Following are the week’s biggest winners and losers. Find out why shares of Regions Financial and US Steel popped while Microsoft and Burger King dropped.
POPS (stocks that jumped higher)
Regions Financial (RF) popped 67%. The bank surprised investors with good news Thursday; it said it expects to report a profit for the first quarter when most analysts had predicted a significant loss. - I'd be very careful of this stock from this point forward, says Pete Najarian.
US Steel (X) popped 15%. Investors bid the stock higher despite S&P’s decision to put the company on a negative credit rating watch. - The beat goes on, says Tim Seymour.
Proctor & Gamble (PG) popped 5%. The consumer goods company raised its quarterly dividend by 10%. - If you're looking for real juice go elsewhere, says Zach Karabell.
Simon Property Group (SPG) popped 15%. This REIT made gains after rival General Growth announced plans to restructure under bankruptcy protection. - SPG also made the Conviction Buy list at Goldman, adds Pete Najarian.
Vodafone Group (VOD) popped 7%. Cost cutting measures provided analysts with hope for the company's earnings. - I think it's an interesting play, says Tim Seymour.
American Express (AXP) popped 16%. The credit card company posted better-than-expected earnings and said the ability of its cardholders to pay their credit card bills could be stabilizing. - The market liked the credit card news, explains Joe Terranova.
DROPS (stocks that slid lower)
Microsoft (MSFT) dropped 3%. Investors turned a cold shoulder to Mr. Softee after Intel cited slowing computer demand for its profit plunge. - I'd sit this one out until earnings are released, says Joe Terranova.
Burger King (BKC) dropped 22%. The burger chain reported worse than expected third-quarter sales. - Most of their rivals are performing, reminds Pete Najarian. That's no good.
Rio Tinto (RTP) popped 4%. The mining company said it sees signs of recovery in copper going forward.
Exxon Mobil (XOM) dropped 3%. Analysts expect this and other energy companies to post weak earnings due to low crude prices.
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Trader disclosure: On Apr 17th, 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), (EEM), (FCX), (GE), (RIG), (TCK); Karabell Owns (AAPL), (CSCO), (CAT), (FCX), (FXI), (FIC), (GOOG), (JPM); Najarian Owns (BX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MCD) & (MCD) Calls; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian owns (VAR) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Terranova Owns (AMGN), (DELL), (IBM), (BP), (MS); Terranova Owns (X) & (X) Calls; Terranova Owns (DIS) Calls; Terranova Owns (COP) Calls; Terranova Owns (HES) & (HES) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (INTC) & (INTC) Calls; Terranova Owns (XOM) & (XOM) Calls; Terranova Owns (WYNN) & (WYNN) Calls