Pops & Drops: Schlumberger, Home Depot...

Following are the day’s biggest winners and losers. Find out why shares of Schlumberger and Longs Drug Stores popped while Home Depot and Liz Claiborne dropped.

POPS (stocks that jumped higher)

Dr. Pepper Snapple Group (DPS) popped 5%. Our nation’s third-largest beverage company beat on earnings and raised their full-year outlook. – I don’t like to own the number 3 player, says Karen Finerman.

Schlumberger (SLB) popped 4%. The world’s biggest oilfield contractor received the okay to buy Canada’s Saxon Energy Services along with First Reserve Corp, in an effort to expand into South America. – I’d keep an eye on it, says Pete Najarian.

Longs Drug Stores (LDG) popped 31%. CVS agreed to buy this drug store chain with 370 stores in 6 Western states. – They got a nice price, says Jeff Macke.

Cree, Inc. (CREE) popped 16%. The future’s so bright this LED maker’s got to wear shades. In other words, outlook beat Street expectations. – It’s almost back to where it started the quarter, explains Pete Najarian.

NVIDIA (NVDA) popped 11%. The company announced plans to add $1 billion to its buyback plan, almost half of the shares outstanding. – I think the stock has a floor at current levels, says Guy Adami.

Toll Brothers (TOL) popped 1%. The luxury home builder sees strength in the housing market and beat analysts’ expectations on revenue.

DROPS (stocks that slid lower)

Home Depot (HD) dropped 3%. Concern the credit crisis will worsen dragged down this home giant. – I think it will go higher but probably it goes lower first, says Guy Adami.

Liz Claiborne (LIZ) dropped 12%. The clothing maker reported a loss and lowered its full year forecast. – It’s hard for them, says Karen Finerman.

Brunswick (BC) dropped 5%. New reports suggest consumers are still avoiding big-ticket items. – Jeff Macke says, this surprises you?

Tween Brands (TWB) dropped 46%. The teen-apparel chain dropped the most since 1999 after they announced plans to convert Limited Too stores to their lower-priced Justice brand.

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Trader disclosure: On Aug 13, 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 (MSFT), (WMT), (COST); Adami Owns (C), (GS), (INTC), (AGU), (BTU), (MSFT), (NUE); Pete Najarian Owns (AAPL), (TSO), (HD); Pete Najarian Owns (BGG) Puts; Pete Najarian Owns (CSCO) Calls; Pete Najarian Owns (NOK) And Is Short (NOK) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (VLO), (RIG), (MO); Finerman's Firm And Finerman Own (C) Leap; Finerman's Firm Owns (ANF) And (ANF) Call Spreads; Finerman's Firm Is Short (XLF), (BBT), (COF), (WB), (IYR), (IJR), (IWM), (SPY), (BAC); Finerman's Firm Is Short British Pounds

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