Panera Bread Company (PNRA) popped 3%. The bakery-café franchise reaffirmed its third quarter earnings forecast.
Coca-Cola (KO) popped 1%. The beverage maker was one of the few Dow components to close higher with investors betting on Coke’s international expansion plans.
DROPS (stocks that slid lower)
Tesoro (TSO) dropped 16%. Tesoro along with most of the refiners dropped after Ike passed through the Gulf without doing too much damage. – I would move to the sidelines, says Joe Terranova.
US Steel (X) dropped 11%. The steel giant along with the sector fell on uncertainty in the housing and credit markets. – This stock is trading where it started the year, says Guy Adami.
Research In Motion (RIMM) dropped 7%. The maker of the Blackberry slipped on concerns that banks and brokerages make up the company’s most important customers. – A lot of BlackBerry users lost their jobs today, says Pete Najarian.
Take-Two (TTWO) dropped 24%. The U.S. video game publisher plunged after rival Electronic Arts decided to abandon its takeover bid. – It was a bad day to come out with this news, says Jeff Macke.
Lowe’s (LOW) dropped 4%. A Credit Suisse analyst lowered his rating and said he does not expect the housing market turn in the next year.
Vornado (VNO) dropped 15%. With a large presence in New York City this REIT (and others) took a hit on fears that Lehman works will no longer shop or eat at nearby stores.
General Motors (GM) dropped 12%. Despite crude oil hitting a 7 month low, the auto maker dropped on the widely held belief that tighter credit markets lie ahead.
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Trader disclosure: On Sept 15, 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), (TTWO), (MSFT); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (INTC),( NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (AMGN) Call Spread; Najarian Owns (MS) And (MS) Collar; Najarian Owns Owns (NOK) And Is Short (NOK) Call; Najarian Owns (RIMM) Call Spread; Najarian Owns (TSO) Call Spread; Najarian Owns (WB) Puts; Najarian Owns (XLF) And (XLF) Collar; Terranova Owns (NOV), (X), (POT), (FCX), (EOG), (AAPL), (GS), (KOL), (VLO), (SA); 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