Walgreen (WAG) popped 2%: The retail drugstore chain's tock rallied after announcing a $1 billion share repurchase program and declaring a quarterly dividend. Karen Finerman, president of Metropolitan Capital Advisors, would rather be in CVS Caremark, which she thinks is "much, much cheaper."
DROPS (stocks that moved lower)
Big Lots (BIG) dropped 2%: After JMP Securities downgraded the retailer to 'market perform' from 'outperform' Wednesday, shares of BIG fell. There is heavy short interest in this stock, said Joe Terranova, chief market strategist at Virtus Investment Partners. He noted that the stock is trading between $30 and $35 a share and until it breaks out of that range, he wouldn't touch it.
MGM Resorts (MGM) dropped 11%: The biggest casino operator said it plans to raise as much as $595 million by selling stock. Its largest investor, Kirk Kerkorian, plans to sell as many as 32 million shares. Pete Najarian, co-founder of optionMONSTER.com, thinks this is a strong stock, even on the pullback.
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Trader disclosure: On Oct.13, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman owns (GOOG); Finerman’s Firm owns (IBM); Finerman and Finerman’s Firm own (JPM); Finerman and Finerman’s Firm own (BAC); Finerman’s Firm own (MSFT); Finerman’s Firm owns (RIG); Finerman’s Firm owns (WMT); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts; Terranova Owns (APA), (AAPL), (IBM), (OXY), (RSH), (UPL), (XBI), (JOYG), (C), (AXP), (SWN), (AGU), (EOG), (HES), (OIH), (ORCL), (SU), (VRTS), (FTO), (RIG), (PEP), (POT), (CRM), (CF), (VMW); Terranova Owns (AAPL) puts; Pete Najarian owns (DD), (TSO), (YHOO), (AKAM), (BMC), (F), (LVS); Simon Baker Owns (SLW), (IGTE); Simon Baker's Firm Owns (SLW)
For Anthony Scaramucci
Scaramucci and SkyBridge Capital own (RL)
For Brian Kelly
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (ADM)
Accounts managed by Kanundrum Capital own (GS)
Accounts managed by Kanundrum Capital own (JEF)
Accounts managed by Kanundrum Capital own (MSFT)
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 (GPRE)
Accounts managed by Kanundrum Capital are short U.K. Pound
Accounts managed by Kanundrum Capital are short Mexican Peso
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 (DRYS)
For Kate McShane
An employee of Citigroup Global Markets Inc. is a director of (BBY)
Kate McShane owns (BBY)
Citigroup is a market maker in (COLM), (FINL), (SPLS), (BBBY), (ORLY)
Citigroup has a significant financial interest in relation (NKE), (VFC), (BBY), (ODP), (SPLS)
Citigroup received investment-banking compensation within the past 12 months from (LIZ), (VFC), (ODP), (AZO), (SPLS)
Citigroup received compensation for non-investment banking services from (FL), (LIZ), (NKE), (PVH), (RL), (VFC), (BBY), (ODP), (OMX), (WSM), (AZO) (COLM), (SPLS) (BBBY) in the past 12 months
Citigroup had within the past 12 months, (LIZ), (VFC), (ODP), (AZO), (SPLS) were investment banking clients
For Mike Khouw
Cantor Fitzgerald makes a market in (FCX)
For Steve Sakwa
***No Disclosures***