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Following are Wednesday's Pops & Drops.
Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!
Abercrombie & FitchThe catalyst: Published reports suggested that Abercrombie & Fitch plans a big share buyback and intends to cut back on its European expansion plans.
The trade: I wouldn’t pay this price, says Fast trader Steve Grasso, director of institutional sales trading at Stuart Frankel, but on a pullback I’m interested.
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International PaperThe catalyst: Although the catalyst was unclear, earlier in July International Paper said it had completed the sale of three mills, a move that was required by federal regulators as part of the company's February acquisition of Temple-Inland.
The trade: I like the synergies coming from Temple-Inland. This stock is interesting, says trader Stephanie Link, director of research at TheStreet.
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