Pops & Drops: eBay, Dell...
Following are the week’s biggest winners and losers. Find out why shares of eBay and Prudential popped while Dell and Sotheby's dropped.
POPS (stocks that jumped higher)
eBay (EBAY) popped 9%. Both Bank of America and Merrill Lynch handed upgrades to the online auction site. – Why bother, says Jeff Macke.
Energy Conversion Devices (ENER) popped 11%. Solar stocks surged once again this week. – I like it, says Pete Najarian.
Prudential Financial (PRU) popped 8%. Lehman upgraded the life insurance firm, citing lower risk to mortgage backed securities. – I think it could go to $85, says Guy Adami.
Career Education Corp (CECO), Corinthian College (COCO) and Apollo Group (APOL) all popped more than 15%. Congress increased the amount students can borrow from government-guaranteed loan programs to pay for college. – Good for these guys, says Karen Finerman.
Massey Energy (MEE) popped 27%. The coal company said it was ramping up capital spending to take advantage of higher metallurgical coal prices in the coming year. – I think it’s just beginning, says Pete Najarian.
Dendreon (DNDN) popped 18%. The biotech entered an agreement to sell 8 million common shares at a price 17% higher than the previous day's close. – It’s a lottery ticket, says Guy Adami.
Marriott (MAR) popped 4%. OptionMonster spotted high call volume in this oft-rumored takeover target. – Don’t buy into the takeover rumors, counsels Pete Najarian.
Crocs (CROX) popped 7%. Mixed news this week for the rubber-clog-maker: first JPMorgan downgraded the stock, then the company received positive comments from a Wedbush Morgan analyst.
VMWare (VMW) popped 13%. Wachovia upgraded the software efficiency firm to "Outperform" from "Market Perform."
New Kids On The Block. Yes, Joey, Jonathan, Jordan, Dannie and Donnie are back: The New Kids on the Block appeared on the Today Show to confirm they were reunited and going on tour for the first time since 1994.
DROPS (stocks that slid lower)
Dell (DELL) dropped 3%. Goldman downgraded the PC-maker to "neutral'' from "buy.'' – Not good, says Jeff Macke.
Sotheby's (BID) dropped 3%. Investors didn't like the auction house's decision to expand its luxury realty business in Europe. – There’s a lot of rich people in Europe, says Karen Finerman.
America. A New York Times/CBS Poll concludes that 81% of Americans think “things have pretty seriously gotten off on the wrong track." That's the highest level since they began taking the survey in the early 90s. The pollsters cited economic woes and the war in Iraq as the primary causes for Americans' dismal outlook.
Garmin (GRMN) dropped 4%. The GPS navigation device maker tumbled after they warned of steep drop in quarterly sales.
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Trader disclosure: On Apr.4, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (MSFT), (INTC), (DIS); Najarian Owns (AAPL), (YHOO), (ENER); Najarian Owns (MER) Puts, (LEH) Puts; Najarian Owns (BSC) Calls, (MSFT) Calls, (MAR) Calls, (ESLR) Calls; Finerman Owns (HD), (LOW), (CROX); Finerman's Firm Owns (GS), (YHOO), (MSFT), (WMT), (HD), (CROX), (MO); Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY); Najarian Owns (AAPL), (YHOO), (ENER); Najarian Owns (MER) Puts, (LEH) Puts; Najarian Owns (BSC) Calls, (MSFT) Calls, (MAR) Calls, (ESLR) Calls