Pops & Drops: Sprint, Burger King...
Following are the day’s biggest winners and losers. Find out why shares of Sprint and Burger King popped while Sysco dropped.
POPS (stocks that jumped higher)
Sprint Nextel (S) popped 7%. The mobile phone operator reported a better than expected quarter on cost cutting and new subscribers. - I wouldn't go chasing these guys, counsels Pete Najarian.
Burger King (BKC) popped 6%. Bank of American upgraded the fast food company to ‘buy’ from ‘neutral’, - I like it going forward, says Pete Najarian, but I'll be looking for them to show growth.
Smithfield Foods (SFD) popped 15%. Barron’s wrote that the recent drop in share price from swine flu concerns have been overdone. - If you're in this stock, I think it's time to get out, counsels Karen Finerman
Estee Lauder (EL) popped 18%. The maker of Clinique cosmetics reported a much higher-than-expected quarterly profit on Monday as it gained market share in U.S. stores. - I wouldn't chase, muses Guy Adami.
Schlumberger (SLB) popped 7%. Barron’s wrote that the company’s shares should benefit as the global economy starts to rebound. - 80% of their business comes from overseas, reminds Tim Seymour.
Cemex (CX) popped 19%. Positive data that suggested the housing slump may be moderating sent shares of this cement maker soaring. - I think it's a good play on housing, counsels Tim Seymour.
Macy’s (M) popped 9%. Investors may be hoping this department store giant wins customers from discount retailer Filene’s Basement, which has just filed for Chapter 11. - I think it's overdone, says Karen Finerman.
DROPS (stocks that slid lower)
Sysco (SYY) dropped 4%. Although earnings were inline with estimates, sales at the company, which distributes goods to restaurants, cafeterias and other food-service outlets, fell 4.5 percent. - I wouldn't touch this stock here, says Guy Adami.
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Trader disclosure: On May 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (EEM), (FXI), (SBUX); Seymour' Firm Owns (PBR), (MBT); Seymour Is Short (X); Najarian Owns (BX) Call Spread; Najarian Owns (CROX) Call Spread; Najarian Owns (CX) Calls; Najarina Owns (FIG; Najarian Owns (INTC) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (VAR) Call Spread; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finerman's Firm Owns (AXP), (MA), (PBR), (RIG), (UNH), (TBT); Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO)