Pops & Drops: Coach, Chico's

Following are the day’s biggest winners and losers. Find out why shares of Coach and Chico’s popped while Delta Air Lines and Big Lots dropped.

POPS (stocks that jumped higher)

Coach Inc (COH) popped 7%. The luxury retailer announced it plans to buyback up to $1 billion of its shares by June 2010. – On a valuation basis this stock looks interesting, says Guy Adami.

Chico’s (CHS) popped 2%. The apparel makers beat analysts’ estimates. – I’d stay away, says Jon Najarian. It had been up as much as 10% but couldn’t hold the gains.

EOG Resources (EOG) popped 5%. The Houston-based oil and gas producer received an upgrade from a Sanford Bernstein.

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DROPS (stocks that slid lower)

Delta Air Lines (DAL) dropped 5%. S&P reaffirmed its 'outlook negative' rating on Delta's corporate debt, and expects the airline to post a significant loss this year. – They tapped a big line of credit, explains Jon Najarian.

Big Lots (BIG) dropped 7%. Investors cashed out of this retailer after it reported strong earnings and raised guidance. – I’d stay away, counsels Quint Tatro.

CME Group (CME) dropped 5%. Bank Of America lowered its price target. – I’d avoid it until the end of the year, says Joe Terranova.

Smithfield Foods (SFD) dropped 7%. Higher feed costs and write-downs on commodity contracts sent investors scrambling for the exits. – I think it’s worth a look, says Quint Tatro.

Sanderson Farms (SAFM) dropped 11%. CEO Joe Sanderson, Jr. said the company will need "divine intervention'' to make a profit in the current quarter. – I think you have to give the CEO credit for being so candid, says Joe Terranova.

Solarfun (SOLF) dropped 5%. China’s solar cell producer closed lower ahead of Tuesday’s profit report. – There is a good chance they crush numbers, counsels Guy Adami.

Marvell Technology (MRVL) dropped 7%. The maker of chips for BlackBerry and iPhone received a downgrade from Jefferies from “Buy” to “Hold.”

Corinthian Colleges (COCO) dropped 19%. The for-profit operator of North American colleges and trade schools reported a loss and said it’s facing a challenging environment for students to obtain loans.

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Trader disclosure: On Aug 26, 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), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Tatro Owns (C), (GS); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (QQQQ), (SSO), (SPY), (FXI), (XLF), (IHI); Jon Najarian Owns (C), (EXM), (JPM), (UNG); Jon Najarian Owns (AAPL) Calls, (MRVL) Calls, (RMBS) Calls, (EWH) Calls; Jon Najarian Owns (PTEN) Call Spread; Terranova Owns (AAPL), (RIMM), (EOG), (VLO), (YHOO), (NOV), (KOL), (GS), (POT), (SA), (FCX); Terranova Owns (AIG) Puts

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)

Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)