Leggett & Platt popped 15%. This manufacturer, which makes everything from office furniture to car seats, was upgraded to “outperform” by Raymond James. Adami: The company guided higher which bodes well for the economy.
DROPS (stocks that slid lower)
International Game Technology dropped 6%.The slot machine maker fell after earnings were impacted by slowing gambling revenues nationwide. Najarian: Not surprising. All the big casinos have been essentially cut in half.
Watts Water Technologies dropped 18%. One “pump and valve” company that’s not working, Watts posted profits short of expectations leading S&P to downgrade the stock. Finerman: This company is NOT Flowserve . Its big residential business is probably what hurt it.
Texas Instruments dropped 3%. Nokia’s disappointing results whacked this maker of cell-phone chips. Adami: Since last summer the chart has looked absolutely lousy.
eBay dropped 3% Despite beating profit expectations, the online auctioneer said a sluggish U.S. economy could weigh on its business. Najarian: Just a little pullback after a nice run.
Chesapeake Energy dropped 3%. Natural gas fell for the first time this week, leading CHK lower. Adami: “This will be a buy again.”
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Trader disclosure: On Apr. 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: Najarian Owns (AAPL), (BIIB), (CSCO), (ETFC), (NOK), (TSO), (XLF), (YHOO), (BSC) Calls, (CHK) Calls, (COP) Calls, (GOOG) Calls, (MSFT) Calls, (POT) Calls; Finerman’s Firm Is Short Pounds, (IYR), (IJR), (SPY), (IWM), (MDY), (COF), Owns (BJS), (MO), (MSFT), (NYX), (SUN), (TSO), (VLO), (YHOO); Finerman Owns (GS); Finerman’s Firm and Finerman Own (FLS); Macke Owns (MSFT), (DIS), (YHOO), (INTC)
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