Peabody Energy (BTU) popped 4%. Goldman upgraded the company to ‘buy’ from ‘sell’ citing its exposure to Asia. - They're heavily exposed to Asia and that's where the demand is, muses Tim Seymour.
Costco (COST) popped 3%. Retailers that carry attractively priced merchandise climbed on the back of Family Dollar’s results. - If you want exposure to the space I prefer Wal-Mart, counsels Karen Finerman.
DROPS (stocks that slid lower)
Advanced Micro Devices (AMD) dropped 2%. Investors took profits and who can blame them considering the stock is up 50% this year.
Aetna (AET) dropped 3%. This and other HMO stocks gave back yesterday’s gains after word came from President Obama that he still feels a government alternative to private insurance is key to healthcare reform.
Evergreen Solar (ESLR) dropped 4%. Many solar stocks took a hit as investors interpreted lower crude to mean more affordable gasoline.
General Electric (GE) dropped 3%. A published report called into question the company’s debt rating.
Lennar (LEN) dropped 4%. Despite an increase in mortgage applications last week this and other homebuilder stocks closed lower.
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Trader disclosure: On July 8th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (AAPL), (BAC), (BX), (EEM), (FXI), (F), (INFY), (SBUX); Seymour's Firm Owns (FCX); Terranova Owns (MSFT), (XBI), (ABT), (OIH), (RIMM), (SUN) ; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman Owns (RIG), (TBT); Finerman's Firm Owns (FCN), (MSFT), (NOK), (PBR), (RIG), (TBT), (WMT), (FLS); Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (BAC), (IYR), (IJR), (MDY), (SPY), (USO)