Advanced Micro Devices (AMD) popped 9%. The chip maker filed a brief in its antitrust lawsuit against Intel, alleging Intel pressured PC makers not to use AMD chips. – I wouldn’t own it, says Guy Adami.
Molson Coors (TAP) popped 7%. The brewer of Blue Moon and Keystone Light reported sales increased by 10%. – It’s rallying out of spite because I recommended it on the show but didn’t buy it myself, says Jeff Macke.
ArvinMeritor (ARM) popped 5%. The maker of vehicle parts is spinning off its passenger vehicle-part division into a new company, Arvin Innovation Inc. – Still works for me, says Guy Adami.
Ashley Olsen. The former "Full House" star is ranked at No. 47 on Maxim Magazine's "Hot 100 List", according to Page Six. Ironically, her twin sister Mary-Kate was left off the list completely.
Anadarko Petroleum (APC) popped 9%. The oil producer beat analyst expectations and reaffirmed its 2008 production targets. – I see more room on the upside, says Pete Najarian.
Precision Castparts (PCP) popped 7%. The metal components maker topped profit estimates. – I think it’s a great play, says Guy Adami.
Estee Lauder (EL) popped 7%. Slowing sales at U.S. department stores sent profits down 4%, but shares rallied on an increased full-year forecast. – Asia and emerging markets are strong for them, explains Karen Finerman.
Sprint Nextel (S) popped 5%. The telecom received an upgrade from Cowen after Deutsche takeover speculation. – There’s nothing here, says Jeff Macke.
"VOG" - Short for volcanic smog, VOG is wreaking havoc in Hawaii where Mount Kilauea has been spewing high levels of sulfur dioxide since March. Locals claim the pollutant has led to shriveled crops, itchy skin, and headaches.
DROPS (stocks that slid lower)
Sara Lee (SLE) dropped 6%. The maker of Sara Lee cakes, Ball Park franks, and Jimmy Dean sausages said higher wheat and oil costs led it to lower its forecast. – Too many costs, says Karen Finerman.
Qwest Communications (Q) dropped 6%. The local phone operator lost 195,000 home lines as customers switched to mobile phones and "triple play" packages from cable providers. – I think it’s going down, down, down, says Pete Najarian.
Collective Brands (PSS) dropped 15%. The parent company of Payless ShoeSource lost a trademark violation lawsuit against Adidas’ "three stripe" design. Collective Brands described the $305 million judgment as "excessive." – That’s bad, says Karen Finerman.
LeggMason (LM) dropped 10%. The money manager posted its first loss in 25 years and announced it would sell a special class of stock to raise $20 billion. – Move along, says Jeff Macke.
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Trader disclosure: On May 6, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (C), (GS), (INTC), (MSFT), (NUE), (BTU), (AGU); Najarian Owns (AAPL), (TSO), (XLF); Najarian Owns (BSC) Calls, (BUD) Calls, (CSCO) Calls, (EP) Calls, (MSFT) Calls, (YHOO) Calls, ( C) Calls; Macke Owns (DIS), (INTC), (MSFT); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD), (KALU); Finerman's Firm Owns (MSFT), (NYX), (PLCE), (TSO), (VLO), (JCP), (AEO); Finerman's Firm Owns (YHOO) And (YHOO) Call Spreads; Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound; Charles Schwab Is A Sponsor Of "Fast Money"; WWE Programs Air On Networks Of NBC Universal, The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC