Motorola (MOT) popped 3%. A bullish article in Barron’s said shares could rise 40% if it spins off its cell phone division. - The key here is the sum of the parts and Motorola does look cheap when you look at the parts, says Tim Seymour.
Dell (DELL) popped 2%. Investors liked hearing that the company acquired a data storage systems developer.
DROPS (stocks that slid lower)
Apple (AAPL) dropped 1%. This technology bellwether started the day higher but ultimnatley failed. - Around $190 I think it's an opportunity, says Pete Najarian.
Jefferies (JEF) dropped 1%. Investors took profits after a Barron’s article said smaller shops such as this one could begin to take the lead as bigger banks falter under political pressures.
CIT (CIT) dropped 1%. Shares of the troubled commercial lender closed modestly lower on its first day with ex Merrill head John Thain as CEO.
Massey Energy (MEE) dropped 4%. The company was cited by regulators for potential safety concerns in West Virginia. - I'd keep my eye on this one, says Pete Najarian.
Russia ETF (RSX) dropped 3%. Ongoing concerns about Greece continued to weigh on emerging markets, broadly. - I'd stay short, says Tim Seymour.
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Trader disclosure: On February 8th, 2010, 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), (BTU), (GS), (INTC), (NUE), (MSFT); Kaminsky Is Short (LULU); Najarian Owns (AAPL) Call Spread; Najarian Owns (GILD) Call Spread; Najarian Owns (INTC) Calls; Najarian Owns (MS), Is Short (MS) Calls; Najarian Owns (TCK), Is Short (TCK) Calls; Najarian Owns (XLF) Calls; Najarian Owns (CLF) Call Spread
For Dennis Gartman
Funds Managed By Dennis Gartman Are Long Australian Dollars, Canadian Dollars
Funds Managed By Dennis Gartman Are Short British Pound Sterling, Euro,
Funds Managed By Dennis Gartman Own (BWLD), (DRI), (PNRA)
Funds Managed By Dennis Gartman Are Short (MT), (NUE), (PEP)
For Brian Kelly
Kanundrum Capital Owns (HOV)
Kanundrum Capital Owns (PHM)
Kanundrum Capital Owns (TOL)
Kanundrum Capital Owns (WY)
Kanundrum Capital Owns (PCL)
Kanundrum Capital Owns (RYN)
Kelly Owns (HOV) Calls
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short U.S. Dollar
Kelly Owns (FXE) Puts
For Tim Seymour
Seygem Asset Management Owned (MTL) On 2/3/10
Seymour Owns (AAPL)
Seymour Owns (BAC)
Seymour Owns (EEM)
Seymour Owns (ETFC)
Seymour Owns (F)
Seymour Owns (INTC)
Seygem Asset Management Is Short (VALE)
Seygem Asset Management Owns (GFI)
Seygem Asset Management Is Short (BIDU)
Seymour Owns (FXI)