'Fast Money' Pops and Drops: Chips Ahoy
Here's what CNBC's "Fast Money" traders had to say about some of the market's biggest movers on their "Pops and Drops" segment Wednesday.
Iomega (IOM) popped 5%. Pete Najarian said everyone's been talking about this company, and something finally happened.
Sealy (ZZ) was up 7%. Jeff Macke said that this is an opportunity to sell.
DropsThe Pantry (PTRY) dropped 26%. Adami said the stock is down 67% from June. The company guided to a loss because of hedging losses, and that accounts for the drop, he said. Cosan (CZZ) fell 2%. Tim Seymour said the company is the largest ethanol producer in Brazil, but the government is taxing them heavily. It's an interesting story, but a challenging market, he said. Amazon.com (AMZN) was down 4%. Macke said Lehman Brothers lowered estimates on the online retailer. Visa (V) slipped down 3%. Adami said the stock still has downside. Ternium (TX) gave up 10%. Seymour said that he believes the stock is overdone to the downside, but we don't know the end of the story. Men's Wearhouse (MW) plummeted 7%. It's a tough time to be a retailer, Macke said. Greenbrier (GBX) was off 6%. Adami said the company is a Carl Icahn favorite. He said he likes the stock, and he recommended buying it on a pullback. AT&T (T) tumbled 2%. Najarian said that when the market started to fall, investors took profits in AT&T.
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