Fast Money Pops & Drops
'Fast Money' Pops and Drops: Solid Hardware
TSC Staff
09/05/08 - 06:40 PM EDT
Pops
Home Depot(HD Quote) and Lowe's(LOW Quote) both popped over 5% this week. Adami thinks the Treasury plan for Freddie Mac(FRE Quote) and Fannie Mae(FNM Quote) should be positive news for both.
Amazon.com(AMZN Quote) added 3% to $6.28, despite the company's announcement that same-store sales dropped 10%. Macke said this is a good opportunity to sell the stock.
Drops
Google(GOOG Quote) dropped 7%. Macke said that slowing growth and giving stuff away for free isn't enough to support a stock in this market.
Alcoa(AA Quote) fell 11% this week. Najarian explained that the liquidation in the hedge-fund world of commodity stocks was bad for Aloca.
Oil Service Trust(OIH Quote) lost 6%. Finerman said that at this level it's overdone to the downside.
Johnson & Johnson(JNJ Quote) traded down 2% this week. Adami explained the fundamentals are still in place at JNJ.
Advanced Micro Devices(AMD Quote) dropped 8% after Merrill Lynch cut their estimates on the chipmaker. Najarian said to stay away for a little while longer.
Hovnanian Enterprises(HOV Quote) plunged 14% after reporting disappointing earnings this week. Finerman said that if you want to play a bounce in the builders, find a different name.
Freeport McMoRan Copper & Gold(FCX Quote) slipped 13%. Adami said you might want to own this one.