Dow Jones Us Real Estate ETF (IYR) popped 2%. Investors turned bullish due to positive economic data. - When the market is up and the risk trade is up, this seems to pop, muses Karen Finerman.
FedEx (FDX) popped 3%. Barron’s said the company was well positioned overseas in China and has good operating leverage. - I like other names in the space, says Gary Kaminsky.
Brazil Index ETF (EWZ) popped 2%. Strong commodity prices boosted this ETF as well as data which showed job growth in Brazil grew at a faster than expected rate. - Keep an eye on it, says Tim Seymour.
Intel (INTC) popped 2%. The company’s board approved a 13% dividend hike, saying it is confident in future business. - I'd play the space with the SMH and spread out the risk, counsels Joe Terranova.
Merck (MRK) popped 2%. The drug maker told CNBC that the company won’t pull cholesterol pills Vytorin and Zetia off the market despite a study that found they didn’t reopen clogged arteries as well as Abbott's Niaspan.
Sprint Nextel (S) popped 15%. Credit Suisse upgraded the firm to ‘outperform’ from ‘neutral’ saying the company is showing progress with its turnaround efforts. Sprint also said it has paid down $1bln on a $4.5bln revolving loan.
ArcelorMittal (MT) popped 4%. JPMorgan boosted the sector, adding this firm as well as US Steel to its focus list, due to upside earnings potential.
DROPS (stocks that slid lower)
MBIA (MBI) dropped 8%. The world’s largest bond insurer, fell the most in nine months after posting a bigger- than-expected third-quarter loss.
Harman International (HAR) dropped 2%. With gains of nearly 40% over the past 3 months investors took some profits and rotated into other areas of the market.
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Trader disclosure: On November 16th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (GE), (INTC); Finerman Owns (RIG), (FLS); Finerman's Firm Owns (CSCO), (RIG), (MSFT), (NOK), (PLCE), (TGT); Finerman's Firm Is Short (USO); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (WMT); Finerman's Firm Is Short (IJR), (MDY), (IWM), (UNG); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (FLS), Is Short (FLS) Calls; Terranova Owns (GS), (JPM), (SU), (AAPL), (GOOG); Terranova Works For (VRTS); Terranova Owns Dec. Crude Oil . Futures; Terranova Owns Dec. Gold Futures; Terranova Owns Dec. Nat Gas Futures
For Brian Kelly
Kanundrum Capital Owns (ELX)
Kelly Owns (ELX) Calls