Pops & Drops: Home Depot, Anheuser-Busch...
Following are the day’s biggest winners and losers. Find out why shares of Home Depot and Anheuser-Busch popped while Smithfield Foods and Vail Resorts dropped.
POPS (stocks that jumped higher)
Home Depot (HD) popped 3%. The home improvement retailer sees double-digit EPS growth in the future but did not specify a timeframe. – I like it and own this stock, says Karen Finerman.
Anheuser-Busch (BUD) popped 2%. Bud shareholders said $65/share would be a fair price, should InBev continue its takeover effort. – It’s a good story, says Jeff Macke.
Nvidia (NVDA) popped 3%. Goldman Sachs upgraded the graphics chip maker to "Buy" from "Neutral." – It’s worth watching, says Guy Adami.
Monsanto (MON) popped 5%. The seed company's CEO set a goal to develop strands of corn and soybeans that double yields by 2030. – Morgan Stanley raised estimates, adds Pete Najarian.
Growing your own food. Soaring prices for food both at restaurants and supermarkets have many shoppers turning to the backyard, according to The Wall Street Journal. One survey showed that spending on vegetable plants and seeds jumped 21% in 2007 compared with a year earlier.
Collective Brands (PSS) popped 14%. The owner of Payless and Stride Rite posted better than expected earnings.
Level 3 Communications (LVLT) popped 13%. Verizon's takeover of Alltell spiked smaller telecom shares. – I see further room on the upside, says Guy Adami.
Amazon.com (AMZN) popped 4%. In addition to strong runs in both tech and retail, JetBlue announced Thursday that its passengers can now access Amazon's store on their in-flight WiFi. – I’m not sure what to say, says Karen Finerman, JetBlue cut capacity.
Tercica (TRCA) popped 100%. French drugmaker Ipsen agreed to buy the remaining portion of this diabetes drug company it didn't already own. – Up 100% in one day; that goes to show the power of biotech, says Guy Adami.
Sasquatch. "Field & Stream" and binocular-maker Bushnell are offering a $1 million dollar prize to anyone who can provide photographic evidence that a Sasquatch / Big Foot exists. However, the contests' fine print states that the magazine isn't liable for any injury incurred during a Bigfoot attack.
DROPS (stocks that slid lower)
Smithfield Foods (SFD) dropped 6%. Higher costs for pork-feed sent profits on a 94% tumble at this meat processing company. – It’s a tough business in a tough time, says Jeff Macke.
Regeneron Pharmaceuticals (REGN) dropped 20%. The biotech received two downgrades after a failed trial of its ovarian cancer drug. – Biotechs live and die by the FDA, explains Pete Najarian.
Jackson Hewitt Tax Service (JTX) dropped 6%. The tax preparer withdrew all previous guidance and forecasts. – That’s never good news, says Jeff Macke.
Vail Resorts (MTN) dropped 5%. Although the vacation destination reported an 11% increase in net profits, the gain fell short of analysts’ estimates. – I’m not surprised, says Pete Najarian. Fewer people can afford to vacation.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On June 5, 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 (ATVI), (MSFT), (WMT), (INTC); Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (EXM), (HPQ), (AAPL), (BHI), (CHK), (HD), (TSO), (XTO), (XLF); Najarian Owns (LEH) Puts; Najariain Owns (NUE) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm And Finerman Own (C), (C) Leaps; Finerman's Firm Owns (MO), (PM), (JCG), (AAPL), (AEO), (MSFT), (NYX), (SUN), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)
Charles Schwab Is A Sponsor Of "Fast Money"