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Pops & Drops: St. Joe, MannKind...

Following are moves you might have missed this week. Find out why shares of St. Joe and IBM popped while MannKind and F5 Networks dropped.

POPS (stocks that jumped higher)

St. Joe (JOE) popped 20% this week. News that hedgie Bruce Berkowitz sold a large position in General Growth triggered speculation he would put money to work in this stock. - I think there's headline risk and I wouldn't buy, says Steve Grasso.

IBM (IBM) popped 5%. Big Blue reported strong results with investors particularly cheered by the pick-up in services contracts, an indicator of future revenue from outsourcing and other technology projects. - Earlier in the week Guy Adami said he was bullish.

DROPS (stocks that slid lower)

MannKind (MNKD) dropped 29%. The company said regulators are still not willing to approve its Afrezza inhaled insulin therapy, and want MannKind to run additional clinical trials. - Stay away, counsels Brian Kelly.

F5 Networks (FFIV) dropped 20%. Priced for perfection, after the company issued sales numbers that missed Street estimates investors ran for the exits. - I like the stock but I wouldn't buy yet, says Joe Terranova.

Freeport Mcmoran (FCX) dropped 7%. Though the company said its fourth-quarter profit jumped 60 percent, investors were expecting even stronger results and sold the stock on the news. - I'd stay short, says Tim Seymour.

Cree(CREE) dropped 23%. Though profits jumped 47%, results fell short of the company’s estimates; also management gave a weak outlook. - I think it goes even lower, says Stephen Weiss.




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Trader disclosure: On Jan. 21, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders;
Seymour owns (AA); Seymour owns (BA); Seymour owns (BAC); Seymour owns (F); Seymour owns (GE);
Grasso owns (ASTM); Grasso owns (BA); Grasso owns (BAC); Grasso owns (BWC); Grasso owns (C); Grasso owns (CSCO); Grasso owns (JPM); Grasso owns (LIT); Grasso owns (LPX); Grasso owns (MHY); Grasso owns (NDAQ); Grasso owns (PFE); Grasso owns (PRST); Grasso owns (S); Terranova Owns (UPL); Terranova Owns (VRTS); Terranova Owns (PVH); Terranova Owns (GM); Terranova Owns (CVI); Terranova Owns (CNQ); Terranova Owns (LTD); Terranova Owns (C); Terranova Owns (PEP); Terranova Owns (CPX); Terranova Owns (ARUN); Terranova Owns (MS); Terranova Owns (RSH); Terranova is short Gold; Weiss owns (DZZ); Weiss owns (TBT); Weiss owns (UUP); Weiss owns (MXIM); Weiss owns (QCOM); Weiss owns (FWLT); Weiss owns (SMN); Weiss owns (JPM); Weiss owns (FAS); Weiss is short (GDX)

For Steve Grasso:
Stuart Frankel & Co and it’s partners own (AAPL)
Stuart Frankel & Co and it’s partners own (ABX)
Stuart Frankel & Co and it’s partners own (CSCO
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 (HSPO)
Stuart Frankel & Co and it’s partners own (NEM)
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 (S)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own (UAL)
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)
Stuart Frankel & Co and it’s partners are short (AAPL)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (SDS)
Accounts Managed By Kanundrum Capital Own (DBA)
Accounts Managed By Kanundrum Capital Own (JJG)
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Are Long The Euro
Accounts Managed By Kanundrum Capital Are Short The Yen

For Doug Kass
Kass has no disclosures

For Colin Gillis
Gillis has no disclosures

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