is starting to roll over, says Karen Finerman.
Chinese ETF (FXI) dropped 6%. This week's loss makes it a nearly 20% tumble for the Chinese markets since the "Year of the Rat" began. – I still think if we sneeze in America they catch a cold in China, says Pete Najarian.
Gambinos. A wide-sweeping crime raid put 62 mobsters connected to the Gambino family into custody, many for crimes that were committed in the 1970s and 80s, including characters such as "Jackie the Nose" "Tommy Sneakers" and "Mike the Electrician.
MBIA (MBI) dropped 11%. The troubled bond insurer sold $1 billion in stock at below-market prices to free up capital, helping to maintain its AAA rating.
BHP Billiton (BHP) dropped 11%. BHP made a $135 billion bid to buy rival Rio Tinto, which Rio rejected.
Weyerhaeuser (WY) dropped 10%. The real estate slowdown led to a loss for this lumber supply company, which closed mills and cut output this quarter.
IAC/Interactive Corp. (IACI) dropped 16%. Barry Diller's media conglomerate posted a $500 million operating loss at its LendingTree mortgage unit, leading to an unexpected 4th quarter loss for the entire company.
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Trader disclosure: On Feb.8, 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 (INTC), (YHOO), (DIS); Najarian Owns (AMR), (C), (CSCO), (EBAY), (MCD), (MS), (MSFT), (XLF), (YHOO), (BIIB); Najarian Owns (FRE) Puts, (AIG) Puts; Najarian Owns (CNET) Calls, (AAPL) Calls, (NWA) Calls, (SKS) Calls; Finerman Owns (GS); Finerman's Firm Owns (GE), (JCP), (MSFT), (SKS), (WMT), (YHOO), (AAPL), (MO); Finerman's Firm Is Short (IWM), (IJR), (IYR), (MDY), (SPY), (COF); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (CROX) And (CROX) Calls, ; Finerman Owns (CROX) And (CROX) Calls; Finerman's Firm Is Short (RTH), (SPG), (TCO)