Freeport-McMoRan (FCX) popped 7%. Sharp increases in the price of gold and copper sent this miner higher. - The stock broke through resistance, says Pete Najarian. It could go higher.
AK Steel (AKS) popped 2%. This and other steel names made gains after China said it may increase imports of the metal by as much as 10%. - This is exciting, says Tim Seymour.
Aetna (AET) popped 4%. Investors interpreted comments made by President Obama during his health care speech to mean no major changes are coming for the HMOs. - I would only buy on a close above $30, counsels Greg Troccoli.
Brazil ETF (EWZ) popped 4%. The country’s GDP grew more than expected in the second quarter, bringing an end to the recession.
DROPS (stocks that slid lower)
AIG (AIG) dropped 25%. Wells Fargo Securities downgraded the company to its lowest rating and said the insurer has "virtually no tangible book value at the moment" and the huge rally in August, is a mystery. - This stock just doesn't make sense to me either, says Joe Terranova.
Monsanto (MON) dropped 6%. The world’s largest seed producer lowered its guidance and said earnings would likelye below expectations. - No good, says Pete Najarian,
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Trader disclosure: On Sept. 11th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Is Long Apple (AAPL): Najarian Is Long Bank of America Stock, Short Calls: Najarian Is Long Citigroup Calls: Najarian Is Long Discovery Financials Calls: Najarian Is Long (ENER):Najarian Is Long (FCX), Short Calls:Najarian Is Long (JPM) Stock, And Puts; Najarian Is Long (JOYG) Stock, Short Calls; Najarian Is Long (MS) Stock, Short Calls; Najarian Is Long (MSFT) Stock, Short Calls; Najarian Is Long (PALM) Calls; Najarian Is Long (RIMM) Calls; Najarian Is Long (TEVA) Stock; Najarian Is Long (V) Stock, Short Puts & Calls; Najarian Is Long (WFC) Long Puts, Short Stock; Najarian Is Long (YHOO) Calls; Terranova Is Short (CCL); Terranova Is Long Gold Futures; Seymour Owns (AA); Seymour Owns (AAPL); Seymour Owns (BAC); Seymour Owns (BX); Seymour Owns (F); Seymour Owns (RIMM); Seymour Owns (SBUX)
For Scott Nations:
Nations is long call verticle spread on (LVS)
For Mark Schoenebaum
Deutsche Bank Owns (AMGN)
(AMGN) Is An Investment Banking Client of Deutsche Bank
Deutsche Bank Owns (BIIB)
(DBSI) Is An Investment Banking Client of Deutsche Bank
(GENZ) Is An Investment Banking Client of Deutsche Bank
Deutsche Bank Has Received Compensation from (GENZ)
Deutsche Bank Owns (GILD)
Deutsche Bank Owns (ACOR)
(ACOR) Is An Investment Banking Client of Deutsche Bank
For Brad Hintz
(MS) Has been a Client of Bernstein in the Past 12 Months
Hintz Owns (MS)
Mr. Hintz received a one time payment of 8,974 from (MS) in 2009
An affiliate of Bernstein received compensation for non-investment banking-securities related services from the following companies MS