United Airlines (UAUA) dropped 5%. This carrier as well as most airline stocks fell on Monday as investors remembered January can be a slow travel month. - This is a great time to take profits, says Pete Najarian.
Hartford (HIG) dropped 18%. The drop could be due to a decision from the National Association of Insurance Commissioners, which rejected a plea to loosen reserve standards for the cash-strapped companies. - Not so good, bristles Jeff Macke.
US Steel (X) dropped 13%. The largest US-based steelmaker announced plans Friday to slash output at 3 factories and lay off workers due to the slowdown in demand for the metal. - The stock is now off 50%, explains Guy Adami. I wouldn't say but it tomorrow -- but maybe Wednesday.
Equity Residential (EQR) dropped 6%. The largest US real estate investment trust and owner of apartments reported a fourth quarter charge of around $115 million. - The stock was way overdone to the upside, says Karen Finerman.
Burlington Northern (BNI) dropped 6%. Morgan Stanley downgraded the railroad to underweight from equal-weight, due to an anticipated slowdown in traffic. - Not so good, says Pete Najarian.
MGM Mirage (MGM) dropped 8%. The casino will take a charge of $1.2 billion in the fourth quarter related to its acquisition of Mandalay Resort Group. - Come on, scoffs Jeff Macke.
Satyam (SAY) dropped 84%. Once again, India’s fourth-largest software exporter was dragged down by allegations of accounting fraud.
Amazon.Com (AMZN) dropped 6%. Broadpoint AmTech downgraded the stock to “sell,” and suggested the company could suffer a further slump in 2009.
First Solar (FSLR) dropped 8%. Investors took profits in this stock after analysts named the company as a front-runner in the solar sector.
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Trader disclosure: On Jan. 12th, 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 (TM), (WMT), (MGM), (MCD), (SDS); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (MS); Najarian Owns (EEM) Long Call Spread; Najarian Owns (ERTS) Long Call Spread; Najarian Owns (DNA) Calls; Najarian Owns (XME) Calls; Najarian Owns (NVLS) Calls; Najarian Own (NVDA) Calls; Najarian Owns (MS) Short Calls; Najarian Owns (VZ) Put Spread; Finerman's Firm Owns (MSFT), (DNA); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (ANF), (DSX), (BBT), (COF), (EGR)