Pops & Drops: Starbucks, Dell...
Following are the day’s biggest winners and losers. Find out why shares of Dendreon and Saks popped while Allergan and Pepsico dropped.
POPS (stocks that jumped higher)
Dendreon (DNDN) popped 9%. A Lazard Capital analyst upgraded shares on the sales potential for the prostate cancer drug Provenge. - That's a big pop, exclaims Pete Najarian.
Saks (SKS) popped 3%. JPMorgan upgraded the stock to ‘overweight’ from ‘neutral’ citing overly bearish sentiment.
Cox Radio (CXR) popped 2%. Cox Enterprises said it is extending a tender offer to buy the rest of Cox Radio Inc.'s publicly held shares it does not already own.
DROPS (stocks that slid lower)
Allergan (AGN) dropped 5%. In this economy, what’s a few wrinkles; investors bid the maker of Botox lower. - There was also takeover chatter that didn't pan out, adds Guy Adami.
Pepsico (PEP) dropped 4%. The softdrink maker proposed buying the outstanding shares it does not own in its two largest bottlers, Pepsi Bottling Group (PBG) and PepsiAmericas (PAS), in a $6 billion cash and stock deal. - Interesting, muses Karen Finerman.
U.S. Steel (X) dropped 11%. S&P put the company on a negative creditwatch and said steel prices may not improve this year. - I think that's a reason to get long, adds Joe Terranova.
Starbucks (SBUX) dropped 6%. Nothing percolating here, partly due to downgrades by UBS and Deutsche Bank over the past week. - Around $11 I think this stock gets interesting, counsels Pete Najarian.
Dell (DELL) dropped 7%. Investors turned bearish on this stock, perhaps because Oracle announced a deal to buy Sun Microsystems, allowing the company to compete in hardware as well as software. - I've been so wrong on this stock I just want to move on, sighs Guy Adami.
Lennar (LEN) dropped 19%. The homebuilder said it may sell as much $275 million in common stock.- They also have to roll debt, adds Joe Terranova.
Textron (TXT) dropped 16%. Investors grew skeptical that last week’s speculation of a takeover was just that – speculation.
Huntington Bancshares (HBAN) dropped 20%. Investors bid this stock significantly lower ahead of earnings Tuesday.
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Trader disclosure: On Apr 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;Najarian Owns (CX) Call Spread; Najairan Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (PALM) And Is Short (PALM) Calls; Najarian Owns A (YHOO) Call Spread; Najarian Owns (RF) Call Spread; Najarian Owns (PCU) Call Spread; Najarian Owns (AMLN) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman Owns (AXP); Finerman's Firm Owns (PBR), (CSCO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (USO); Finerman's Firm And Finerman Are Short (BAC) And Own (BAC) Preferred Shares; Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Terranova Owns (MS), (DELL), (IBM), (BP), (DIS), (INTC); Terranova Owns (COP) Calls, (DIS) Calls, (XOM) Calls
Terranova Owns (HES) And Is Short (HES) Calls; Terranova Owns (BRCM) And Is Short (BRCM) Calls; Terranova Owns (IBM) And Is Short (IBM) Calls; Terranova Owns (JOYG) And Is Short (JOYG) Calls; Terranova Owns (JPM) And Is Short (JPM) Calls; Terranova Owns (INTC) And Is Short (INTC) Calls; Terranova Owns (POT) And Is Short (POT) Calls; Terranova Owns (WYNN) And Is Short (WYNN) Calls; Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (XOM) And Is Short (XOM) Calls; Terranova Is Short NYMEX June Crude Oil
Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (CAL), (DLR), (EPR), (EXR), (IGE), (MAC), (MEE), (DBC), (DBV), (SKT), (UA), (CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of Blackrock Liquidity Funds FedFund Portfolio; Virtus Investment Partners Owns More Than 1% Of Corporate Office Properties Trust SBI MD; Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund – Money Market Fund
GE Is The Parent Company Of CNBC