Here are some market movers you might have missed Wednesday—find out why shares of Trina Solar popped while American Greetings' stock dropped.
POPS (stocks that pushed higher)
Trina Solar (TSL) popped by 5%: Wells Fargo raised its estimate and valuation range on the solar power products manufacturer. Guy Adami, managing partner of Drakon Capital, thinks valuations are fair and recommends buying this name.
Jabil Circuit (JBL) popped by 4%: The electronics manufacturer caught an upgrade to 'strong buy' from 'buy' at Needham Wednesday. Stuart Frankel's Steve Grasso said this stock has made an "incredible" move higher and has "emerged as a leader in this space." Grasso likes the name at current levels, but would start to get neutral if the share price below $14. He would get out if it falls below $13.50.
DROPS (stocks that moved lower)
American Greetings (AM) dropped 9%: The second largest greeting card maker in the US posted a disappointing second quarter profit, which missed the average analyst estimate. Kanundrum Capital founder Brian Kelly doesn't think many people send greeting cards anymore and would avoid the stock.
Green Mountain Coffee (GMCR) dropped 16%: The coffee name revealed that the Security and Exchange Commission is conducting an inquiry and requested documents that could be related to the company's "revenue recognition practices."
"You do not buy this falling knife," said Joe Terranova, chief market strategist of Virtus Investment Partners. "Avoid the stock."
Urban Outfitters (URBN) dropped 7%: The clothing retailer reported lower-than-expected profit for the quarter. Patty Edwards, founder of Trutina Financial, doesn't understand why this retail name had a rough day. She recommends picking up URBN on this pullback.
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Trader disclosure: On Sept. 29, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (IBM), (HES), (JOYG), (XBI), (FTO), (OXY), (ORCL), (PEP), (POT), (RSH), (SU), (RIG), (UPL), (VRTS); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST)
For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DLUEY)
Virtus Investment Partners own more than 1% of (DRYS)
For Patty Edwards
Edwards owns (BAC) for clients
Edwards owns (JPM) for clients
Edwards owns (HPQ) for clients
Edwards owns (WMT) for clients
Edwards owns (FXI) for clients
Edwards owns (AMZN) for clients
Edwards owns (SYT) for clients
Edwards owns (VXX) for clients
Edwards owns (SPY) for clients
Edwards owns (QQQQ) for clients
For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (C)
Accounts managed by Kanundrum Capital owns U.S. Dollars
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (ATI)
Accounts managed by Kanundrum Capital own (TIE)
Accounts managed by Kanundrum Capital own (RAX)
Accounts managed by Kanundrum Capital own Swiss Franc
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short (IAI)
Accounts managed by Kanundrum Capital are short (STT)
Accounts managed by Kanundrum Capital are short (FDX)
Accounts managed by Kanundrum Capital are short the Mexican Peso
Accounts managed by Kanundrum Capital are short the U.K. Pound
For Steve Grasso:
Stuart Frankel & Co and it’s partners own (AMGN)
Stuart Frankel & Co and it’s partners own (BAX)
Stuart Frankel & Co and it’s partners own (COG)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (MERC)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners are short (QQQQ)
For Kevin Pleines
Birinyi owns (AMZN)
For Doug Kass
***No Disclosures***
For Joe LaVorgna
***No Disclosures***
For Mike Khouw
***No Disclosures***
