Pops & Drops: Wendy's, Under Armour...
Following are the day’s biggest winners and losers. Find out why shares of Wendy's and Dell popped while Moody's and Under Armour dropped.
POPS (stocks that jumped higher)
Wendy's (WEN) popped 6%. Bill Ackman says the fast food chain could be worth $42/share if it sells stores and real estate. Shares closed today at $29.73. – I’d stay away, says Jeff Macke.
WellPoint (WLP) popped 3%. The health benefits firm generated interesting options action Thursday. – I expect it to go higher and I’m long, says Jon Najarian.
Dell (DELL) popped 4%. The PC maker achieved solid gains throughout the session. – Interesting, says Guy Adami.
Brooklyn Bridge. On this day 125 years ago the Brooklyn Bridge opened, instantly becoming one of the nation's most iconic suspension bridges. When it was completed in 1883, it cost $15 million and took almost 13 years to construct. The 6,000 foot span still carries 126,000 cars between Manhattan and Brooklyn each day.
Salesforce.com (CRM) popped 6%. Jefferies upgraded shares of salesforce.com to "Buy" from "Hold" following the company's first quarter results. – Some analysts have targets in the $80’s, explains Jon Najarian.
Taser (TASR) popped 1%. The stun gun maker said it received orders from 4 agencies in Australia, Hawaii, Kentucky and Texas. – Don’t mess with Texas, jokes Guy Adami.
American Dream. Donny Deutsche, the host of CNBC's The Big Idea is showing you how to turn a simple solution into your own "American Dream." It's a full hour special event "There's Gotta Be A Better Way" airing Thursday at 10p/1a ET.
Children's Place (PLCE) popped 16%. Earnings showed that shedding the Disney Store franchise this quarter had a positive impact on the bottom line.
Ternium (TX) popped 6%. The Lat Am steel name received an upgrade from Goldman Sachs. – I think it looks like a buy, says Tim Seymour.
DROPS (stocks that slid lower)
Jackson Hewitt Tax Services (JTX) dropped 10%. The tax preparer reported a lower annual profit because it handled fewer returns.
Moody's (MCO) dropped 7%. The ratings agency fell for the second day after disclosing a computer glitch may have improperly rated securities "AAA." Even Warren Buffett chimed in, saying Moody's should fire employees responsible for the mistake.
BCE (BCE) dropped 13%. Shares of the Canadian telecom dropped on concerns that a court decision could put an end to its buyout. – But not bad news for the rest of the loan market, adds Tim Seymour.
Under Armour (UA) dropped 9%. Thomas Weisel Partners analyst Jim Duffy said the weak sporting-goods environment could make it difficult for the athletic apparel and footwear maker to reach its guidance.
Akamai (AKAM) dropped 7%. Goldman Sachs downgraded the company to “sell” from “neutral” on concerns that increased competition could hurt the networking name, which provides the backbone for internet video downloads.
Rite Aid (RAD) dropped 12%. The pharmacy issued $150 million in convertible bonds.
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Trader disclosure: On May 22, 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), (AGU), (NUE), (BTU), (INTC), (MSFT); Macke Owns (ATVI), (MSFT), (DIS), (INTC), (WMT); Jon Najarian Owns (AAPL), (AMR), (BHI), (BNI), (C), (CRM), (FRO), (WMT). (WLP), (FTEK); Jon Najarian Is Short (DBC), (DKS); Seymour Owns (AAPL), (CSCO), (F), (INTC), (MER), (MS), (TSO)