Pops & Drops: Humana, J.C. Penney...
By: Lee Brodie | Producer
Following are the day’s biggest winners and losers. Find out why shares of Humana and Medtronic popped while DryShips and J.C. Penney dropped.
POPS (stocks that jumped higher)
Humana (HUM) popped 7%. The health insurer was one of the biggest gainers in the S&P Tuesday after it was added to Goldman's Conviction Buy list. – This stock was a widow-maker for me, says Guy Adami. I avoid it.
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)
