Following are the day’s biggest winners and losers. Find out why shares of Microsoft and Yamana Gold popped while Pepsico and Barnes & Noble dropped.
POPS (stocks that jumped higher)
Microsoft (MSFT) popped 2%. Widely followed tech writer Walter Mossberg of the WSJ gave the Windows 7 a positive review calling it the best version of Windows yet. - The stock has to break above $26.25 to move higher, explains Guy Adami.
Yamana Gold (AUY) popped 7%. The Canada based gold producer closed higher after receiving several upgrades and increased price targets. - I also think it goes higher, muses Steve Grasso.
Oil Services ETF (OIH) popped 3%. This ETF that tracks the oil exploration names including Schlumberger and Transocean moved higher in tandem with the spot price of crude. - I think there's more room to run, says Karen Finerman.
Sequenom (SQNM) popped 2%. Market speculation suggested the company is interested in putting itself up for sale. - I noticed unusual call buying, reveals Pete Najarian.
Anheuser-Busch Inbev (BUD) popped 3%. The brewer is nearing its target of $7 billion in divestments, after its deal with Blackstone to sell its theme parks. - I don't know what to do with this stock, admits Guy Adami.
SAP (SAP) popped 4%. UBS lifted its price target on this name, citing its strong position in the European software industry.
DROPS (stocks that slid lower)
Pepsico (PEP) dropped 1%. The company reported falling North American soft drink sales, and cautioned it did not expect a major revival of consumer spending next year. - I'd stay away, counsels Steve Grasso.
Barnes & Noble (BKS) dropped 12%. The bookseller forecast lackluster same-store sales for fiscal 2010, raising concerns that its recent purchase of College Booksellers would not immediately boost results. - I'm afraid of book retailers, explains Karen Finerman. Times are changing in this industry.
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Trader disclosure: On October 8, 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 (UNH) Calls; Finerman's Firm Owns (MSFT), (TGT); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm And Finerman Own (WMT); Finerman's Firm Is Short (USO), (IJR), (MDY), (SPY), (IWM), (UNG); Finerman's Firm Owns (BAC), (BAC) Call Spread, (BAC) Preferred; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (AET) Calls; Finerman's Firm Owns (WLP) Calls; Finerman's Firm Owns (RIG), Is Short (RIG) Calls; Finerman Owns (RIG); Pete Najarian Owns (BRCD) Calls; Pete Najarian Owns (C) Calls; Pete Najarian Owns (INTC), Is Short (INTC) Calls; Pete Najarian Owns (MYL) Calls; Pete Najarian Owns (STX) Calls; Pete Najarian Owns (WFC) Puts; Pete Najarian Owns (YHOO) Call Spread; Grasso Owns (AAPL), (ABK), (ASTM), (BAC), (C), (COST), (PRST), (V), (WMT), (FAZ)
For Steve Grasso
Stuart Frankel Corp. & Partners Own (CMCSK)
Stuart Frankel Corp. & Partners Own (CUBA)
Stuart Frankel Corp. & Partners Own (GERN)
Stuart Frankel Corp. & Partners Own (HSPO)
Stuart Frankel Corp. & Partners Own (LMT)
Stuart Frankel Corp. & Partners Own (MSFT)
Stuart Frankel Corp. & Partners Own (NWS.A)
Stuart Frankel Corp. & Partners Own (NXST)
Stuart Frankel Corp. & Partners Own (NYX)
Stuart Frankel Corp. & Partners Own (PDE)
Stuart Frankel Corp. & Partners Own (PRST)
Stuart Frankel Corp. & Partners Own (RDC)
Stuart Frankel Corp. & Partners Own (ROK)
Stuart Frankel Corp. & Partners Own (TBT)
Stuart Frankel Corp. & Partners Own (TLM)
Stuart Frankel Corp. & Partners Own (XOM)
Stuart Frankel Corp. & Partners Own (XRX)
Stuart Frankel Corp. & Partners Own (SDS)
Stuart Frankel Corp. & Partners Are Short (QQQQ)
Stuart Frankel Corp. & Partners Are Short (CL)
