Las Vegas Sands (LVS) popped 8%. Investors liked hearing that the casino company is gambling on India and intends to build a strip of casinos there. – I wouldn’t get involved, says Joe Terranova.
Boeing (BA) popped 3%. The aviation giant won a $4.3 billion Chinook helicopter Army contract. – I would not buy it here but if it gets down to $60 take a look, says Guy Adami.
Zale (ZLC) popped 20%. The jeweler announced 2009 profits that are above analysts’ expectations. – The short interest in this stock is enormous, reveals Karen Finerman. The pop could be short covering.
Western Refining (WNR) popped 5%. Investors bid up shares on the belief that Gustav could disrupt operations and increase fuel margins. – I like the reformulated gasoline story but I’m not sure this is the refiner to buy, says Joe Terranova.
Layne Christensen (LAYN) popped 13%. The water-and-mining services company beat on earnings and income jumped 58%. – I wouldn’t chase it, says Guy Adami.
Vimpel-Communications (VIP) popped 5%. Plans to sell the iPhone in Russia combined with strong profits sent this telecom higher. – I say stay away, counsels Jon Najarian.
Origin Agritech Ltd. (SEED) popped 13%. China’s corn-seed producer said third-quarter profits were up 63% on higher prices. – I’d let the stock slide lower before getting in, says Joe Terranova.
Jo-Ann Stores (JAS) popped 10%. More people might be making their own clothing; the largest U.S. fabric retailer raised its annual forecast. – I think this stock still has room on the upside, says Guy Adami.
DROPS (stocks that slid lower)
Williams-Sonoma (WSM) dropped 8%. So much for the joy of cooking. The gourmet-cookware chain lowered its full-year outlook. – Not good, says Karen Finerman.
DSW Inc. (DSW) dropped 4%. The shoe retailer reported same store sales decreased 7%, and reiterated its negative outlook on growth. – I like this stock at current levels, says Karen Finerman.
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Trader disclosure: On Aug 28, 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), (BTU), (GS), (INTC), (MSFT), (NUE); Jon Najarian Owns (C), (JPM); Jon Najarian Owns (AAPL) Calls, (MRVL) Calls, (NKE) Calls, (XLF) Calls, (AFL) Calls, (PMCS) Calls, (TIE) Calls; Jon Najarian Owns (UNG) Call Spreads; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound; Terranova Owns (AAPL), (RIMM), (EOG), (FCX), (GS), (KOL), (NOV), (POT), (SA), (X), (VLO); Terranova Owns (AIG) Puts; Terranova Is Long Dec. 2008 Reformulated Gasoline Futures; Terranova Is Long Crude Oil Time Spread (Long Oct. 2008 Crude Oil Futures, Short Dec. 2012 Crude Oil Futures)
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)