Pops & Drops: Home Depot, Prudential...

Following are the week’s biggest winners and losers. Find out why shares of Home Depot and Prudential popped while Google and Alcoa dropped.

POPS (stocks that jumped higher)

Home Depot (HD) popped 5%. The homebuilder popped this week, after Goldman upgraded rival Lowe’s to “Buy.” – I think the news about Fannie / Freddie should be positive for this stock, says Guy Adami.

ADC Telecommunications (ADCT) popped 3%. The maker of phone equipment for AT&T forecast 2008 sales that beat analysts’ estimates.

Prudential (PRU) popped 1%. The second-largest US life insurer rallied this week after Barron’s recommended the stock as a good buy.

DROPS (stocks that slid lower)

Google (GOOG) dropped 7%. The Internet giant slipped after introducing its new web browser called Chrome. – Their growth is slowing, explains Jeff Macke.

Alcoa (AA) dropped 11%. The commodities slump turned this stock into a huge drag on the Dow. – The problem in commodities right now is bad, says Pete Najarian.

Oil Service Holdrs ETF (OIH) dropped 6%. The oil ETF moved lower after Gustav caused little damage to drilling platforms in the Gulf of Mexico. – At this level I’d get long, says Karen Finerman. I think the selling is overdone to the downside.

Johnson & Johnson (JNJ) dropped 2%. The FDA required arthritis and autoimmune drugs to carry stronger warnings about fungal infections. – I think the fundamentals are still in tact here, says Guy Adami.

Amazon.com (AMZN) dropped 5%. The nation’s largest e-tailer was dragged down by both tech and retail. – It’s a crazy market, exclaims Jeff Macke.

Advanced Micro Devices (AMD) dropped 8%. Merrill downgraded the company to “Under Perform” due to skepticism about its ability to turn a profit next quarter. – The whole space looks awful, says Pete Najarian.

Hovnanian (HOV) dropped 14%. The homebuilder reported a larger-than-expected quarterly loss amid the continuing housing slump. – They have a lot of debt on the balance sheet, explains Karen Finerman.

Freeport McMoRan (FCX) dropped 13%. Lower copper prices dragged down this miner which is sometimes traded as a proxy for copper. – If the metals start to turn you might want to own this stock, says Guy Adami.

Safeway (SWY) dropped 3%. Morgan Stanley downgraded this supermarket to “Underweight”, citing the grocer’s high prices.

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Trader disclosure: On Sept 5, 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), (DIS), (ATVI); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL), (AAPL) Collar; Najarian Owns (RIMM) Call Spread; Najarian Owns (VMED) Puts; Najarian Owns (XLF), (XLF) Collar; Najarian Owns (ZMH) Calls; Najarian Owns (XLE) Call Spread; Najarian Owns (FTO) Calls; Najarian Owns (NOK) And Is Short (NOK) Calls; Finerman Owns (GS); Finerman's Firm Owns (MO), (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm Owns (AAPL) Calls; Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Owns (IRF) Calls; Finerman's Firm Is Short (BBT), (COF), (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound