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