Pops & Drops: Amazon, Campbell's...
Following are the day’s biggest winners and losers. Find out why shares of Amazon and Golar LNG popped while Campbell’s and Manitowoc dropped.
POPS (stocks that jumped higher)
Amazon.com (AMZN) popped 8%. Goldman Sachs added Amazon to its Conviction Buy List saying it expects the internet retailer to post 20% annual sales growth for the next 5 to 10 years. – At 50 times earnings I’m not sure, says Karen Finerman.
Sea Island Weekend Getaway. CNBC.com's Million Dollar Portfolio Challenge continues - and although we're still more than two months away from the big cash payout, you can win a prize every week. This time, you've got a shot at a vacation for two to a butler-service suite at the Cloister Hotel at Georgia's Sea Island.
Golar LNG (GLNG) popped 4%. The liquid natural gas firm spiked despite a decline in nat gas prices. – I couldn’t tell you why it was up Monday but I’m long, says Karen Finerman.
DISH Network (DISH) popped 3%. The satellite TV company showed off a new device, called the SlingModem, which allows subscribers to watch pay-cable programming from anywhere they have an internet connection. – That device looks cool, exclaims Jeff Macke.
Pacific Ethanol (PEIX) popped 61%. After it posted a smaller than expected loss this alternative energy moved considerably higher. Before Monday, shares of PEIX were down more than 60% year to date. – That’s a pop, exclaims Pete Najarian.
SunTrust Banks (STI) popped 1%. Pete is seeing options action in this regional bank. – Options investors are gobbling up the June 65 calls, he explains.
DROPS (stocks that slid lower)
Campbell Soup Company (CPB) dropped 6%. The soup stock closed down after surging input prices and lost market share to Progresso resulted in an earnings miss. – Once market share is lost it’s hard to get back, says Jeff Macke.
BCE Corp. (BCE) dropped 6%. The group that agreed to buy this Canadian telecom in June '07 is now trying to renegotiate the terms of the deal. – I think it will keep falling, says Pete Najarian.
Manitowoc (MTW) dropped 4%. The Enodis saga continues with shares of MTW lower again after it topped Illinois Tool Works bid for the food service equipment maker. – Wait for the saga to play itself out, says Guy Adami.
Perfect World Co. (PWRD) dropped 13%. The Chinese online game developer said it expected second-quarter revenue to be impacted by the suspension of its game services during China's 3-day earthquake mourning period.
NYC Subway Cars. 44 retired New York City Subway cars are were dropped off the coast of Maryland to create an artificial reef which attracts fish and other marine life. The MTA has made more than 1600 subway cars available for reef-building all along the eastern seaboard.
Apple (AAPL) dropped 2%. The iPhone maker slid mid-afternoon as tech tanked on the SanDisk warning. – Two pecent? That’s hardly a drop, says Karen Finerman with disgust.
Royal Bank of Scotland (RBS) dropped 5%. Warren Buffett said he was no longer interested in bidding for RBS's insurance arm.
DeVry (DV) dropped 4%. The for-profit institution of higher learning has received an inquiry from the Justice Department over its recruiting methods.
Lifelock CEO. Todd Davis, the CEO of identity protection firm LifeLock, is often seen in ads volunteering his own Social Security number - challenging would-be information thieves to steal his identity. Well, apparently some of them have taken him up on the offer. A lawsuit filed by a dissatisfied customer in West Virginia states that more than 20 drivers' licenses have been fraudulently obtained using Davis' information. This most recent case follows similar suits in New Jersey and Maryland.
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Trader disclosure: On May 19, 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), (AGU), (BTU), (NUE); Najarian Owns (AAPL), (TSO), (XLF); Najarian Owns (TE) Calls; Macke Owns (DIS), (INTC), (ATVI), (EMC); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD) And (HD) Puts; Finerman's Firm Owns (GLNG), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM)