Pops & Drops: American Express, Dendreon...
Following are the day’s biggest winners and losers. Find out why shares of American Express and Dendreon popped while Boeing and Exxon Mobil dropped.
POPS (stocks that jumped higher)
American Express (AXP) popped 7%. A favorable article in Barron’s said the company has lots of liquidity and less risk than competitors. - Whitney Tilson likes this stock, reminds Tim Seymour.
Dendreon (DNDN) popped 16%. The drug maker is expected to present data on its cancer treatment, Provenge, at an upcoming medical conference. - That's a huge move, exclaims Pete Najarian. I'd keep an eye on it.
Wal-Mart (WMT) popped 2%. The world’s largest retailer revealed an upward trend in March same-store sales due to improved customer traffic. - This stock bounced off $50, says Jeff Macke. It's a textbook move.
Monster Worldwide (MWW) popped 12%. William Blair upgraded the company to ‘outperform’ from ‘market perform.’ - I wouldn't rush into this one, says Pete Najarian.
iShares Dow Jones US Real Estate (IYR) popped 1%. Commercial real estate names reversed earlier losses and ended the day higher.
DROPS (stocks that slid lower)
Boeing (BA) dropped 5%. The company revealed plans to cut production of its 777 jetliners and S&P said it is placing the company on watch for a ratings downgrade. - Not good for Boeing, says Karen Finerman.
Exxon Mobil (XOM) dropped 3%. The decline in the price of crude dragged down this stock as well as the overall energy sector. - I think there are more interesting names in the sector than Exxon, says Tim Seymour.
Limited Brands (LTD) dropped 4%. Citi downgraded the owner of Victoria’s Secret and Bath and Body Works to ‘hold’ from ‘buy.’ - I told you when the stock went up it would be coming down, bristles Jeff Macke.
SPX Corp (SPW) dropped 18%. The cooling-systems maker reduced its full year outlook due to poor demand. - It's feeling the brunt of the ugliness, says Pete Najarian.
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Trader disclosure: On Apr 13th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (BX), (EEM), (FXI), (F), (PBR), (TCK); Syemour's Firm Owns (RIG); Macke Owns (WFC), (AAPL), (WMT), (GS), (GE), (SDS); Najarian Owns (BX) CAll Spread; Najarian Owns (C) Call Spread; Najarian owns (GS) Call Spread; Najarian Owns (MAR) Calls; Najarian owns (PALM) Stock & Calls; Najarian Owns (RIO) Calls; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; FInerman's Firm Owns (AET), (AXP), (MSFT), (RIG), (PBR), (TBT), (UNH), (DYN); Finerman's Firm Owns (WFC) Preferred, (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (IYR), (MDY), (SPY), (USO), (BAC), (BBT), (WFC)