Pops & Drops: Toyota, Honeywell...

Following are the day’s biggest winners and losers. Find out why shares of Toyota and Honeywell popped while Boston Properties and JC Penney dropped.

POPS (stocks that jumped higher)

Toyota (TM) popped 3%. In light of current economic conditions, Japan’s biggest carmaker is suspending work on a new plant. – I would not play this stock, counsels Jeff Macke. I want to be short and yet it acts well; you can’t ignore that price action.

Honeywell (HON) popped 6%. The conglomerate confirmed it 2008 earnings view. - Materials costs are coming down, adds Pete Najarian.

Proshares Ultrashort Financials ETF (SKF) popped 7%. With investors cautious ahead of Goldman earnings, this ETF that tracks twice the inverse of financial shares moved higher. – I like it but these double trade ETFs are contributing to the volatility, adds Jeff Macke.

Diana Shipping (DSX) popped 14%. Rates for carrying commodities had their biggest daily gain on record.

SPDR Gold Trust ETF (GLD) popped 2%. Ahead of an expected rate cut, gold futures advanced on the dollar’s decline.

MGM Mirage (MGM) popped 7%. The firm agreed to sell Treasure Island hotel & casino to real-estate investor Phil Ruffin for $775 million.

Vail Resorts (MTN) popped 3%. Although not immune from the slowdown, reports suggest the ski resort is well insulated from it, due to its elite clientele.

DROPS (stocks that slid lower)

Boston Properties (BXP) dropped 6%. Chairman Mortimer Zuckerman said on CNBC that his charitable trust lost $30 million investing with Bernard Madoff. – I wouldn’t short on the Madoff scam but I would short if you think commercial real estate is going lower, says Karen Finerman.

iShares FTSE/Xinhua China 25 Index ETF (FXI) dropped 3%. China said its industrial production grew at its weakest pace in almost a decade. – I like China in ’09, says Tim Seymour.

JC Penney (JCP) dropped 4%. Heavy put volume spooked investors sending shares lower. – They’ve got to be suffering as much as all the other retailers, muses Pete Najarian.

SPDR S&P Homebuilders (XHB) dropped 4%. Fitch lowered its debt rating on many of the homebuilders, including DR Horton, Lennar and Pulte.

Huntsman (HUN) dropped 49%. The chemical maker dropped after terminating its $6.5 billion agreement to be acquired by Apollo Management.

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Trader disclosure: On Dec. 15th, 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), (SDS), (MCD); Najarian Owns (FCX), (RDC); Najarian Owns (BMY) Calls; Najarian Owns (NUE) And Is Short (NUE) Calls; Najarian Owns (UYG) And Is Short (UYG) Calls; Finerman's Firm Owns (AET), (DSX), (MSFT), (DVN), (APC); Finerman's Firm Is Short (VNO), (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (USO); Seygem Asset Management Owns (FXI); Seymour Owns (AAPL), (BAC), (F), (MER), (TSL), (CCJ); Seymour Owns Shares Of Uranium One, Inc.

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