Pops & Drops: Expedia, Borders...
Following are the day’s biggest winners and losers. Find out why shares of Expedia and Countrywide Financial popped while Anheuser Busch and Borders dropped.
POPS (stocks that jumped higher)
Expedia (EXPE) popped 5%. Despite Barry Diller's denying rumors that IAC would try to take the travel site private, shares still popped. – Option action suggests this stock could move higher, reveals Pete Najarian.
Shaw Group (SGR) popped 6%. The engineering firm won a contract to build a nuclear power station in South Carolina. – The plants won’t be completed until 2016, adds Guy Adami.
Countrywide Financial (CFC) popped 9%. The home lender's President, David Sambol, said he would not stay on with the company after the Bank of America takeover is complete. – Not interested, says Karen Finerman.
Akamai (AKAM) popped 5%. Borders announced Akamai would provide the backbone for its new retail website. – This could be interesting, says Pete Najarian.
Taser. A man who had jumped in a freezing cold lake to evade police had contracted an irregular heart rhythm from shock. Yet after trying to escape again, this time from the hospital in which he was being treated, police officers tased him - miraculously setting his heart rhythm back to normal.
Darling International (DAR) popped 5%. This meat and bone processor is going to be added to the S&P Smallcap 600. – I think it’s a sell, says Jeff Macke.
Daktronics (DAKT) popped 12%. Billboard sales and international demand sent profits at this electronic sign company to $5.7 million from $3.5 million a year ago. – Take profits, counsels Guy Adami.
Smurfit-Stone Container Corp. (SSCC) popped 10%. The packaging company exploded higher on no news.- I think it’s because a competitor is rumored to be raising prices, explains Karen Finerman.
DryShips (DRYS) popped 10%. The shipper gained back some ground after losing more than 20% in two weeks.
Chico's (CHS) popped 14%. The women's retailer beat estimates on revenue and EPS.
DROPS (stocks that slid lower)
Anheuser Busch (BUD) dropped 3%. Doubts about a takeover by Belgium's InBev gained momentum after a WSJ article cited cultural differences and political backlash. – I think the excitement has died down, says Karen Finerman.
Borders Group (BGP) dropped 7%. The bookstore's first quarter loss was greater than analysts had hoped it would be.- I said this was a "sell" last week, reminds Jeff Macke.
Biggest Drop A retired French Army officer's plan to make "The Biggest Drop" ever was thwarted for the third time. Michel Fournier had hoped to take a giant helium balloon 25 miles into the air and parachute down, setting the record for fastest and longest freefall. However a technical glitch caused the massive balloon to inflate and take off, leaving Fournier behind on the ground. Two previous attempts had failed as well.
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Trader disclosure: On May 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (WMT), (MSFT); Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (NUE), (BTU); Najarian Owns (AAPL), (BHI), (BUD), (TSO), (XLF), (HPQ), (ANR), (ENER); Najariain Owns (EXPE) Calls; Najarian Owns (BAC) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (MSFT), (RL), (SUN), (TSO), (VLO), (WLP); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (BBT)