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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