Pops & Drops: Petrobras, Hasbro...
Following are the day’s biggest winners and losers. Find out why shares of Petrobras and Hasbro popped while News Corp and Winnebago dropped.
POPS (stocks that jumped higher)
Pilgrim's Pride (PPC) popped 4%. The world's largest chicken processor said high feed costs forced it to cut production by 5%. – Make of it what you will, says Jeff Macke.
Petrobras (PBR) popped 8%. Brazil's state-run oil company exploded higher on reports they may have discovered a 33-billion barrel oil deposit - which if confirmed would make it the largest discovery ever. – I think there’s something there, says Guy Adami.
Hasbro (HAS) popped 2%. A Needham analyst upgraded the toy company to "buy" from "hold" and set a $37 price target. – Toys seem recession proof, says Jeff Macke.
Ugly Marriages. A study by the University of Tennessee suggests that marriages in which the woman is better looking than the man tend to be more successful. A possible reason, the researchers say, is that "Attractive men have available to them more short-term mating opportunities. This may make them less satisfied and less committed to the marital relationship."
NutriSystem (NTRI) popped 7%. The S&P 600 Small Cap Index added the weight-loss company to its ranks. – I wouldn’t go racing into this stock, says Guy Adami
W.W. Grainger (GWW) popped 2%. The building supplies and tool company raised its full year forecast. – Good to see some life out there, says Karen Finerman.
Trina Solar (TSL) popped 16%. Alternative energy names heated up again for no clear reason. – Gold old fashioned giddyup, exclaims Pete Najarian.
Aspen Technology (AZPN) popped 14%. The company, which provides computing services for oil firms, filed a delayed annual report.
DROPS (stocks that slid lower)
Phillips (PHG) dropped 3%. The Amsterdam-based electronics maker said quarterly profits were down on shrinking flatscreen TV prices. – I think they’re facing the same issues as GE, says Pete Najarian.
Ambac (ABK) dropped 5%. The mortgage insurer moved lower along with the rest of the financials Monday. – That’s actually an up day for them, Karen Finerman says with a wink and a nod.
News Corp (NWS) dropped 5%. The media conglomerate received a downgrade from a Sanford C Bernstein analyst, who cast doubt on projected MySpace revenues. – It’s having a difficult time, says Pete Najarian.
Winnebago (WGO) dropped 5%. This RV maker continued its tumble lower. – Don’t buy this dip, counsels Jeff Macke.
Yankee Curse. After a BoSox-loving construction worker buried a David Ortiz jersey in concrete at the new Yankee Stadium currently under construction, Yankee management had the jersey exhumed, thwarting any potential curse.
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Trader disclosure: On Apr. 14, 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), (INTC), (HAS) (MSFT); Najarian Owns (AAPL), (AMR), (CSCO), (TSO) (XLF), (YHOO); Najarian Owns (BHI) Calls, (BSC) Calls, (CHK) Calls, (LEH) Puts; Najarian Owns (MSFT) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (WMT), (YHOO), (GLNG), (CROX); Finerman's Firm Is Short (IYR), (IJR), (SPY), (MDY), (IWM), (COF) (GLD); Finerman's Firm Is Short (FNM) Calls; Finerman's Firm Is Short The British Pound; Finerman's Firm And Finerman Own (KALU); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC