Pops & Drops: Kraft, Molson Coors...

Following are the day’s biggest winners and losers. Find out why shares of Kraft and Molson Coors popped while Legg Mason and AK Steel dropped.

Stock Pops & Drops
Stock Pops & Drops   

POPS (stocks that jumped higher)

Kraft (KFT) popped 4%. The firm posted a higher-than-expected first-quarter profit helped by price increases, cost-cutting measures and consumers eating at home more often to save money. - They've never been more profitable, says Tim Seymour.

Molson Coors Brewing (TAP) popped 10%. The brewer reported a quarterly profit on Tuesday that spilled past Wall Street estimates. - Jeff Macke doesn't know what to say.

IntercontinentalExchange (ICE) popped 13%. Quarterly earnings beat expectations and its management talked up opportunities in credit derivatives. - People are trading more and they win, says Jeff Macke.

DROPS (stocks that slid lower)

Legg Mason (LM) dropped 17%. The money manager reported a widened quarterly loss on Tuesday and slashed its dividend. - I don't see good things for this stock near term, muses Guy Adami.

AK Steel (AKS) dropped 8%. The company said it expects to report a bigger second-quarter loss, due to weak demand. - With all the idling at the auto makers, things don't look so good here, says Pete Najarian.

Alcoa (AA) dropped 2%. Investors booked profits after shares surged Monday on on China’s manufacturing data. - I'd be flat here, says Tim Seymour.

Church & Dwight (CHD) dropped 3%. This stock dropped despite the fact they posted a first-quarter profit that exceeded analysts' estimates and raised their earnings outlook for fiscal 2009. - I think the drop was just profit taking, says Guy Adami,.

Archer Daniels Midland (ADM) dropped 9%. The agricultural processor reported a 98 percent drop in quarterly earnings and one-time equity investment losses.

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Trader disclosure: On May 5th, 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 (AAPL), (PCLN), (LVS), (SDS), (GE), (NFLX), (IMAX), (GS); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (BAC), (BX), (RIO), (SBUX); Najarian Owns (BX) Call Spread; Najarian Owns (DFS) Calls; Najarian Owns (ERTS) Calls; Najarian Owns (FIG); Najarian Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (PALM) And Is Short (PALM) Calls; Najarian Owns (XLI) Call Spread; Najarian Owns (XHB) Call Spread