Loews (L) popped 7%. Not to be confused with the home improvement store, this conglomerate reported higher operating income at its CNA commercial insurance business. - And they have exposure to off-shore drilling, explains Karen Finerman.
Alcoa (AA) popped 7%. Shares of this company shot higher as commodities surged on better than expected manufacturing data. - I own this stock, reveals Tim Seymour.
US Nat Gas Fund (UNG) popped 9%. This ETF moved in tandem with its underlying commodity, higher.
DROPS (stocks that slid lower)
Huron Consulting (HURN) dropped 69%. Shares of this firm plunged after it said plans to restate financials from 2006-2008 could result in a $57 million hit. - That's ridiculous, exclaims Karen Finerman.
Tyson Foods (TSN) dropped 3%. The company forecast weak demand in the current quarter, but topped analysts’ expectations for the third quarter due to lower costs. - I'd avoid it, says Joe Terranova. But if it pulls back to $10, I'm a buyer.
Monroe College. The business oriented New York school is getting sued by one of its graduates for her $70,000 tuition. Trina Thompson, a 27-year old IT student, claims the school has not done enough to help her land a job after her April graduation and now wants her money back
Clorox (CLX) dropped 3%. Investors took some off the table after the company said quarterly profit rose a stronger-than-expected 7.6%, boosted by price increases and lower costs.
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Trader disclosure: On Aug 3rd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (MSFT), (MCD), (AMZN); Terranova Works For (VRTS); Terranova Is Short (TM); Seymour Owns (AA), (AAPL), (BAC), (BHI), (F), (RIMM), (YHOO), (EEM); Seymour's Firm Is Short (PBR); Seymour Owns (POT); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (TBT), (WMT); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (USO), (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm Is Short (WFMI); Grasso Owns (BAC), (BA), (COST), (CSCO), (FAZ), (OXY), (V), (WMT), (XLF); Grasso's Company Owns (ABT), (GERN), (MSFT), (NWS.a), (NYX), (PDE), (RDC), (ROK), (XOM), ;Grasso's Company Owns (SDS); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU)