Pops & Drops: Honeywell, DreamWorks...
Following are the day’s biggest winners and losers. Find out why shares of Honeywell and DreamWorks popped while Washington Mutual and VMware dropped.
POPS (stocks that jumped higher)
Honeywell (HON) popped 2%. B/E Aerospace is buying Honeywell’s fasteners division for $1.05 billion. – It’s an aerospace stock but gets confused with the airlines, says Tim Seymour. I like it.
Third Wave Technologies Inc. (TWTI) popped 6%. The medical diagnostic maker agreed to be acquired by Hologix for $580 million. – I expect to see more consolidation in the space, says Pete Najarian.
DreamWorks Animation SKG, Inc. (DWA) popped 5%. Kung Fu Panda's box office success gave the stock a “big kick.” – I don’t understand the appeal but it’s good for the stock, says Jeff Macke.
Mexican Gas Vacations. Arizona residents are starting to cross the border in large numbers to fill up on cheap, subsidized gas. Prices starting around $2.87 a gallon - more than a dollar less that it costs in Yuma.
Sociedad Quimica y Minera (SQM) popped 10%. "Chile's Potash" climbed higher like the rest of the agriculture names. – This stock has doubled since April, adds Tim Seymour.
ConocoPhillips (COP) popped 3%. The energy giant won a bid to drill in the Canadian Arctic. – It also popped on a Barron’s mention, adds Karen Finerman.
James River Coal Company (JRCC) popped 11%. This coal company was riding high on increased demand for coal products. You cant go wrong with coal, says Pete Najarian
Chico's (CHS) popped 2%. A Citi analyst upgrade the stock citing a steady decline in its share price and improvement in expense and inventory control. – Specialty retail is where love goes to die, exclaims Jeff Macke. Stay away.
DROPS (stocks that slid lower)
Washington Mutual (WM) dropped 17%. The mortgage lender hit a new all-time low as UBS predicted future losses for WaMu could exceed $27 billion. – I’d move on, says Karen Finerman.
VMware, Inc. (VMW) dropped 3%. Millions of employee share grants may be trading this week. – That’s the only reason the stock is under pressure, explains Pete Najarian.
National City Corporation (NCC) dropped 10%. Although the Midwest regional bank is working with regulators to solve credit issues, shares still moved lower. – Run away, exclaims Jeff Macke.
Big Brown. The triple crown hopeful didn’t deliver at Belmont, instead finishing a dead last.
TASER International, Inc. (TASR) dropped 11%. The stun gun maker slid after it lost its first product liability lawsuit. – I don’t know what that means but it sounds like a problem, says Tim Seymour.
Solar Names First Solar and SunPower both dropped more than 3%. Solar stocks got whacked today as rising raw material costs scared investors. – I think the space is still expensive, says Karen Finerman.
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 9, 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 (EMC), (ATVI), (INTC), (WMT), (MSFT), (DIS); Pete Najarian Owns (AAPL), (BKC), (TSO), (XLF), (HPQ), (AMLN); Pete Najarian Owns (AA) Calls, (GME) Calls; Pete Najarian Owns (LEH) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Seymour Owns (AAPL), (AA), (INTC), (MER), (TIE), (TSO), (F); Seygem Asset Management Owns (EEM), (HAL), (TTM), (MBT), (GAF)