Pops & Drops: McDonald's, Merck...
Following are the week’s biggest winners and losers. Find out why shares of McDonald's and Sallie Mae popped while Merck and Whole Foods dropped.
POPS (stocks that jumped higher)
McDonald's (MCD) popped 5%. The fast food company released better than expected May same-store sales data. – It’s an interesting name but it doesn’t set me on fire anymore, says Jeff Macke.
Sallie Mae (SLM) popped 8%. Sandler O'Neill initiated coverage of the company with a 'Buy' rating. – It’s a decent upgrade, adds Karen Finerman.
Freeport-McMoRan Copper & Gold Inc. (FCX) popped 6%. The mining company may be an acquisition target. – I still like this stock, says Guy Adami.
FPL Group (FPL) popped 5%. Investors like the company's wind energy prospects. – I also like this company, says Pete Najarian.
Smith & Wesson Holding (SWHC) pops 6%. Fourth quarter earnings shot past expectations by 3 cents a share. It’s a nice earnings play, says Karen Finerman.
Qualcomm (QCOM) popped 6%. Shares of the cellphone chip maker hit a new year high after the company lifted guidance for the fiscal third quarter. – I think it’s getting a little long in the tooth, says Guy Adami.
Pregnant sea dragon. Georgia Aquarium officials say the weedy sea dragon, an extremely rare creature, is pregnant for only the third time ever at a U.S. aquarium. However, don't look for the expectant mom — dads carry the eggs in this family.
DROPS (stocks that slid lower)
Merck & Co. (MRK) dropped 5%. The Pharma giant hit a two year low this week as economic concerns and rising oil prices hurt the sector. – They’re not making the right moves, adds Pete Najarian.
Whole Foods (WFMI) dropped 5%. Fears that high food costs will push consumers towards cheaper options sent this grocer lower. – Short the hippies, exclaims Jeff Macke.
Archer Daniels Midland Company (ADM) dropped 12%. Morgan Stanley downgraded the stock citing recent Midwest flooding as a drag on 2009 earnings. – Ag doesn’t work all the time, says Pete Najarian.
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Trader disclosure: On June 13, 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), (INTC), (MSFT), (DIS); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (NUE), (MSFT), (INTC), (MSFT), (DIS); Pete Najarian Owns (ANR), (BHI), (CHK), (TSO), (XLF), (HPQ); Pete Najarian Is Short (KEY); Pete Najarian Owns (BAC) Puts, (WFMI) Puts, (FITB) Puts; Pete Najarian Owns (EXM) And (EXM) Puts; Pete Najarian Owns (AAPL) And (AAPL) Puts; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NYX), (SUN), (TSO), (VLO), (PM), (MO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (BIG), (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm Is Long (AAPL) Out-Of-The Money Calls; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short The British Pound