Amgen (AMG) popped 4%. The biotech company popped as investors believe it will present positive bone drug data next week. – If the data is good then giddyup, says Pete Najarian.
Hershey (HSY) popped 8%. The candy maker went up as commodity prices went down. – If it can get above $42 then it could go to $48, says Joe Terranova.
CSX Corp. (CSX) popped 6%. The railroad company chugged higher after it raised its profit forecast and also on higher coal prices. – It looks pretty good for these guys, says Tim Seymour.
Chipotle Mexican Grill (CMG) dropped 18%. The burrito chain dropped after saying third-quarter profit will be lower than last year, due to higher costs and weak consumer spending. – Hell hath no fury like a stock scorned, exclaims Jeff Macke. But stay away.
Sears (SHLD) popped 11%. Investors think the department store is well positioned ahead of the holiday season. – Also Credit Suisse upgraded the stock, says Pete Najarian.
Valero (VLO) popped 8%. The largest US refiner moved up as the crack spread on refining profits increased more than 35%. – In the last 7 weeks, we’ve worked off 28 million barrels of reformulated gasoline inventory and that’s bullish for refiners, says Joe Terranova.
Greenhill & Co. (GHL) popped 5%. The boutique investment bank popped after Wachovia raised the company to outperform.
Mechel (MTL) popped 8%. The Russian mining and metals company popped this week after announcing a new ‘long wall face’ has been commissioned at one of its mines, which will yield almost 1.5 million tonnes of coal.
DROPS (stocks that slid lower)
Buffalo Wild Wings (BWLD) dropped 4%. The bar and grill operator finished the week lower after Morgan Keegan downgraded the stock to “market perform” from “outperform” based on valuation .
GameStop (GME) dropped 6%. The world’s largest video-game retailer closed down along with most retailers as same store sales in August dropped.
IntercontinentalExchange (ICE) dropped 8%. The operator of futures exchanges in NY, London, and Winnipeg slid after word hit that its acquisition of Creditex could weigh on the company.
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Trader disclosure: On Sept 12, 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 (WMT), (MSFT), (UUP); Macke Is Short (TM); Seymour Owns (AAPL), (F), (GM), (MER), (SHLD), (TSO); Seygem Asset Management Owns (EEM); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (GE) Put Spread; Najarian Owns (HOLX) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (NOK) And Is Short (NOK) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (TSO) Call Spread; Najarian Owns (XLF) And (XLF) Collar; Terranova Owns (AAPL),(RIMM), (GS), (VLO), (SA), (YHOO), (NOV), (POT), (EOG), (FCX), (X); Terranova Owns (AIG) Puts And Owns (AIG)
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (BRE), (CNTY), (CNW), (CLB), (OFC), (DLM), (DRH), (DLR), (EPR), (ESS), (EXR), (AGM), (FL), (GBL), (GNET), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (GWX), (SSYS), (SKT), (UA), (BIV), (VV), (BLV); Phoenix Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund - Money Market Fund; Phoenix Investment Partners Owns More Than 1% Of Seagate Technology Tax Refund Rights
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
GE Is The Parent Company Of CNBC