Pops & Drops: SunPower, J.C. Penney
Following are the day’s biggest winners and losers. Find out why shares of SunPower and Davita popped while Marriot and J.C. Penney dropped.
POPS (stocks that jumped higher)
SunPower (SPWR) popped 14%. The solar products and services company will build 2 solar power plants for Florida Power & Light. – I like it, says Pete Najarian.
The Shaw Group (SGR) popped 10%. Third-quarter earnings beat Wall Street estimates. – They have a backlog of $16 billion, adds Pete Najarian.
Davita (DVA) popped 7%. The dialysis center provider climbed for no clear reason. – If you own this stock take some profits, says Karen Finerman. It used to be undervalued but not anymore.
Excel Technology (XLTC) popped 36%. The GSI Group announced it will buy Excel for $32 a share
Pilgrim's Pride (PPC) popped 13%. BMO Capital Markets upgraded the company to 'Outperform' from 'Market Perform.'
Children's Place (PLCE) popped 3%. The children's clothing retailer said June same-store sales beat Wall Street expectations.
DROPS (stocks that slid lower)
Marriot International (MAR) dropped 7%. The hotel operator announced second-quarter earnings dropped 24% due to a decline in travel. – The economy is not their friend, says Guy Adami.
J.C. Penney Company (JCP) dropped 10%. The department store said June same-store sales slid 2.4%. – Department stores aren’t doing so well right now, says Karen Finerman.
NYSE Euronext (NYX) dropped 2%. The big board lost ground due to investor concerns that a weaker economy means investors will trade less. – Everything seems to be going right except the stock price, says Guy Adami.
IntercontinentalExchange (ICE) dropped 11%. Legislators questioned whether commodities regulators have enough control over futures markets. – I wouldn’t touch exchanges for as long as the government wants to get into their business, says Jeff Macke.
Cox Radio (CXR) dropped 9%. Citi downgraded the broadcaster to 'Sell' from 'Hold,' citing increased near-term downside risk. – Interesting, says Guy Adami.
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