Pops & Drops: Wal-Mart, Wachovia...
Following are the week’s biggest winners and losers. Find out why shares of Wal-Mart and National Semiconductor popped while Wachovia and AT&T dropped.
POPS (stocks that jumped higher)
Wal-Mart (WMT) popped 1%. Strong May sales and Friday's annual meeting pushed the world's biggest retailer into the green for the week. – I think they’re delivering exactly what the consumer needs, says Karen Finerman.
National Semiconductor (NSM) popped 14%. The maker of chips for the iPhone posted a smaller than expected drop in quarterly profit. – I think it goes higher, says Guy Adami.
Private Island Vacations. If you've had enough of this market and are wonderfully rich your summer getaway spot isn't in the Hamptons: instead, the super-rich are flocking to private islands. Destinations like Richard Branson's Neccar island, which costs $50,000 per night, are already booked a year in advance. For more on these ultimate vacation spots, check out High Net Worth at 8:30pm and 11:30pm Friday on CNBC.
Advanced Micro Devices (AMD) popped 9%. The company's new line of laptop chips are aimed at stealing market share from Intel.
DROPS (stocks that slid lower)
Wachovia (WB) dropped 15%. The super-regional bank replaced CEO Ken Thompson this week. – I’d avoid this stock, says Jeff Macke.
AT&T (T) dropped 4%. Verizon's purchase of Alltel will make it the largest wireless provider knocking 'Ma Bell into second place. – It’s a buy on the dip, exclaims Pete Najarian.
Big Lots (BIG) dropped 2%. We noticed frenzied insider selling at this discount chain. – I wonder what they know, speculates Karen Finerman.
Boeing (BA) dropped 12%. Word that Continental and United were cutting their fleets sent the airplane maker south. – Their backlogs could be diminishing, says Jeff macke.
Bank of America (BAC) dropped 10%. The Fed approved BAC's purchase of beleaguered mortgage lender Countrywide Financial. – I don’t love this stock, says Guy Adami.
Marriott (MAR) dropped 9%. The hotel chain started the week off by lowering its forecast and it was all downhill from there.
TiVo (TIVO) dropped 12%. News of Dish Network and Echostar's lawsuit against DVR maker Tivo sent shares tumbling this week.
CSX Corp. (CSX) dropped 5%. A UBS downgrade hurt this top railroad performer. Analysts fear a possible sector pullback.
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