Following are the day’s biggest winners and losers. Find out why shares of Google and Wynn popped while BJ Services and Netflix dropped.
POPS (stocks that jumped higher)
Clear Channel Communications (CCU) popped 4%. The banks involved in the $20 billion buyout of the radio company said they would agree to binding arbitration to resolve the dispute over funding the deal. – But the private equity group said no way, adds Karen Finerman.
Google (GOOG) popped 3%. Google shares crossed the $550 mark as this stock continued its climb in the aftermath of last week's earnings blowout. – I think it’s a buy on any pullback, says Jeff Macke.
Wynn (WYNN) popped 8% and Las Vegas Sands (LVS) popped 9%. Both companies, with existing operations in Macau, moved higher on news that the government in the Chinese gambling mecca won't issue any new gambling permits. – I like it, says Pete Najarian.
Zoran Corp (ZRAN) popped 14%. The maker of chips and software for DVD and digital photography equipment forecast higher than expected revenue. – I’m not a fan of the chip world, says Pete Najarian.
Freeport McMoRan (FCX) popped 3%. Ahead of its earnings report Wednesday, a Lehman Bros analyst said shares of this copper and gold miner could go to $200. – I think this stock is still cheap, says Guy Adami.
Brinker International (EAT) popped 7%. The company behind Chili's casual dining restaurants reported a better than expected operating profit for the quarter.
Corn Products International (CPO) popped 10%. Profit was up 29% at this maker of high fructose corn syrup.
DROPS (stocks that slid lower)
United Health (UNH) dropped 10%. The nation's largest health insurer missed profit expectations, citing lower sales of insurance plans. – I think it’s a buy with a stop out at $44, says Guy Adami.
BJ Services (BJS) dropped 15%. Profit at the oilfield services name was off 33% on the quarter, due to slowing natural gas drilling in the U.S. – I like it with a 26-handle, says Guy Adami.
Netflix (NFLX) dropped 24%. The DVD-rental company forecast a full year profit that was below an earlier projection. – I was surprised, says Karen Finerman.
Lexmark (LXK) dropped 8%. A slowdown in U.S. inkjet sales led the printer company to announce a forecast shy of expectations. – Tough business in the paperless world we live in, says Jeff Macke. Get out!
Capital One (COF) dropped 3%. The credit card company declined for no clear reason. – I’m short, says Karen Finerman. I expect more consumer losses to come.
The Ball. A fan at Fenway Monday was busy gloating about catching a fly ball - only to drop it to the lower deck moments later.
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Trader disclosure: On Apr. 22, 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); Finerman Owns (GS); Finerman's Firm Owns (DAI), (MSFT), (NYX), (TSO), (VLO), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY),(COF); Najarian Owns (AAPL), (ENER), (NOK), (TSO), (XLF), (YHOO), (EMC); Najarian Owns (BHI) Calls, (DD) Calls, (MSFT) Calls, (POT) Calls, (CHK) Calls; Charles Schwab Is A Sponsor Of "Fast Money"