AutoNation (AN) popped 5%. The auto dealership group said on Thursday that profit rose 30 percent in the fourth quarter on cost-cutting and a gain from a tax adjustment. - I wouldn't get involved, counsels Guy Adami.
Western Digital (WDC) popped 10%. The disk drive maker posted quarterly results that beat scaled-back expectations after it slashed costs to offset dwindling demand. - Guy Adami doesn't know what to say.
DROPS (stocks that slid lower)
Eastman Kodak (EK) dropped 30%. The firm posted a sharp quarterly loss and said it would cut up to 4,500 jobs this year after suffering a dramatic decline in demand for digital cameras and commercial printing equipment. - The big surprise is that this company still exsits, says a sarcastic Jeff Macke.
SPDR S&P Homebuilders ETF (XHB) dropped 7%. A Commerce Department report said that sales of new homes in the U.S. fell to their lowest level on record. - Not terribly hard to believe, muses Zach Karabell.
Oshkosh (OSK) dropped 31%. The firm said on Thursday it was cutting its workforce 7 percent and withdrawing its 2009 earnings forecast as it scrambles to deal with a downturn in business. - That's bad, says Pete Najarian.
Ford (F) dropped 4%. The automaker posted a deeper-than-expected $5.9 billion quarterly loss and said it was cutting 2,500 white-collar jobs. - Not so good, says Jeff Macke.
AstraZeneca (AZN) dropped 7%. The UK’s second-largest drugmaker reported fourth quarter profit fell below estimates and said it will have little sales growth this year. - Generics could also be a concern, reminds Zach Karabell.
US Airways (LCC) dropped 11%. Fuel hedging burned this carrier along with other airlines. The attempt to mitigate the high price of fuel ultimately became a liability. - No good, says Zach Karabell.
Fortune Brands (FO) dropped 11%. The firm posted much lower-than-expected profit, as consumers scaled back home remodeling projects, and forecast 2009 results well below Wall Street estimates. - In this economy you'd think people would be drinking more, muses Dylan Ratigan.
Zimmer Holdings (ZMH) dropped 12%. The orthopedic device maker posted a lower quarterly profit, still above Wall Street's forecast, but a weaker-than-expected outlook for 2009. - People are putting off surgery, explains Zach Karabell.
Black & Decker (BDK) dropped 21%. The tool maker warned of a double-digit fall in sales for the first three quarters of 2009 on weakening demand, and said it would cut 1,200 jobs. - Not so good, says Pete Najarian.
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Trader disclosure: On Jan. 29th, 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 (SDS), (MSFT), (TM); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Karabell Owns (AAPL), (CL), (DRYS), (FCX), (GOOG), (JPM), (NVDA), (NOK), (CINA); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (SQNM) & (SQNM) Short Calls; Najarian Owns (PALM) Calls