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Pops & Drops: Fannie Mae, CME Group...

Following are the day’s biggest winners and losers. Find out why shares of Fannie Mae and CME Group popped while Gannett and CSX Corp dropped.

POPS (stocks that jumped higher)

Fannie Mae (FNM) popped 20%. The US Treasury agreed to remove the funding caps on Fannie as well as Freddie Mac. - I'd be long, says Steve Cortes.

CME Group (CME) popped 3%. Investors may be betting that as a clearing house for credit default swaps, the exchange stands to benefit in 2010. - I think the stock goes above $350, speculates Joe Terranova.

IBM (IBM) popped 1%. Big blue won a 10 year IT services contract with a leading co-operative bank in Gujarat. - At 11 times earnings I think the stock is cheap, says Pete Najarian.

Saks (SKS) popped 2%. New data showed luxury and jewelry were among the big winners this holiday season. - Upper end retail is working, explains Pete Najarian.

Ford (F) popped 1%. Reports suggested that the company will begin testing electric cars and vans in Germany in January,

AIG (AIG) popped 5%. After the US Treasury agreed to remove the funding caps on Fannie & Freddie, investors speculated they may do the same for this beleaguered insurer.

DROPS (stocks that slid lower)

Gannett (GCI) dropped 3%. Investors took profits after Wells Fargo upgraded the stock last week. - I'd stay away, says Steve Grasso.

CSX Corp (CSX) dropped 2%. Barron's said investors should be paying closer attention to rival Burlington Northern's pessimistic outlook for 2010.




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Trader disclosure: On Dec. 28th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders

For Steve Grasso:
Grasso owns (AAPL)
Grasso Owns (BAC)
Grasso Owns (C)
Grasso Owns (CSCO)
Grasso Owns (PFE)
Grasso Owns (WMT)
Grasso Owns (V)
Stuart Frankel is Short (QQQQ)

For Steve Cortes:
Cortes Owns (GD)
Cortes Is Short (TOL)
Cortes Is Short (PHM)
Cortes Owns (SPX)
Cortes Owns US Dollar
Cortes Is Short Gold

For Pete Najarian:
Najarian Owns (LLTC) calls
Najarian Owns (MS) & Short (MS) Calls
Najarian Owns (PFE)
Najarian Owns (STEC) Call Spread

For Joe Terranova:
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.

For Jeff Harte:
Sandler O'Neill Has Received Compensation from (C)
(C) Is A Client Of Sandler O'Neill

For Steve Levenson
Stifel, Nicolaus & Company, Inc. makes a market in the securities of (ALOG)
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek
compensation from (ALOG)
Stifel, Nicolaus & Company, Inc. makes a market in the securities of (ASEI)
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek
compensation from (ASEI)

For Tom Lydon
Lydon's Clients Own Shares of (TIP)
Lydon's Clients Owns Shares of (VWO)
Lydon's Clients Own Shares of (EEM)
Lydon's Clients Owns Shares of (GLD)

For Heath Terry
FBRCM acts as a market maker in (ATVI)
FBRCM acts as a market maker in (ERTS)
FBRCM acts as a market maker in (THQI)
FBRCM acts as a market maker in (TTWO)