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.
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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)