McDonald’s (MCD) popped 3%. A burger and fries looks like a safer bet in this volatile market. – It works, says Jeff Macke.
United States Natural Gas Fund (UNG) popped 4%. Investors are betting that long nat gas into winter is the right trade. Lately it’s been a widow maker.
British American Tobacco (BTI) popped 7%. Dresdner Kleinwort raised the company’s price target ahead of earnings.
DROPS (stocks that slid lower)
Apple (AAPL) dropped 4%. The iPhone maker slumped on Wednesday as more investors worry that that Apple’s target audience (young people) could have less disposable cash. – I wouldn’t be the first guy into this stock right now, says Pete Najarian.
Ford (F) dropped 13%. The auto maker said September sales plunged 35% and investors worry that tight credit could make it harder for drivers to obtain car loans. – I don’t think too many people are walking into their showrooms, muses Joe Terranova.
Boston Scientific Corp. (BSX) dropped 7%. Both Boston Scientific and Medtronic were are ordered to pay $629 million to Johnson and Johnson due to a heart-stent patent dispute. – Ouch, exclaims Pete Najarian.
IBM (IBM) dropped 6%. Big Blue posted its largest drop in 3 years on profit worries.
Alcoa (AA) dropped 6%. The aluminum producer said it will cut jobs and halt production at a Texas smelter, due to weak market conditions.
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Trader disclosure: On Oct.1, 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), (HAS); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (WB); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (BIIB) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (MS) And (MS) Puts; Najarian Owns (NCC) Calls; Najarian Owns (XLF) Call Spread; Terranova Owns (MA), (AAPL), (EOG), (FCX), (FTO), (GS), (KOL), (NOV), (POT), (X), (VLO), (YHOO); Terranova Owns (MS) And Is Short (MS) Call; Terranova Owns (AIG) And (AIG) Puts
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW), (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
GE Is The Parent Company Of CNBC