Following are the day’s biggest winners and losers. Find out why shares of Newmont Mining and NetApp popped while HMOs and Bank Of America dropped.
POPS (stocks that jumped higher)
Newmont Mining (NEM) popped 3%. The miner continued higher as gold set new record highs. – I think gold goes higher and takes Newmont with it, says Joe Terranova.
NetApp (NTAP) popped 2%. The data storage name traded higher ahead of earnings Friday as the sector trades in the green. – I like this stock, says Guy Adami.
ITT Corp (ITT) popped 3%. FBR upgraded the company to ‘overweight’ from ‘market weight’ jumping on speculation it will be a takeover target.
Pier 1 Imports (PIR) popped 10%. Same-store sales for September increased almost 10% and the company gave a bullish outlook.
Yahoo (YHOO) popped 1%. Ahead of earnings Tuesday - the internet company received an upgrade to ‘buy’ from ‘hold’ at Benchmark Co.
DROPS (stocks that slid lower)
HMOs dropped. HMOs traded to the downside after Republican Senator Olympia Snowe voted in favor of the Senate's health care reform bill. – These stocks pop one day and a drop the next, says Pete Najarian. They could very well pop again.
Bank Of America (BAC) dropped 1%. Meredith Whitney reduced her estimates for Q3 and the full year. – I don’t think this move matters, says Karen Finerman. What matters is what they say when they report earnings.
Johnson Controls (JCI) dropped 2%. The maker of auto heating and cooling services closed lower after forecasting earnings for the year that fell below estimates.
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Trader disclosure: On Oct. 13th, 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), (BTU), (MSFT), (NUE); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (UNG); Finerman's Firm Is Short (USO); Finerman's Firm Is Long Puts & Calls (MDY); Finerman's Firm Owns (BAC), (BAC) Calls, (BAC) Call Spreads, (BAC) Preferred; Finerman Owns (RIG), (PDE); Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (MSFT), (TGT), (PDE), (BRCM), (WMT), (RIG); Finerman's Firm Owns (WLP) Calls; Finerman's Firm Owns (UNH) Calls; Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (WLP) Calls; Terranova Owns (JPM), (JOYG), (NOV), (GS); Terranova Is Short (GRMN), (CCL); Terranova Owns Dec. 2009 Gold Futures; Terranova Owns Dec. 2009 Crude Oil Futures; Terranova Owns Dec. 2010 Crude Oil Futures; Terranova Works For (VRTS); Najarian Owns (BRCD) Calls; Najarian Owns (C) Calls; Najarian Owns (DELL) Call Spread; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (GE) Calls; Najarian Owns (JPM) Calls; Najarian Is Short (JOYG) Calls; Najarian Owns (LAZ) & Short (LAZ) Calls; Najarian Owns (MYL) Puts; Najarian Owns (TEVA); Najarian Owns (YHOO) Call Spread
For Zack Karabell
Karabell Owns (FCX)
Karabell Owns (UTX)
Karabell Owns (HON)
Karabell Owns (SINA)
Karabell Owns (EDU)
For Brad Hintz
Hintz owns an Equity Position in (MS)
Bernstein Owns (GS)
(GS) Has Been A Client of Bernstein In Past 12 Months
Bernstein Owns (MS)
(MS) Has Been A Client of Bernstein In Past 12 Months