Sears (SHLD) popped 29%. The largest US department store soared this week after it announced a $500 million stock buyback. – It seems strange when they could buy back debt, says Zach Karabell.
Lennar (LEN) popped 27%. This homebuilder along with the entire sector rallied after CNBC confirmed that the Treasury was exploring initiatives to lower mortgage rates. – If you want to play the space look at Home Depot, counsels Guy Adami.
Constellation Energy Group (CEG) popped 13%. Electricite de France offered to buy half the company’s nuclear business for $4.5 billion. – That’s a nice pop, says Pete Najarian.
Saks (SKS) popped 23%. The high-end department store reported same-store sales that were better than expected. –Tim Seymour doesn’t know what to say.
Prudential Financial (PRU) popped 31%. The second-largest US life insurer popped after rival Hartford Financial lifted its full-year forecast. – Some financials are in better shape than we think, says Zach Karabell.
DROPS (stocks that slid lower)
Boeing (BA) dropped 7%. The WSJ reported the aviation giant may, once again, delay the first deliveries of the 787 by at least 6 months. – We landed on the moon in 1969, exclaims Guy Adami. What’s the problem?!
Freeport-McMoRan (FCX) dropped 30%. The metal miner dropped as copper prices plummeted this week. The firm also suspended its dividend and scaled back production. – I like this stock, says Tim Seymour.
Alcoa (AA) dropped 24%. Deutsche Bank said mining stocks and metal companies will start to slash dividends.
Oil Service Holdrs ETF (OIH) dropped 23%. Merrill Lynch predicted oil could drop to $25 a barrel.
Total SA (TOT) dropped 10%. Europe’s third-largest oil company dropped this week after ditching plans to acquire Nexen.
Big Lots (BIG) dropped 9%. The firm lowered its earnings forecast for the current fiscal year after last quarter’s sales fell.
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Trader disclosure: On Dec. 3rd, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (AMR) And Is Short (AMR) Calls; Pete Najarian Owns (FCX) And Is Short (FCX) Calls; Pete Najarian Owns (HIG) Calls; Pete Najarian Owns (UYG); Pete Najarian Owns (SBUX) Calls; Karabell Owns (AAPL), (FCX), (GLD), (GOOG), (JPM), (UYG), (DRYS); Seymour Owns (AAPL), (BAC), (F), (MER); Seygem Asset Management Owns (FCX)
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