Radioshack (RSH) popped 14%. The third-largest U.S. electronics retailer said digital-TV converters drove sales. – This is a nice opportunity to trim your position in Radio Shack, says Jeff Macke.
Sanmina-SCI (SANM) popped 18%. Credit Suisse upgraded the company to 'Outperform' from 'Neutral' citing improving margins and valuations. – Stay away, counsels Tim Seymour.
AutoNation (AN) popped 11%. The largest publicly traded U.S. car dealer met expectations and announced new costs cutting measures. – Expectations are low, explains Jeff Macke.
Snooty The Manatee. Hundreds of visitors flocked to the South Florida Museum Parker Manatee Aquarium to celebrate Snooty the Manatee's 60th birthday, a milestone that makes Snooty the oldest manatee living in captivity.
DROPS (stocks that slid lower)
Southwest Airlines (LUV) dropped 6%. Despite posting a profit the airline headed south on oil’s renewed strength. – No matter how good a company they might be, they’re still in the airlines business, says Jeff Macke.
Pulte Homes (PHM) dropped 13%. The home builder reported its seventh consecutive quarterly loss leaving investors to wonder when will it end? – Housing sector equals bad, says Karen Finerman.
Mechel (MTL) dropped 38%. The Russian metals and mining company plunged after Vladimir Putin called for an investigation by antitrust authorities. – I think this company is worth a shot, says Tim Seymour.
Chipotle Mexican Grill (CMG) dropped 20%. Results from the Mexican fast food operator were a little bland due to rising commodity costs. – They’re great operators but they can’t overcome commodity costs right now, says Karen Finerman.
Taco Bell. Rapper 50 Cent filed suit against the fast food chain for stealing his identity. The suit charges that Taco Bell ads featuring 50 Cent being encouraged to change his name to 79 Cent, 89 Cent or 99 Cent, were 'diluting the value of his good name.'
Xerox (XRX) dropped 5%. The company posted 2nd quarter earnings that fell 19% due partly to lower prices. – I wouldn’t touch it, says Joe Terranova.
Scholastic Corp. (SCHL) dropped 7%. The Harry Potter publisher missed analysts' estimates and said it would cut jobs. – Doesn’t sound so good, says Karen Finerman.
Starwood Hotels (HOT) dropped 11%. Not a lot of people on vacation these days and that dragged down guidance.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On July 24, 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), (MSFT); Finerman Owns (GS), (WM); Finerman's Firm Owns (SUN), (TSO), (VLO), (MSFT); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (BBT); Seymour Owns (AAPL), (BAC), (F), (MER), (MSFT), (TSO), (BX); Seygem Asset Management Is Short (MTL); Seygem Asset Management Owns Gazprom
Terranova Owns (YHOO), (INTC), (IYT), (BNI), (GOOG), (CME), (RIMM), (VLO), (SA), (XLF), (FCX), (SU); Terranova Is Long Crude Oil September $154 Calls, Terranova Is Short Crude Oil September $130 Calls, Terranova Is Short Crude Oil September $130 Puts, Terranova Is Long Gold Futures (December)
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; 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)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Charles Schwab Is A Sponsor Of "Fast Money"