Wynn Resorts (WYNN) popped 6% and and Las Vegas Sands (LVS) popped 9%. Both casinos moved up on news their Macau operations are producing healthy returns.- It’s also due to a huge buy-back, adds Jeff Macke.
Biogen Idec (BIIB) popped 3%. Merrill Lynch upgraded the biotech to 'Buy' from 'Underperform' citing earnings growth potential and an improved outlook for their multiple sclerosis treatments. – Keep an eye on their earnings, says Pete Najarian.
Valero Energy (VLO) popped 8%. The sector traded higher for no clear reason. – Sideways oil allows the refiners to bide their time, explains Joe Terranova.
Janet Jackson. A Federal judge tossed out the $550,000 fine levied against CBS after Jackson's 'wardrobe malfunction' during the 2004 Super Bowl halftime show. The judges said the FCC 'acted arbitrarily and capriciously' in fining the network for a 'fleeting image of nudity.'
Transalta Group (TAC) popped 15%. Canada's largest generator of wind power soared after two investment groups made a $7.8 billion offer to take the company private. – That’s the end of this one, says Pete Najarian. Nice pop.
Timken Co. (TKR) popped 22%. The specialty alloy and bearings maker said it expects 2nd quarter profit to exceed expectations and boosted its full-year guidance. – Bada-bing, exclaims Pete Najarian.
Fish Pedicures. The latest spa craze to hit US Shores is the fish pedicure, a procedure where feet are dunked in a tank of carp and the fish then proceed to feast on the scaly skin.
DROPS (stocks that slid lower)
ArthroCare (ARTC) dropped 42%. The medical device maker tanked after it announced plans to restate earnings for '06, '07, and the latest quarter. – That’s never a good thing, says Karen Finerman.
Hasbro (HAS) dropped 2%. The toymaker said high oil prices were hurting its bottom line. – I’m sticking with this stock, says Jeff Macke.
CME Group (CME) dropped 2%. The exchange operator dropped ahead of earnings Tuesday. – I expect CME to rally, says Joe Terranova.
Winnebago (WGO) dropped 5%. CEO Robert Olson said the RV market was deteriorating. – They get about 3 miles per gallon; what did they expect, exclaims Jeff Macke.
Royal Caribbean Cruise Lines (RCL) dropped 6%. Investors fear the high cost of fuel could reduce the company's profit, substantially. – I think the best they can do is flat earnings, says Joe Terranova.
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Trader disclosure: On July 21, 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 (WMT), (HAS), (ATVID), (GS), (DIS); Najarian Owns (AMLN), (TSO); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (FHN) Puts; Najarian Owns (MRK) Calls, (YHOO) Calls, (CSCO) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (PDE); Finerman's Firm Owns (GE), (MRK), (MSFT), (PPH), (PFE), (SUN), (TSO), (VLO), (AXP); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY)
Terranova Owns (RIMM), (GOOG), (YHOO), (INTC), (VLO), (IYT), (CME), (BNI), (FCX), (XLF), (SU); Terranova Is Long Crude Oil Sept. $154 Call; Terranova Is Short Crude Oil Sept. $130 Call; Terranova Is Short Crude Oil Sept. $130 Put; Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.,Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO
Phoenix Investment Partners Owns More Than 1% Of (DBV), (RWX(, (LNET), (EXR), (SKT), (DLR), (IGE), (ARE), DBC), (ABD), (OFC), (CLB), (BLV), (CNTY), (FL), (HPC), (PSPT), (ESS), (OIIM), (BIG), (ENG), (PFD), (DRH)
Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
NBC Universal Is The Parent Company Of CNBC