Following are the day’s biggest winners and losers. Find out why shares of JPMorgan and Toyota popped while Dell and Caterpillar dropped.
POPS (stocks that jumped higher)
JPMorgan (JPM) popped 8%. The bank filed a countersuit after Washington Mutual accused regulators of agreeing to an unreasonably low $1.9 billion price when they arranged for the sale of banking operations to JPMorgan last year. - I think this stock could continue to run, says Tim Seymour.
MEMC Electronic Materials (WFR) popped 7%. This stock moved on speculation that BASF might bid for the firm. - There's a lot of speculation, says Pete Najarian.
CB Richard Ellis (CBG) popped 64%. The commercial real estate firm eased credit agreements with lenders and received upgrades from JPMorgan and JMP Securities. - The agreement means financing at a higher rate but at least it allows them to finance, says Tim Seymour.
Toyota (TM ) popped 4%. The car makers announced the May launch of a more fuel-efficient Prius to take on Honda’s Insight. - Good for them, says Jeff Macke.
Jabil Circuit (JBL) popped 36%. The maker of electronic components reported a second-quarter loss that was in line with previous forecasts and the company gave a more stable outlook.
China Petroleum & Chemical (SNP) popped 6%. China’s energy company revised its full year profit forecast.
SPDR Gold Trust ETF (GLD) popped 1%. Gold moved modestly higher as the dollar moved modestly lower.
DROPS (stocks that slid lower)
Dell (DELL) dropped 2%. Investors took profits in this stock after a recent run largely due to the appeal of new products. - I just don't think they're that good a company, bristles Jeff Macke.
Caterpillar (CAT) dropped 2%. The world’s largest maker of construction equipment closed lower despite the fact that for the first time in seven months durable goods orders increased. - There was a rumor that Caterpillar might need to close a plant for a short while, explains Guy Adami.
Salesforce.Com (CRM) dropped 2%. Morgan Stanley downgraded the company to “underweight” from “equal weight” citing near-term risks
Constellation Brands (STZ) dropped 5%. The world’s largest winemaker lowered its fiscal-year and 2009 earnings forecast, disappointing analysts.
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Trader disclosure: On Mar. 25th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Macke Owns (AAPL), (POT), (WMT), (MOS), (GE), (SDS); Macke Is Short (BRK.b); Seymour Owns (AAPL), (BAC), (FXI), (TTM), (AUO), (WBD); Najarian Owns (C) Call Spread;Najarian Owns (AGN) Call Spread; Najarian Owns (AAPL) Call Spread: Najarian Owns (BX) Call Spread: Najarian Owns (GD) Call Spread: Najarian Owns (MS) Call Spread: Najarian Owns (PALM) Calls; Najarian Owns (RHT) Calls; Najarian Owns (XHB) Call Spread; Najarian Owns (SWY) Calls; Najarian Owns (XLI); Najarian Owns (STX) Calls; Najarian Owns (WDC) Call Spread