×

Pops & Drops: Garmin, Electronic Arts...

Following are the day’s biggest winners and losers. Find out why shares of Garmin and Ralph Lauren popped while Electronic Arts and Onyx Pharma dropped.

POPS (stocks that jumped higher)

Garmin (GRMN) popped 24%. Quarterly profits blew past market expectations as sales picked up and expenses fell. - I would not chase this stock, counsels Guy Adami.

Polo Ralph Lauren (RL) popped 7%. The fashion firm reported its eighth straight quarter of better-than-expected profits, helped by cost cuts and retail sales that fell less than anticipated. - It was a good day, muses Karen Finerman.

AIG (AIG) popped 62%. Ahead of earnings on Monday, investors bid shares higher on a belief the firm had stabilized. - Obviously something is going on, muses Joe Terranova.

Jack In The Box (JACK) popped 6%. Quarterly profits beat Wall Street estimates as price increases and lower commodity costs helped offset a drop in sales. - And they're the cheapest P/E in the industry, adds Pete Najarian.

Eli Manning. The quarterback just signed a new 6-year $97 million contract extension with the New York Giants making him the highest paid player in the NFL. Manning has led the giants to the playoffs for the past 4 years and was named game MVP after beating out the undefeated Patriots in the Super Bowl in 2008.

Fortress Investment (FIG) popped 13%. One of the few publicly traded U.S. hedge fund groups, Fortress reported a narrower quarterly loss on surprisingly strong revenue Wednesday, and forecast improved demand for its portfolios in coming quarters.

Marsh & McLennan (MMC) popped 5%. The company reported strong earnings and "brokerage margins (that) expanded much faster than anticipated," says Citigroup analyst Keith Walsh.

DROPS (stocks that slid lower)

Electronic Arts (ERTS) dropped 7%. The videogame maker failed to quell concerns about the industry's health and the company's game slate.

Onyx Pharma (ONXX) dropped 15%. The biopharmaceutical company said it would raise capital through the sale of stock and notes, but did not offer details on its plans.




______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On Aug 5th, 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), (RIMM), (JPM), (MS), (ABT), (MCD), (AMZN); Terranova Works For (VRTS); Terranova Is Short (TM), (WFC), (WYNN), (F); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (PDE), (TBT), (WMT), (TGT); Finerman's Firm Is Short (USO), (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (WFC); Finermna's Firm Is Long (WFMI) Puts; Najarian Owns (AET); Najarian Owns (BAC) Call Spread; Najarian Owns (BX) Call Spread; Najarian Owns (BUCY) & (BUCY) Call Spread; Najarian Owns (FCX) & (FCX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & (JPM) Call Spread; Najarian Owns (MS) & Short (MS) Calls; Najarian Owns (MSFT) & Short (MSFT) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (V) & Short (V) Calls; Najarian OWns (YHOO) Call Spread ; Najarian Owns (SYNA) Calls; Najarian Owns (CSCO) Call Spread; Najarian Owns (SWNA) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU)