'Fast Money' Pops and Drops: GE Stalls Out
TSC Staff
10/13/08 - 06:50 PM EDT
Pops
Alcoa(AA) traded up 22%. Seymour said "Moody's downgraded them on $7.2 billion in debt," and he said would be out of the stock.
The
Utilities SPDR ETF(XLU) jumped 12%. Adami said he would still buy
Mirant(MIR) despite the stock's huge pop today.
Research In Motion(RIMM) rose 15% after the company announced it will launch its flip phone in the U.S. with T-Mobile. Macke joked, "Are we bailing out Canada now?"
Boeing(BA) added 12%. Finerman said she hopes BA gets a deal done soon with the machinists union.
Prudential Financial(PRU) soared 38% after the company reported earnings that were better than expected. Seymour said "the reality is they won't have to raise new capital."
Chesapeake Energy(CHK) surged 23%. Adami says the stock goes higher from here.
AT&T(T) traded up 16% after the company said it will sell its U-verse high-speed Internet and video service at
Wal-Mart(WMT) and
Circuit City(CC).
E Trade Financial(ETFC) added 18%. Finerman pointed out it was only a pop of 41 cents.
Mosaic(MOS) moved up 21%. Seymour says the ag space still has strong pricing power.
Solar stocks added gains across the board. Adami mentioned that
First Solar(FSLR) had a nice bounce today.
Drops
Sovereign Bancorp(SOV) fell 3%. Macke joked, "they're selling out to the Brazilians."
General Electric(GE) dropped 2% after the conglomerate posted lower third-quarter earnings. Finerman said, "How lame is that?"
