Fluor (FLR) popped 15%. After boosting profits 64% this quarter analysts at Lehman and Friedman, Billings Ramsey upgraded the infrastructure name. – It’s all working, says Karen Finerman.
Medarex (MEDX) popped 14%. An analyst at Needham & Co. upgraded this biotech citing upcoming presentations on its melanoma and rheumatoid arthritis drugs. – Interesting, says Pete Najarian.
The McGraw-Hill Companies (MHP) popped 5%. Goldman Sach’s added this publisher of magazines, textbooks, and owner of Standand & Poors to its Conviction "Buy" List. MHP was also upgraded by Jefferies. – I wouldn't be a huge buyer here, says Guy Adami.
Constellation Brands (STZ) popped 12%. The liquor company's execs told investors at a Goldman Sachs consumer conference that its premium wine business was still strong amid an economic slowdown. – Interesting, says Jeff Macke.
Abbott Labs (ABT) popped 3%. In a two-year test this Chicago-based drug maker's stents performed better than those made by Boston Scientific.– I think it could be a drop later on, says Pete Najarian.
Foster Wheeler (FWLT) popped 9%. After fellow infrastructure name Fluor increased profits by 64%, shares of Foster Wheeler climbed higher.- I think it’s a good way to play synthetic power, says Guy Adami.
USANA Health Sciences (USNA) popped 23%. The founder and CEO of this nutrition company offered to take it private at $26/share valuing the company at $428 million. He previously owned 68% of the company.
DROPS (stocks that slid lower)
IndyMac (IMB) dropped 24%. The mortgage lender reported a worse than expected quarterly loss and said it would stop interest and dividend payments on certain securities. – Stay away, says Karen Finerman.
True Religion Apparel (TRLG) dropped 6%. It was a pop last week on earnings but on Tuesday the high-end jean maker dropped on no news.
The TJX Companies (TJX) dropped 5%. Profits at TJ Maxx and Marshall's were up 20% but investors sold off shares on a disappointing Q2 forecast. – This stock had been a little rich, says Karen Finerman.
Western Refining (WNR) dropped 17%. WNR swung to a loss as record crude prices squeezed profit margins. Revenue, however, more than doubled.
Jet Blue. Gokhan Mutlu, a New York City man, is suing JetBlue for $2 million dollars claiming that during a flight to San Diego he was forced to give up his seat to a flight attendant and ordered by the pilot to sit on the toilet instead. JetBlue shares were down 2% today.
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Trader disclosure: On May 13, 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 (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (AAPL), (AMAT), (ENER), (NOK), (TSO), (XLF); Najarian Owns (C) Calls, (MSFT) Calls, (YHOO) Calls, (AES) Calls; Macke Owns (WMT), (INTC), (DIS), (EMC), (ATVI), (MSFT), (HAS); Finerman Owns (GS); Finerman's Firm Owns (KSS), (MSFT), (TSO), (VLO), (GLNG); Finerman's Firm Owns (YHOO) Call Spreads; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC