Pops & Drops: Abbott Labs, Starbucks...
Following are the week’s biggest winners and losers. Find out why shares of Abbott Labs and Starbucks popped while CBS and Dillard's dropped.
POPS (stocks that jumped higher)
Abbott Labs (ABT) popped 6%. Chicago's biggest company by market cap popped after its stents performed better than those made by Boston Scientific. – I think it could continue higher, says Pete Najarian. But remember there’s a lot of risk in this trade.
Starbucks (SBUX) popped 7%. Nelson Peltz's Trian Partners disclosed an 842,000-share stake in the java chain. – Don’t bother, says Jeff Macke.
Advanced Auto Parts (AAP) popped 15%. This auto retailer revved higher after profits spiked 8% this quarter. – I think the play is Borg Warner, counters Guy Adami.
Altria (MO) popped 7%. The Marlboro maker climbed steadily this week. – It’s working nicely, says Karen Finerman.
Cubs. Chicago's favorite team is in first place, and Vegas odds on them winning the World Series stand at 13/2 (about a 15% chance).
Genentech (DNA) popped 2%. ASCO studies released Thursday night showed promise for Genentech’s cancer treatments Avastin and Herceptin. – Good for them, says Pete Najarian.
Motorola (MOT) popped 3%. The Chicago-based mobile phone maker managed to close up on the week despite a downgrade of its debt from Moody's. – I think it’s expensive, says Guy Adami. Stay away.
Office Max (OMX) popped 8%. The Chicago-based office supply chain moved higher with other retailers this week. – I’m not expecting much more, says Pete Najarian.
Solarfun (SOLF) popped 45%. As oil marches towards $130 Chinese solar names are shined once again.
Chicago Record Breakers: 1) On Monday George Hood, a retired DEA officer from Aurora, Illinois made it into the Guinness Book of World Records by pedaling 176 consecutive hours on a stationary bike. 2) Seandale Prince, AKA "Rebel XD", reclaimed a record he originally set in 1992 for World's Fastest Rapper. The Guinness Book now lists his new record at 852 syllables in 42 seconds.
DROPS (stocks that slid lower)
CBS (CBS) dropped 4%. Investors didn't like the TV network's $1.8 billion purchase of tech website CNET. – I’m not a fan, says Jeff Macke.
Dillard's (DDS) dropped 4%. Goldman reiterated its "Sell" rating on the department store and slashed its earnings expectations. Shares plummeted Friday and wiped out gains for the week. – We warned you, says Karen Finerman.
Electronic Arts (ERTS) dropped 6%. Shares of the videogame maker sunk ahead of Friday's midnight deadline for Take Two to accept its $2 billion buyout offer.
Eliot Ness. Documents released earlier this year may show that it was the IRS, not the famed Chicago agent who brought gangster Al Capone down.
Cash America International (CSH) dropped 10%. The short-term loan lender will shutter 139 locations in Ohio because of new legislation that will change the terms of its loans.
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Trader disclosure: On May 16, 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); Pete Najarian Owns (AAPL), (BKC), (TSO), (XLF), (HPQ); Pete Najarian Owns (AA) Calls, (C) Calls, (MSFT) Calls; Macke Owns (MSFT), (ATVI), (DIS), (WMT), (INTC); Finerman Owns (GS); Finerman's Firm Owns (JCP), (MO), (MSFT), (NYX), (PLCE), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Owns (HD) And (HD) Puts, Finerman Owns (HD); Finerman's Firm Owns (YHOO) 1X2 Call Spreads; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm And Finerman Own Shares Of Hong Kong Stock Exchange; Finerman's Firm Owns (GLNG); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"