Pops & Drops: SanDisk, Newmont Mining...

Following are the day’s biggest winners and losers. Find out why shares of SanDisk and Newmont Mining popped while Exxon Mobil and Nortel Networks dropped.

POPS (stocks that jumped higher)

Ultrashort Financials ETF (SKF) popped 16%. The ETF climbed on the market's financial turmoil, as the fund is designed to go up when the financial sector drops. – What else would you expect on a day like this, says Karen Finerman.

Sandisk (SNDK) popped 39%. The world’s largest maker of memory cards rejected Samsung’s bid for the company at $26/share. – They want $35, reveals Pete Najarian.

Newmont Mining (NEM) popped 9%. Gold and silver prices experienced huge gains and this miner moved higher with them.

DROPS (stocks that slid lower)

Exxon Mobil (XOM) dropped 2%. The world's biggest oil company slipped despite oil's surge. – I think it’s a screaming buy at current levels, says Guy Adami.

Nortel Networks (NT) dropped 50%. North America’s biggest maker of phone equipment said sales will likely decline as corporate clients delay investments. – There’s nothing to see here, says Jeff Macke. Move along.

Vornado (VNO) dropped 8%. Vacancies in Manhattan will likely increase. Merrill and Lehman occupy 8.3 million square feet in New York. – Not surprising, says Karen Finerman.

KBW Bank Index (.BKX) dropped 8%. The regional banking index fell as the financials continued to spook investors.

Constellation Energy (CEG) dropped 19%. The energy company slid lower amid ongoing liquidity concerns.

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Trader disclosure: On Sept 17, 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); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (MS) And (MS) Collar; Najarian Owns (TSO) Call Spread; Najarian Owns (WB) Put Spread; Najarian Owns (XLF) And (XLF) Collar; Finerman Owns Owns (GS), (JNJ), (MSFT), (SUN), (TSO); Finerman's Firm Is Short (XLF), (IYR), (IJR), (MDY), (IWM), (SPY), (BBT), (COF)

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