Pops & Drops: Home Depot, Exxon...
Following are the day’s biggest winners and losers. Find out why shares of CME Group and Exxon Mobil popped while Energy Conversion Devices and Nucor dropped.
POPS (stocks that jumped higher)
Exxon Mobil (XOM) popped 3%. The oil behemoth moved in the same direction as the spot price of crude. - If you're long oil futures, I'd move into the integrated names, says Joe Terranova.
Home Depot (HD) popped 6%. Jeffries upgraded the company to ‘Buy’ from ‘Hold' due to a gain in market share. - I wouldn't chase this stock but I think it goes to $24, says Guy Adami.
Wal-Mart (WMT) popped 2%. A report suggesting the battered housing market might be reaching a bottom lifted retail shares, broadly. - It's the only retailer for me, says Jeff Macke.
AT&T (T) popped 4%. Strength throughout telecom propelled shares higher despite negative comments from S&P. - It got swept along by sentiment, says Pete Najarian.
CME Group (CME) popped 13%. The exchange secured backers for its new credit default swap clearinghouse. - I think this is a stock to be looking at, says Joe Terranova.
International Paper (IP) popped 15%. JPMorgan said the company could benefit from alternative fuel tax credits.
Kohl’s (KSS) popped 6%. Jeffries upgraded the department store to ‘Buy’ from ‘Hold' and said the company may report stronger-than-expected sales.
Strayer Education (STRA) popped 7%. Piper Jaffray upgraded this stock, citing strong enrollment.
Advanced Micro Devices (AMD) popped 11%. The firm has completed a spin-off intended to transform it into a more nimble competitor.
DROPS (stocks that slid lower)
Energy Conversion Devices (ENER) dropped 23%. The firm lowered its sale forecast due to waning demand and it also delayed plans for expansion.
Nucor (NUE) dropped 9%. The steelmaker warned of a first-quarter loss due to continued weak demand.
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Trader disclosure: On Mar. 17th, 2009, 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 (GE), (GS), (MS), (MOS), (AAPL); Macke Is Short (BRK.b); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU) ; Terranova Owns (MA), (AAPL), (RIG), (CVX), (GS), (AMZN), (BP), (KCE), (JPM), (X), (POT), (WYNN), (XBI), (HESS), (INTC), (BRCM), (DELL), (JOYG), (FXC), (MS), (XOM); Terranova Owns (AMGN) & (AMGN) Puts; Terranova Owns (IBM) Spread; Terranova Owns (DIS) & (DIS) Calls; Terranova Owns (COP) Calls; Terranova Owns MACI Oil Futures; Najarian Owns (GDX); Najarian Owns (C) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (GD) Call Spread; Najarian Owns (X) Call Spread; Najarian Owns (GLD) Put Spread; Najarian Owns (JPM) & (JPM) Calls; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (WFC) & (WFC) Puts; Najarian Owns (XHB) Call Spread; Najarian Owns (XLI) Calls