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Pops & Drops: Nike, Biogen...

Following are the day’s biggest winners and losers. Find out why shares of Nike and Huntington Bancshares popped while Biogen and Saks dropped.

POPS (stocks that jumped higher)

Nike (NKE) popped 8%. The world’s largest athletic footwear company beat on earnings and stressed it was gaining market share and stood to benefit when the global economy improved. - I think the move is over and I would steer clear, counsels Steve Grasso.

Huntington Bancshares (HBAN) popped 7%. A Deutsche Bank analyst upgraded the regional bank to "Buy" from "Hold" citing positive long-term prospects. - I can't get too excited, reveals Joe Terranova.

Jefferies (JEF) popped 1%. JMP Securities raised its third quarter EPS estimates on the firm, to 32 cents from 26 cents, citing recovery in credit markets and pick up in M&A activity. - This stock could go to $29, speculates Guy Adami.

DROPS (stocks that slid lower)

Biogen Idec (BIIB) dropped 2%. This biotech closed lower after rival Novartis announced positive results for its MS drug. - Sorry to see you lose money Carl, chuckles Karen Finerman.

Saks (SKS) dropped 5%. The luxury department store announced plans for a $100 million stock sale to reduce debt. - It doesn't look good to me, says Guy Adami.

WellPoint (WLP) dropped 4%. A BMO Capital Markets analyst cut his rating on health insurers on Wednesday, saying most of the stocks will stay close to their current prices due to high unemployment, which will reduce profit growth. - The only stock I like in the space is UNH, says Steve Grasso.

New York Times (NYT) dropped 3%. Investors sold this media company after a pop yesterday due to rival Gannett’s strong forecast. - Who can say, muses Karen Finerman.

Disney (DIS) dropped 2%. Imax denied it was in acquisition talks with Disney after it was the subject of an apparent false press release issued online. - I think you can be long, counsels Joe Terranova.




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Trader disclosure: On Sept. 30th, 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); Finerman's Firm Owns (BAC) Preferred Shares, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred Shares And (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Owns (BKC), (DRI), (MSFT), (YUM); Finerman's Firm Is Short (CAKE), (TLT), (USO), (IJR), (IWM), (SPY), (MDY), (USO), (UNG); Grasso Owns (AAPL), (ABK), (ASTM), (BAC), (C), (COST), (CSCO), (PFE), (PRST), (V), (WMT), (FAZ); Terranova Owns (FCX), (ANR), (SU), (BUCY), (GEX), (POT), (CAM), (MSFT), (AMZN), (GDX), (KCE), (ABT), (SUN); Terranova Owns (XOM) Calls; Terranova Owns (FTO) Calls; Terranova Is Short (GRMN), (ESS), (CCL), (FII), (JWN), (JCI), (WYNN); Terranova Owns March Sugar Futures; Terranova Owns December Copper Futures; Terranova Owns December Crude Oil Futures; Terranova Owns December Gold Futures

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