Pops & Drops: Sealy, Amazon, Visa...
Following are the day’s biggest winners and losers. Find out why shares of Sealy and SanDisk popped while Amazon and Visa dropped.
POPS (stocks that jumped higher)
Sealy (ZZ) popped 7%. The mattress maker exploded higher after its profits exceeded expectations, and a Morgan Keenan analyst gave it an upgrade. – It’s an opportunity to sell, says Jeff Macke.
Crayola. Wednesday marked the 50th Anniversary of the Crayola "64 Box" which made its debut on Captain Kangaroo in 1958. To celebrate the occasion, the company revealed 8 new "Kids Choice" colors, with names like "super happy," "giving tree," "bear hug" and "awesome."
SanDisk (SNDK) popped 7%. After Elpida, Japan's largest memory chip company, increased prices by 10%, it sent a ripple through other memory stocks including SanDisk.
Butlers. An influx of nouveau riche into London suburbs is causing a spike in demand for traditional, Victorian butlers, according to Bloomberg. The best-trained "Jeeves" can demand salaries of up to $140,000.
California Pizza Kitchen (CPKI) popped 6%. The casual dining chain forecast a higher than expected 1st quarter profit. – I’m skeptical, says Tim Seymour. I don’t think people are rushing to eat out.
Cross-dressing at Wal-Mart. New video released by Wal-Mart's former video production company shows scenes from internal meetings in which male managers perform on-stage in drag at an executive meeting. The company, Flagler Productions, lost its agreement with Wal-Mart in 2006 and is now selling the video for up to $7500 dollars per minute.
DROPS (stocks that slid lower)
The Pantry (PTRY) dropped 26%. The operator of the Kangaroo Express convenience store chain said it lost money in the second quarter; it was also downgraded at Merrill Lynch. – I don’t like it, says Guy Adami.
Cosan (CZZ) dropped 2%. The Brazilian alternative energy firm dragged down the Bovespa after proposed tax increases on ethanol producers. – It’s an interesting situation, says Tim Seymour.
Amazon.com (AMZN) dropped 4%. Lehman Bros said that first quarter earnings for Amazon (and fellow dot-com giant Google) would indeed be impacted by the economic slowdown. – Not so impressed, says Jeff Macke.
Visa (V) dropped 3%. After Tuesday's 5% pop, volatile Visa gave some of it back Wednesday. – I still think it has downside, counsels Guy Adami.
Ternium (TX) dropped 10%. Hugo Chavez said he was nationalizing the Venezuelan operation of this Luxembourg-based steel miner after the company failed to reach a new labor agreement. – We don’t know the end of this story, says Tim Seymour.
Men's Wearhouse (MW) dropped 7%. The men's formalwear retailer closed down sharply ahead of same store sales. – It’s a tough time to be a retailer, says Jeff Macke.
Greenbrier (GBX) dropped 6%. The railroad parts company swung to a profit, but was still short of analyst expectations. – I think you can buy it on a pullback, says Guy Adami.
AT&T (T) dropped 2%. Big telecom stocks were down across the board today. – It’s profit taking, explains Pete Najarian.
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Trader disclosure: On Apr .9, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (AAPL), (AMR), (BIIB), (CSCO), (NOK), (TSO), (XLF), (YHOO), (EMC), (WLT); Najarian Owns (CHK) Calls, (COP) Calls, (MSFT) Calls, (SLB) Calls; Najarian Owns (LEH) Puts, (OIH) Puts; Macke Owns (YHOO), (INTC), (DIS), (MSFT); Seymour Owns (AAPL), (BX), (CHL), (CSCO), (INTC), (MSFT), (SBUX), (TSO), (TIE); Seygem Asset Management Owns (COP)