Pops & Drops: Fortinet, DeVry, Callaway Golf and More
Fortinet (FTNT) popped 16%: The network security supplier saw shares rally after beating earnings-per-share forecasts by 8 cents.

"Every one of the metrics is off the charts. This stock has been on an absolute tear," said Pete Najarian, co-founder of optionMONSTER.com. "When you look at the short interest, you could understand why I think it's time to take some off the table."

DeVry (DV) popped 12%: The for-profit education company reported second-quarter earnings of $1.25 a share, which beat the Street's expectations.

DROPS (stocks that went lower)

Callaway Golf (ELY) dropped 4%: The sporting goods company reported higher-than-expected fourth-quarter revenues. Its earnings-per-share, however, fell short of analysts' forecasts.

Guy Adami, managing partner at Drakon Capital, called it an "abysmal quarter." He noted that there has been considerable short interest in this stock and guessed it could go lower.

Xerox (XRX) dropped 7%: The printer provider posted a 5 percent decline in fourth-quarter profits. It beat expectations by a penny, though. Still, the company offered a lukewarm outlook. With the company's CFO leaving and its stock at a new 52-week low, trader Josh Brown recommends avoiding XRX right now.

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Trader disclosure: On Jan. 26, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE) and (BTU). Karen Finerman owns (AAPL), (BAC), (BP), (C), (GLW), (GOOG), (HPQ) and (MSFT). Karen Finerman owns (BAC) leaps. Karen Finerman owns (JPM) and (JPM) leaps. Pete Najarian owns (BAC) call spreads. Pete Najarian owns (C). Pete Najarian owns (F) calls and bonds. Pete Najarian owns (GE). Pete Najarian owns (JPM) call spreads. Pete Najarian owns (MS). Pete Najarian owns (TCK). Pete Najarian owns (YHOO) and (YHOO) calls. Josh Brown owns (BAC), (GE), (JPM), (QCOM), (NVDA) and (GLD).

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KAREN FINERMAN

Finerman's firm is short (MDY)

Finerman's firm is short (SPY)

Finerman's firm is short (IWM)

Finerman's firm is short (IJR)

Finerman's firm is long S&P puts

Finerman's firm is long Russell 2000 puts

Finerman's firm owns (AAPL)

Finerman's firm owns (BBY)

Finerman's firm owns (BP)

Finerman's firm owns (HPQ)

Finerman's firm owns (IBM

Finerman's firm owns (JPM) and (JPM) leaps

Finerman's firm owns (MCD)

Finerman's firm owns (MSFT)

Finerman's firm owns (TGT)

Finerman's firm owns (WMT)

GUY ADAMI

Adami's wife works for (MRK)

BRIAN KELLY

Accounts Managed By Kanundrum Capital Own (FCX)

Accounts Managed By Kanundrum Capital Own (GLD)

Accounts Managed By Kanundrum Capital Own (MCP)

Accounts Managed By Kanundrum Capital Own (SLV)

Accounts Managed By Kanundrum Capital Own (TBT)

Accounts Managed By Kanundrum Capital Are Long The Euro

Accounts Managed By Kanundrum Capital Are Short The Yen

Accounts Managed By Kanundrum Capital Are Short (XLF)

JOSH BROWN

Brown owns (AAPL) for clients

Brown owns (AMZN) for clients

Brown owns (AXP) for clients

Brown owns (BAC) for clients

Brown owns (BP) for clients

Brown owns (C) for clients

Brown owns (C) for clients

Brown owns (CSCO) for clients

Brown owns (F) for clients

Brown owns (GE) for clients

Brown owns (GDXJ) for clients

Brown owns (GLD) for clients

Brown owns (GOOG) for clients

Brown owns (HPQ) for clients

Brown owns (IBM) for clients

Brown owns (JNJ) for clients

Brown owns (JPM) for clients

Brown owns (MCD) for clients

Brown owns (MOS) for clients

Brown owns (MSFT) for clients

Brown owns (MS) for clients

Brown owns (NVDA) for clients

Brown owns (QCOM) for clients

Brown owns (T) for clients

Brown owns (UNH) for clients

Brown owns (WFC) for clients

ANDY BUSCH

Busch has no disclosures

MIKE KHOUW

Cantor Fitzgerald & Co is a market maker in (AMZN)

Cantor Fitzgerald & Co is a market maker in (F)

DAVID RIEDEL

Riedel has no disclosures

COLIN GILLIS

BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from (MSFT)

No disclosures on (AMZN)

—CNBC.com contributed to this report