Pops & Drops: Quicksliver, TiVo...
Following are the day’s biggest winners and losers. Find out why shares of Quicksilver and Jabil Circuit popped while TiVo and Marriott dropped.
POPS (stocks that jumped higher)
Quicksilver (ZQK) popped 7%. The board shorts company rose sharply ahead of earnings, after a Morgan Keegan analyst pointed out that 75% of the company's profits come from abroad. – I was fast fired for this stock Friday, says Guy Adami, and I said to stay with it. I think it’s okay to own.
Jabil Circuit (JBL) popped 9%. Raymond James upgraded the electronics manufacturing name to "Strong Buy" and gave it an $18 price target. – I like this stock, says Jon Najarian.
Bill Cosby's sweaters. The comedian is auctioning off his legendary 80s-patterned sweaters featured on "The Cosby Show" for charity on eBay. The bidding begins at $5,000 a pop.
Thong bandits. Two crooks used an unusual disguise this weekend while robbing a Colorado gas station. They wore women's thongs over their heads as if they were ski masks. The skimpy undergarments didn't do much to conceal the identity of the thieves, leaving most each man's face exposed.
DROPS (stocks that slid lower)
TiVo (TIVO) dropped 9%. Dish Network and Echostar filed a lawsuit against TiVo for making public statements alleging that the latest DVR technology developed by the satellite companies infringes upon TiVo patents. – This is my heartbreak stock, says Jeff Macke.
Marriott (MAR) dropped 2%. The hotel chain's "Revpar" (revenue per available room) was below a previous forecast on lower U.S. demand. – Disappointing, says Karen Finerman.
Lion's Gate Entertainment (LGF) dropped 8%. The company behind the "Saw" film franchise posted a larger-than-expected annual loss. –Guy Adami doesn’t know what to say.
UAL Corp. (UAUA) dropped 8%. The airline's CEO said the company will not pursue a merger with US Air. – Stay away, says Jon Najarian.
Warner Music Group (WMG) dropped 9%. The music publishing home of Missy Elliott and the Red Hot Chili Peppers was downgraded to "Underperform" by Merrill Lynch. – I don’t like this stock, says Jeff Macke.
Berkshire Hathaway (BRK) dropped 2%. Even Warren Buffett's Berkshire Hathaway was pulled down by the financial sector’s fallout Monday afternoon. – If there was ever a stock not to judge on one day’s performance it’s this one, says Karen Finerman.
Bank of Ireland (IRE) dropped 7%. UK financials have been falling on evidence of a housing slump in Britain. – I have concerns about this stock, says Jeff Macke.
Corinthian College (COCO) dropped 3%. The for-profit institution of higher learning sank on word that major banks had stopped offering student loans for 2-year colleges.
Harris Corp. (HRS) dropped 16%. Shares tanked after the CEO of the military communication company said they were not for sale.
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Trader disclosure: On June 2, 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), (DIS), (MSFT), (WMT); Adami Owns (C), (AGU), (BTU), (NUE), (GS), (INTC), (MSFT); Finerman Owns (GS), (AAPL); Finerman's Firm Owns (GE), (MSFT), (NYX), (SBUX), (SUN), (TSO), (VLO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Jon Najarian Owns A Call Spread In (HOC), (MEE), (SBUX), (TSO), (VLO), (AAPL), (COP), (FTO); Jon Najarian Owns (ACI) Call Spreads And Calls; Jon Najarian Owns (ANR) Calls Spreads And Calls; Jon Najarian Owns (C) Preferred Shares; Jon Najarian Owns (KEY) Puts, (LEH) Puts; Jon Najarian Owns (SNM); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC