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Following are the day’s biggest winners and losers. Find out why shares of AMR Corp. and Movado popped while Sallie Mae and Safeway dropped.
POPS (stocks that jumped higher)Johnson Controls (JCI) popped 6%. Profit at the auto parts maker climbed 27% in the second quarter and beat analyst estimates. – If you want to play auto look at BWA in this space, counsels Guy Adami.
AMR Corp. (AMR) popped 4%. Despite American's $328-million loss for the quarter shares rallied on word the company would sell its investment unit. – It doesn’t make up for the drop on Tuesday, says Pete Najarian.
CSX Corp (CSX) popped 4%. The rail company touched a 52-week high after it announced a 46% profit increase. – I think the rails have pricing power, says Guy Adami.
Banco Brasdesco (BBD) popped 5%. This bank climbed up the Bovespa index after UBS upgraded Brazilian stocks. – This is a $65 billion company, explains Tim Seymour.
Elan (ELN) popped 11%. The Irish company spiked after word that its biotech partner, Biogen, did not discover any additional cases of a fatal infection related to their MS drug Tysabri.- I think ELN is going higher, says Pete Najarian.
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