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Pop & Drop

Following are the day’s biggest winners and losers. Find out why shares of Toyota and Corning popped while Apollo Group and Danaher dropped.

POPS (stocks that jumped higher)

Toyota Motors (TM ) popped 7%. The Japanese automaker climbed on published reports suggesting GM and Chrysler were taking a serious look at going into bankruptcy protection. - I'd stay away, says Jeff Macke.

Corning (GLW) popped 6%. The maker of glass panels for LCD TV’s popped after a positive note from Bernstein, citing improved LCD inventory levels. - I think it's a buy on a pullback, says Guy Adami.

American Express (AXP) popped 7%. The credit card company was the top performer in the Dow Wednesday with the entire financial sector making gains. - They could get some traction from the TALF, muses Karen Finerman.

Limited Brands (LTD) popped 5%. Investors liked the looks of this firm, the owner of Victoria’s Secret. - The retailers have been surprisingly resilient, muses Jeff Macke.

Vodafone (VOD) popped 7%. Goldman added the firm to its “conviction buy” list and Morgan Stanley upgraded it to “overweight” from “equal weight.”

AK Steel (AKS) popped 9%. The steelmaker climbed despite a bleak outlook from Morgan Stanley who said steel prices will probably fall 19% more than previous forecast.

Ashland (ASH) popped 7%. JPMorgan upgraded the firm to “overweight” from “neutral,” citing likely increased cash flows and earnings strength.

Saks (SKS) popped 13%. Investors liked a Wall Street Journal report that said the department hoped to gain back sales by offering lower cost products.

DROPS (stocks that slid lower)

Stryker Corp (SYK) dropped 3%. The FDA rejected approval of the company’s spinal “putty” bone-growth product for expanded use. - If the FDA rules against you, that's going to hurt everytime, says Pete Najarian.

Apollo Group (APOL) dropped 15%. Baird downgraded the company due to concerns about their 2010 earnings. - I think it looks cheap here, says Guy Adami, but it could have another day on the downside.

Danaher (DHR) dropped 3%. JP Morgan downgraded this tool maker to “neutral” from “overweight.” - Not a bad place to be if you're bullish on industrials, says Karen Finerman.

Aflac (AFL) dropped 3%. The largest seller of supplemental insurance fell on a debt downgrade at S&P.

Pops & Drops
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Trader disclosure: On Apr 1st, 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 (GS), (GE), (FAS), (WMT), (AAPL), (MOS); Macke Is Short (BRK.b): Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU): Finerman Owns (RIO): Finerman's Firm Owns (MSFT), (RIO): Finerman's Firm Is Short (IJR), (MDY), (SPY), (USO), (IWM), (BAC), (BBT), (WFC): Finerman's Firm Owns (BAC) Preferred: Finerman Owns (BAC) Preferred: Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (BWA); Finerman's Firm Owns (TDC); Najarian Owns (AAPL) Call Spread; Najarian Owns (BNI) Call Spread; Najarian Owns (C) Call Spread; Najarian Owns (FAS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (RIO) Calls; Najaria Owns (SWY) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (CREE) Calls

© 2009 CNBC.com

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