Pops & Drops: Mosaic, Coach...

Following are the day’s biggest winners and losers. Find out why shares of Mosaic and Coach popped while Nokia and American Express dropped.

POPS (stocks that jumped higher)

Mosaic (MOS) popped 2%. The second largest potash producer in the U.S. jumped on takeover speculation with heavy options action in the name. - It's one to keep an eye on, says Pete Najarian.

Coach (COH) popped 2%. BofA/Merrill upgraded the maker of luxury goods to ‘buy’ from ‘neutral’ due to improved gross margins and cash position. - Valuations look fair to me, reveals Guy Adami, but I'm not a buyer.

Textron (TXT) popped 1%. Morgan Stanley upgraded the company to ‘overweight’ from ‘underweight’. - Not bad, says Pete Najarian.

DROPS (stocks that slid lower)

SPDR S&P Homebuilders ETF (XHB) dropped 3%. The ETF shrugged off positive pending home sales data and sold off with the markets. - I think it has farther to fall, speculates Guy Adami.

Allied Irish Banks (AIB) dropped 12%. The Irish bank slid following news yesterday the government may cut payments to lenders. - Not good, says Tim Seymour.

E Trade (ETFC) dropped 15%. Worries about the health of financials sent this online brokerage tumbling along with most stocks in the sector. - I don't like this stock, says Joe Terranova.

Nokia (NOK) dropped 5%. Credit Suisse downgraded the company to ‘underperform’ from ‘outperform’ due to increasing risks in the space. - I wouldn't throw the stock out the window, says Tim Seymour.

American Express (AXP) dropped 5%. A JD Powers survey found consumer satisfaction with credit cards plunged in 2009. - If it gets to $30 I'd be a buyer, says Joe Terranova.

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Trader disclosure: On Sept. 1, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (APPL), (BAC), (F), (SBUX); Seymour's Firm Is Short (FXI), (PBR), (RIMM); Terranova Owns (AMZN), (SU), (WFT); Terranova Is Short (SHLD), (TM); Terranova Owns (GS) Puts; Terranova Owns Dec. Gold Futures; Terranova Works For (VRTS); Najarian Owns (BAC) & Short (BAC) Calls; Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian owns (C) Calls; Najarian Owns (HGSI) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (JPM) & Is Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (PALM) Calls; Najarian Owns (TEVA) Calls; Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFc) Put Spread; Najarian Owns (YHOO) Call Spread ; Najarian Owns (MOS) Calls