Fifth Third Bancorp (FITB) popped 5%. The bank announced it will sell a majority interest in its payment-processing unit to Advent International in an effort raise more cash. - I think it's just a cushion to delay the inevitable, speculates Tim Seymour.
Netflix (NFLX) popped 6%. The DVD rental company announced it will raise prices of Blu-ray discs by about 20% in order to add to its selection of movies and keep up with costs.
Apollo Group (APOL) popped 3%. Investors bid this stock higher ahead of earnings.
DROPS (stocks that slid lower)
Alcoa (AA) dropped 14%. Rival Aluminum Corp of China posted a nearly 100% decline in 2008 profits and forecast further losses. - With the dollar going higher commodities are under pressure, explains Tim Seymour.
BB&T Corp. (BBT) dropped 8%. Stifel Nicolaus downgraded the bank to “sell” from “hold,” citing the need for more loan loss reserves. - That's right they're going to need more loan loss provisions, adds Karen Finerman.
CBS (CBS) dropped 18%. UBS downgraded the firm to “sell” from “neutral” amid concerns that ad revenue will further deteriorate, particularly from the automakers. - There could be further room to the downside, says Guy Adami.
DryShips (DRYS) dropped 16%. Auditors expressed concern about over the company’s ability to meet debt covenants. - As commodities go so goes this stock, explains Tim Seymour.
Manitowoc (MTW) dropped 33%. First-quarter earnings came in sharply below Wall Street expectations, hurt by weakening demand for its cranes. - Not good, says Pete Najarian.
Dow Jones US Real Estate ETF (IYR) dropped 5%. Investors took profits in this ETF that tracks the real estate market. - I still think there's lots of downside in commercial real estate, adds Pete Najarian.
Ameriprise Financial (AMP) dropped 9%. Fitch downgraded the firm to “negative” from “stable” partly due to “exposure” to equities. - Guy Adami doesn't know what to say.
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Trader disclosure: On Mar. 30th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Owns (MSFT), (RIG), (AXYS); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO), (BBT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (BAC), (FXI), (EEM), (TTM); Najarian Owns (AAPL) Call Spread; Najarian Owns (BNI) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (HUM) Call Spread; Najarian Owns (MS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (RIO) Calls