Following are the week’s biggest winners and losers. Find out why shares of Comcast and Wrigley popped while SunMicrosystems and Deere dropped.
POPS (stocks that jumped higher)
Comcast (CMCSA) popped 12%. The cable company's quarterly results were boosted by higher sales of its internet and phone services. – I think things are coming back for them, says Karen Finerman.
Wm. Wrigley Jr. Company (WWY) popped 21%. Using some of Warren Buffett’s cash Mars bought the chewing gum maker for $23 billion.
Dolby Laboratories (DLB) popped 13%. The company behind sound systems for movies posted better-than-expected earnings. – They’re apparently getting some significant revenues on licensing, says Tim Seymour.
Jones Apparel (JNY) popped 16%. Merrill Lynch upgraded the seller of Nine West shoes to "buy'' from "neutral'.' – It’s early for this one, says Jeff Macke.
Children's Place (PLCE) popped 14%. Disney reclaimed control of its Disney store outlets, a money-losing operation Children's Place had been managing. – I sold half of my position, reveals Karen Finerman.
Equine Plastic Surgery. Although racehorses go under the knife to correct injuries or alleviate joint problems - a portion of the 5,000 annual horse surgeries are done purely for cosmetic reasons to make them more appealing to potential buyers. To see what kind of equine improvements are being made, check out CNBC’s High Net Worth on Friday at 8:30 and 11:30 ET.
Giant Interactive (GA) popped 27%. The Chinese online gaming company reported that 2.1 million players were concurrently signed on to its "ZT Online" game, which Giant said is a record in the Chinese online gaming industry. – I think it’s an interesting story, says Tim Seymour. Keep an eye on it.
DROPS (stocks that slid lower)
SunMicrosystems (JAVA) dropped 19%. Shares of the technology firm plunged on an unexpected quarterly loss. – I think it’s a sell, says Jeff Macke.
Deere (DE) dropped 5%. A number of ag names rolled over this week. – I don’t think the ag trade is over but don’t own Deere until they report, says Guy Adami.
Altria (MO) dropped 6%. Morgan Stanley cut their outlook on the tobacco industry to "in-line'' from "attractive'' citing worsening prospects for U.S. growth.
Jose Canseco. The mortgage crisis scooped up yet another victim this week. Jose Canseco, the former baseball star, stopped making payments on his $2.5 million, 7,300-square foot home in Encino and the house is now under foreclosure. At the peak of his career, Canseco earned $6 million dollars a year.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On May 2, 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 (ATVI), (DIS), (MSFT), (HAS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT); Seygem Asset Management Owns (EEM), (INFY); Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (NYX), (MO), (MSFT), (PLCE), (PM),(YHOO) and (YHOO) Call Spreads, S&P 500 Puts, Finerman's Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Finerman's Firm And Finerman Own (C) And (C) Leaps; GE Is The Parent Company Of CNBC