Crocs (CROX) popped 14%. After hitting a 52-week low last week, the shoe company soared higher; likely due to short-sellers taking profits and covering their downside bets. – I can see no reason why this stock would go higher than this, says Karen Finerman.
R.H. Donnelley (RHD) popped 16%. The yellow-pages publisher shot higher after Barron’s said the company may comeback this year if the directories remain popular, despite the negative impact from falling advertising revenue.
DROPS (stocks that slid lower)
Hershey (HSY) dropped 9%. After lowering outlook, the nation’s largest candy maker said it will have to raise prices to offset soaring commodity costs. – Also Stifel Nicolaus came out with a sell rating, adds Guy Adami.
Kroger (KR) dropped 5%. Following a ground beef recall last week the grocery store recalled a corn puff snack Monday. They also ratified a new labor contract. – It’s just pain, says Jeff Macke.
SanDisk (SNDK) dropped 10%. Citigroup analysts said to sell the stock following this month’s gains. – Be careful here, counsels Guy Adami.
Amylin (AMLN) dropped 13%. The FDA issued a safety advisory concerning the company’s diabetes drug Byetta due to reports that it might have caused pancreatitis in some patients. – Biotech is a tough space, says Pete Najarian.
DineEquity (DIN) dropped 11%. The parent of Applebee’s and IHOP announced a “sale-leaseback” of its corporate headquarters in an effort to repay its $350 million in debt. – The market is getting spooked, says Karen Finerman.
Boyd Gaming (BYD) dropped 13%. The casino said it will halt work on its Echelon casino-resort for nine months due to decreasing consumer spending and poor credit market conditions. – I think this is where the stock belongs, says Guy Adami.
Perfect World (PWRD) dropped 9%. The Chinese online-game developer missed estimates, due in part to the suspension of public entertainment following the earthquake. – I have no idea what to say, exclaims Jeff Macke.
Trina Solar (TSL) dropped 3%. The maker of solar power cells fell despite forecasting sales for the year that surpassed analysts’ estimates. – I guess everyone decided to get off the ship, says Pete Najarian.
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Trader disclosure: On Aug 18, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (AAPL) And Is Short (AAPL) Calls; Najarian Owns (CSCO) Call Spread, (SNDK) Call Spread, (ZMH) Call Spread; Macke Owns (MSFT), (UUP), (WMT), (COST), (DIS), (ATVID); Finerman Owns (GS)
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