'Fast Money' Pops and Drops: PetroChina
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 Thursday.
PetroChina (PTR) was a pop today. Joe Terranova said that it is a great play without having to touch oil futures.
Carnival (CCL) made investors happy today as it popped 5%. Jeff Macke said that it recently released its largest cruise liner and that the recent airline cutbacks have provided aid for the cruise industry.
Casella Waste Systems (CWST) was another pop today. Terranova said that it was raised to overweight by JPMorgan.
DropsCitigroup (C) lost today and Guy Adami said that he "wouldn't buy it with Pete's money." Peter Najarian said that Alpha Natural Resources (ANR) had a "tough day" but he still likes them. Today, satellite radio companies dropped. XM Satellite Radio (XMSR) received a 17% hit and Sirius (SIRI) was downgraded by Goldman Sachs. Macke said that he told investors "sell on Monday." Moving on to financials, UBS (UBS) faltered on Thursday with a 4% drop. Terranova said that Goldman Sachs spoke of European banks, specifically UBS, having the largest exposure right now. J.M. Smucker (SJM) was 8% lower today and Adami said that if you bought ahead of earnings it was not a good day for you. Motorola (MOT) and Nokia (NOK) stumbled during today's trading hours. Najarian said that many consumers are purchasing BlackBerry and the iPhone now; unfortunately, this hurts the other phone producers.
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