InterOil (IOC) popped 9%. The Papua New Guinea energy name said one of its wells flowed at a world-record rate. - Hard for me to say buy this stock on valuations but momentum suggests it goes higher, says Guy Adami.
Limited Brands (LTD) popped 6%. Soleil upgraded the company to 'hold' from 'sell' citing valuations. - I'd stay away from this stock, says Steve Grasso.
Guess? (GES) popped 13%. The high end denim company posted a larger-than-expected quarterly profit on Monday and forecast a stronger than expected holiday season.
United Technologies (UTX) popped 1%. Bernsteinraised its target on the name to $73 from $63.
DROPS (stocks that slid lower)
Human Genome (HGSI) dropped 3%. The biopharma announced plans to sell an additional 12.5 million shares of common stock, which dilutes existing shares. - No good, says Karen Finerman.
DynCorp (DCP) dropped 6%. The provider of military services fell after President Obama announced plans to send more troops to Afghanistan, as most of its revenues come from Iraq operations. - It's highly levered to the Middle East, adds Joe Terranova
Apollo Group (APOL) dropped 2%. Published reports said education stocks dropped Tuesday on concerns about proposed regulatory changes by the U.S. Education Department, including the elimination of exemptions allowing for-profit education providers to compensate recruiters. - That's a problem, says Guy Adami.
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Trader disclosure: On Dec. 1st, 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); Terranova Owns (SU), (GOOG); Grasso Owns (AAPL), (BA), (BAC), (C), (WMT), (V); Finerrman Owns (GLNG); Finerman's Firm Owns (GLNG), (PLCE), (MSFT), (WMT), (PDE), (RIG), (TGT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Calls; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO), (UNG)
For Steve Grasso:
Stuart Frankel Owns (NWS)
Stuart Frankel Owns (PDE)
Stuart Frankel Owns (SDS)
Stuart Frankel Owns (YHOO)
Stuart Frankel is Short (QQQQ)