Pops & Drops: Dell, Boeing...
Following are the day’s biggest winners and losers. Find out why shares of Dell and Schering-Plough popped while Boeing and Children's Place dropped.
POPS (stocks that jumped higher)
Dell (DELL) popped 3%. The world's second largest PC maker jumped for no clear reason. – Goldman raised their PC forecast for ’08, explains Guy Adami. It’s a buy on a pullback.
Schering-Plough (SGP) popped 3%. They introduced a vaccine that will double a patient’s survival time with brain cancer, explains Pete Najarian. – I think it’s great for the stock.
SanDisk (SNDK) popped 6%. The chipmaker introduced a line of flash drives for ultra-low cost PCs. – It’s rocking, says Pete Najarian.
Tiger Woods The golfing legend topped Sports Illustrated list of the best paid athletes for the 5th year in a row, taking home $128 million in 2007.
Garmin (GRMN) popped 5%. The GPS navigation company rose for no clear reason. – They presented at an Oppenheimer conference, says Karen Finerman. They must have done a nice job.
T. Rowe Price (TROW) popped 2%. Goldman Sachs raised its estimates on asset managers.
Running Out Of Gas. With the national average near $4 per gallon motorists are waiting longer and longer in-between filling-up. This has lead to a spike in the number of drivers getting stranded on the highway with an empty tank. There are even some cases of drivers intentionally running the gauge to zero just to secure a free tank from the Highway Patrol.
NCI Building Systems (NCS) popped 11%. The manufacturer of metal building components more than doubled its profits.
Mr. Bill. The clay figure often pulverized on Saturday Night Live in the 1970s is being revived once again to star in the latest versions of MasterCard's "Priceless" ad campaign.
DROPS (stocks that slid lower)
Boeing (BA) dropped 4%. A negative court ruling against a company acquired by Boeing will leave the airplane maker liable for the settlement. – I’m not that excited about this stock, says Jeff Macke.
Children's Place (PLCE) dropped 3%. The children's retailer fell sharply ahead of Thursday's release of May comps figures. – I’d buy it back under $30, says Karen Finerman.
Dollar Menu. Under pressure from increasing commodity prices and rising minimum wages some McDonald franchise owners are revolting against the popular "Dollar Menu," according to Ad Age.
Lululemon (LULU) dropped 6%. The yoga-wear company's full year earnings outlook was below a previous forecast. – I’m not thrilled, says Jeff Macke.
MasterCard (MA) dropped 4%. The credit card company approved a 15-cent dividend. – I think this stock is top heavy, says Guy Adami. I like it at $300.
Sherwin Williams (SHW) dropped 2%. The paint company cut its full-year forecast citing a continued housing slowdown.
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Trader disclosure: On June 3, 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 (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (INTC), (MSFT), (WMT); Najarian Owns (HK), (AAPL), (BHI), (HD), (TSO), (XLF), (XTO); Najarian Owns (LEH) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns (AET), (AAPL), (MO), (MSFT), (SUN), (TSO), (VLO)’ Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM)