Pops & Drops: Yum! Brands, Piper Jaffray
Following are the day’s biggest winners and losers. Find out why shares of Yum! Brands and Piper Jaffray popped while Microsoft and Abbott Labs dropped.
POPS (stocks that jumped higher)
CSX Corp (CSX) popped 8%. Strategic cost cutting led the third-biggest railroad company to better-than-expected profits. - Until the economy comes back this stock isn't going anywhere, bristles Jeff Macke.
Yum! Brands (YUM) popped 3%. JPMorgan upgraded the owner of KFC and Taco Bell to ‘overweight’ from ‘neutral’ due to lower commodity prices and cost controls. - I think the stock goes higher, counsels Guy Adami.
Pfizer (PFE) popped 4%. Investors bid up shares as the drugmaker enters Phase 3 trials of its drug Dimebon for patients with Alzheimer’s. - Investors get excited about any drug in Phase 3, explains Pete Najarian.
Piper Jaffray (PJC) popped 18%. The Minneapolis-based investment bank reported a smaller than expected loss of 17 cents a share. - I think it's a firm to keep on your radar, says Guy Adami.
DROPS (stocks that slid lower)
Microsoft (MSFT) dropped 3%. Intel’s hazy outlook dragged down much of the sector including this technology bellwether. - It feels like Groundhog Day to me, chuckles Karen Finerman. I live this day over and over.
Abbott Labs (ABT) dropped 5%. The drug maker missed on first quarter revenues.- That hurts, exclaims Pete Najarian.
Peabody Energy (BTU) dropped 12%. First quarter profits missed analyst estimates. - Coal prices are going higher and fuel prices are going down and that's a bad combination for them, says Jeff Macke.
Starbucks (SBUX) dropped 2%. Deutsche Bank downgraded the java giant to “sell” from “hold” citing McDonald’s entry into the latte and cappuccino market.
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Trader disclosure: On Apr. 15th, 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 (WFC), (AAPL), (WMT), (GS), (GE), (SDS), (GCI); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU) ; Finerman Owns (BAC) PreferredFinerman's Firm Owns (CTX), (MSFT), (RIG), ; (PBR), (UNH); Finerman's Firm Owns (BAC) Preferred; (WFC) Preferred; Finerman's Firm Is Short (BAC), (WFC), (MDY), (SPY), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (C) Call Spread; Najarian owns (GS) Calls; Najarian Owns (INTC) Calls; Najarian Owns (JPM) Call Spread; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian owns (VAR) Call Spread; Najarian Owns (XHB) Call Spread