'Fast Money' Pops & Drops: Crafty Kraft

The trading panel says the food company's is cutting costs and keeping prices the same.

Author:: TSC Staff
Publish date:: Oct 29, 2008 6:56 PM EDT

Pops

Chesapeake Energy

rose 6% ahead of their earnings report set for Thursday. Najarian said every time this stock trades below $20 per share, it spikes higher.

Legg Mason

(LM) - Get Report

soared 30% after the asset management company beat estimates by 45%. Macke says "the move was huge and impressive."

Apple Computer

(AAPL) - Get Report

jumped 4%. Adami explained that Sanford C. Bernstein & Co. came out and said Apple should use its cash to buy back the stock.

First Solar

(FSLR) - Get Report

surged 16% in after-hours trading. The alternative energy company said it doubled revenue and income for the third quarter. Najarian says, "you have to like what is going on at First Solar."

Drops

Johnson & Johnson

(JNJ) - Get Report

dropped 4% after JPMorgan downgraded the stock, saying it's overvalued. Adami mentioned that

Barron's

recently said the stock was the cheapest it's been in 10 years. He says "somebody is wrong, but I don't know what it is."

Kraft Foods

( KFT) fell 1%. Seymour mentioned that Kraft is attractive because its cost basis is dropping, and it won't be cutting prices anytime soon.

Sony

(SNE) - Get Report

traded down 4% after the consumer electronics maker said quarterly profits plunged 72%. Seymour said nobody is buying electronics and a stronger yen will make it nasty for Sony.

This article was written by a staff member of TheStreet.com.