Pops & Drops: CVS, General Motors...
Following are the day’s biggest winners and losers. Find out why shares of CVS and Intrepid Potash popped while General Motors and Ambac dropped.
POPS (stocks that jumped higher)
CVS Caremark (CVS) popped 3%. A Goldman Sachs analyst said Wal-Mart's plan to expand its discount drug program won't impact CVS, the nation's largest pharmacy chain. – Goldman Sachs is wrong, exclaims Jeff Macke.
Walter Industries (WLT) popped 12%. Shares of the industrial name touched a 52-week high on expectations of higher coal prices. – I think it’s the right spot in the right time, says Pete Najarian
Freeport McMoRan (FCX) popped 5%. Power shortages in emerging markets are expected to knock metal mines offline, which in turn could send up prices for copper and gold. – I think it’s going to $200, says Guy Adami.
Old Soda-Pop. Coke is bringing back its vintage "diamond label" bottle from 1906 in limited quantities and printing a line of "vintage" t-shirts to go along with the campaign. No word on whether Coke is switching to glass to defray the cost of aluminum, up 15% in the last 3 months.
Intrepid Potash (IPI) popped 8%. The recently debuted fertilizer company jumped on Monday for no clear reason. – Take some profits, counsels Pete Najarian.
Melco PBL Entertainment (MPEL) popped 7%. Barron's spotlighted Stanley Ho's casino as the best buy in Macau. – I’m not sure, says Karen Finerman.
U.S. Steel (X) popped 6%. Another metals name heated up Monday as the price of steel surged at auction. – It’s always a pop, says Guy Adami.
LDK Solar (LDK) popped 5%. Oil's surge back to $120 per barrel sent alternative energy shares higher. – I wouldn’t go crazy, says Pete Najarian.
Beer coffin. Bill Bramanti, a 67-year old man from Chicago, has custom ordered his coffin to look like a giant can of Pabst Blue Ribbon.
DROPS (stocks that slid lower)
General Motors (GM) dropped 4%. Workers at a Kansas plant walked off the job over a labor dispute and disrupted production of the popular Chevy Malibu. – I’m not a GM fan, says Guy Adami.
Ambac (ABK) dropped 9%. Over the weekend Warren Buffett said the other bond insurers shouldn't still have AAA-ratings. – It’s not good, says Karen Finerman.
Limited Brands (LTD) dropped 5%. Retailers, like this maker of Victoria's Secret, closed lower on concerns that high gas prices will slow consumer spending. – Time to move along, says Jeff Macke.
Churchill Downs (CHDN) dropped 5%. Shares of the racetrack operator dropped after Friday downgrades. – Not loving this stock right now, says Jeff Macke.
Fannie Mae (FNM) dropped 4%. The mortgage lender is expected to report another loss when earnings come out Tuesday. – I’m curious, says Karen Finerman.
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Trader disclosure: On May 5, 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 (MSFT), (DIS), (INTC), (HAS); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Najarian Owns (AAPL), (TSO), (XLF); Najarian Owns (C) Calls, (MSFT) Calls, (POT) Calls, (BUD) Calls; Najarian Owns (YHOO) And Is Short (YHOO) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MSFT), (TSO), (VLO), (VCLK); Finerman's Firm Owns (YHOO) And (YHOO) Call Spreads; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns (FNM) Calls; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC