AT& T (T) popped 12%. Wal-Mart and Circuit City both agreed to sell the company's new TV and high-speed Internet service. – Communications could lead us out of this mess, muses Zach Karabell.
Peabody Energy (BTU) popped 11%. The largest US coal producer increased its 2008 earnings forecast. – I thought their numbers were impressive, says Pete Najarian.
Chesapeake Energy (CHK) popped 24%. The nation’s largest producer of natural gas climbed on the belief that the approaching winter could put a floor underneath gas prices. – It’s a stock worth watching, says Joe Terranova.
Advanced Micro Devices (AMD) popped 10%. Strong sales of graphics and microprocessor chips led the company to report a smaller than expected loss. – Interesting, says Pete Najarian.
Wells Fargo (WFC) popped 13%. Another one of the nine banks selected by the government as best of breed and Warren Buffett holds its shares. – Good for them, says Karen Finerman.
National-Oilwell Varco (NOV) popped 9%. Investors bid this stock higher on the belief that oil exploration will attract new investments. – I like it with a stop at $26, says Joe Terranova. I think it could go to $40.
United Health Group (UNH) popped 41%. Goldman Sachs upgraded the company to Buy from Neutral. – Giddyup, exclaims Pete Najarian.
DROPS (stocks that slid lower)
General Electric (GE) dropped 8%. The conglomerate hit its lowest price in a decade this week for no clear reason. – You just never know what’s going to happen in this market, says Joe Terranova.
eBay (EBAY) dropped 8%. The auction site warned that a slowdown in consumer spending could have a negative impact on the company well into 2009. – The Street really didn’t like what they had to say, explains Karen Finerman.
Pepsico (PEP) dropped 6%. The soft drink maker disappointed the Street and said it needed to cut jobs. – I just think it’s a troubled quarter, nothing more, says Zach Karabell.
ING (ING) dropped 31%. The Dutch banker dropped on speculation that it would have to raise more capital along. – Should we be stunned and flabbergasted? It's a bank, says Zach Karabell.
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Trader disclosure: On Oct. 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; Karabell Owns (AAPL), (CSCO), (GOOG), (JPM), (MS), (SLB); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOV), (UNH), (DVN), (WLP); Finerman's Firm Owns (DNA_ Call Spreads: Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (USO), (BBT), (COF); Najarian Owns (AAPL) And (AAPL) Call Spread; Najarian Owns (AMD) Puts; Najarian Owns (CHK) And Is Short (CHK) Calls; Najarian Owns (HAL) And Is Short (HAL) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (YHOO) Calls; Najarian Owns (MGM) And Is Short (MGM) Calls ; Najarian Owns (UNG); Terranova Owns (AAPL), (EXM), (FCX), (FTO), (MA), (NOV), (POT), (X), (VLO)
GE Is The Parent Company Of CNBC
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
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 Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights; 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.