Medtronic (MDT) popped 2%. Defibrillator and stent sales spiked revenue figures for the quarter. – Impressive, says Pete Najarian.
Natural Gas ETF (UNG) popped 4%. Oil's spike brought natural gas along for the ride. – I expect nat gas to spike further, says Joe Terranova.
Pacific Ethanol (PEIX) popped 10%. Yesterday's earnings set off a 60% pop in one day - and the ethanol name added to its gains today.- I’m not an ethanol fan, says Jeff Macke.
Jon Lester. The Red Sox left-hander became the first pitcher to throw a no-hitter this season, leading to a 7-0 win over the Kansas City Royals. The 24-year-old missed the end of the 2006 season after being diagnosed with a rare form of cancer.
DROPS (stocks that slid lower)
DryShips (DRYS) dropped 5%. Investors took gains in this dry bulk shipping name after it reported first quarter profits more than doubled. – It’s a buy on the pullback, says Pete Najarian.
J.C. Penney (JCP) dropped 4%. Disappointing news out of Home Depot and Target dragged down other retailers.- Avoid this stock, counsels Jeff Macke.
UAL Corp. (UAUA) dropped 7%. Record oil prices knocked airline shares lower. To make matters worse, United was the second-lowest ranked company in the American Customer Satisfaction Index, released Tuesday. – That’s bad news, muses Joe Terranova.
Dell (DELL) dropped 3%. Donald J. Carty, the PC maker's CFO who was hired just a year and a half ago announced he was stepping down to be replaced by a GE exec.- I’m not looking for any trends to reverse, says Jeff Macke.
General Motors (GM) dropped 5%. A KeyBanc analyst cut his earnings estimate on the automaker just as GM announced it will increase production capacity at other plants to pick up slack caused by a Kansas factory strike. – Guy Adami doesn’t know what to say.
MF Global (MF) dropped 6%. The derivatives broker reported a $71 million loss and said it would sell a $300 million stake to J.C. Flowers to pay down debt. – They’re probably just happy to get through the quarter, says Pete Najarian.
Saks (SKS) dropped 7%. Discounted women's apparel hit profits at the upscale department store. The CEO said that consumers were acting as if they were in a recession whether there is one technically or not. – Not good, says Joe Terranova.
Donkeys. Mexican officials have jailed a donkey that kicked two men at a ranch in Chiapas putting it in a cell usually reserved for perpetrators of public drunkeness. Said the officer who imprisoned the burro: "Around here, if someone commits a crime they are jailed no matter who they are." The donkey will be set free once its owner pays for the injured party’s medical bills estimated to be $420.
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Trader disclosure: On May 20, 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 (NUE), (BTU),(MSFT),(INTC),(C ), (GS), (AGU); Najarian Owns (AAPL), (NOK), (DRYS), (HPQ), (XLF) Puts; Macke Owns (INTC), (HAS), (DIS), (WMT), (MSFT); Terranova Owns (SUN), (FXC), (GS), Crude; Terranova Is Short (HES), (WYNN)