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Here are the highlights of stocks discussed on CNBC’s Fast Money halftime report on July 21.
Pops and Drops Highlights
Pops:
The New York Times Company (NYSE:NYT) – Up 4%. Adami was bearish and stated:

“Huge growth in digital subscribers ... we will see ... it’s funny though, it’s been selling off most of the day. I think it’s over extended here, I’d be taking profits.”

The New York Times Company operates as a diversified media company in the United States. The company is trading on par with analysts' estimates. The New York Times has a median price target of $9.50 by five brokers and a high target of $11.50. The last up/downgrade activity was on Oct 20, 2010, when Argus downgraded the company from Buy to Hold.
Drops:
Pepsico, Inc. (NYSE:PEP) – Down 5%. Edwards was bearish and said:

“Commodity costs are actually a huge headwind for them at this point in time. They don’t have the spread that the Coca-Cola Company (The) Common (NYSE:KO) does as far as global growth. I’d be in Coke instead of Pepsi.”

PepsiCo manufactures, markets and sells various foods, snacks and carbonated and non-carbonated beverages worldwide. The company is trading below analysts' estimates. Pepsi has a median price target of $65 by 16 brokers and a high target of $72. The last up/downgrade activity was on Feb. 11, when Davenport downgraded the company from Buy to Neutral.
Safeway Inc. (NYSE:SWY) – Down 7%. Cortez was bullish and stated:

“They reduced their outlook. I really do like the grocers. I’m long Supervalu Inc. (NYSE:SVU). The main reason is we are seeing food costs go down dramatically since May 1. We have a 20% drop in Coffee and Wheat.”

Safeway Inc., together with its subsidiaries, operates as a food and drug retailer in North America. The company is trading on par with analysts' estimates. Safeway has a median price target of $24.50 by 14 brokers and a high target of $29. The last up/downgrade activity was on Jun 9, 2011, when Barclays Capital upgraded the company from Underweight to Equal Weight.
Travelzoo Inc. (NASDAQ:TZOO) – Down 32%. Grasso was bearish and stated:

“Have you seen this thing on a chart? I don’t have the stomach for this. Stocks fill gaps ... up and down ... but I would stay away.”

Travelzoo Inc., an Internet media company, publishes travel and entertainment offers from various travel and entertainment companies in North America and Europe. The company is trading significantly below analysts' estimates. Travelzoo has a median price target of $107 by five brokers and a high target of $124. The last up/downgrade activity was on May 31, 2011, when Morgan Keegan upgraded the company from Market Perform to Outperform.
Philip Morris International, Inc. (NYSE:PM) – Down 4%. Edwards was bullish and said:

“Phillip Morris is one that over the long run I would be long. I am long. I love their emerging market exposure.”

Philip Morris International Inc., through its subsidiaries, engages in the manufacture and sale of cigarettes and other tobacco products in markets outside of the United States. The company is trading below analysts' estimates. Phillip Morris has a median price target of $73 by 14 brokers and a high target of $80. The last up/downgrade activity was on Jul 28, 2009, when UBS downgraded the company from Buy to Neutral.



Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: CNBC's Fast Money Halftime Recap: Pops and Drops