Following are the week’s biggest winners and losers. Find out why shares of Tyson Foods and Philip Morris popped while IBM and NVIDIA dropped.
POPS (stocks that jumped higher)
Tyson Foods (TSN) popped 17%. The firm said it had returned to profitability in February and that it had taken new cost cutting measures. - Also, expectations for earnings were awful and they came in better than expected, reminds Joe Terranova.
Philip Morris (PM) popped 11%. At an investors meeting the company’s CEO said new products in its key brands like Marlboro will help grow cigarette sales overseas, its core market. - Not too shabby, says Karen Finerman.
Disney (DIS) popped 16%. Shares of the Mouse House climbed after quarterly results beat Wall Street’s expectations and CEO Bob Iger told analysts he sees “some signs the economic downturn has stabilized." - I've got a little anger toward this stock, bristles Jeff Macke. (He missed the run.)
UnitedHealth (UNH) popped 27%. Investors are betting that forthcoming healthcare policies will not roil the market as badly as once expected. - Also the stock was cheap, reminds Karen Finerman.
Freeport-McMoRan (FCX) popped 16%. Shares of this miner moved in tandem with the spot price of most metals. - I would take profits here and get back in around $43, counsels Joe Terranova.
DROPS (stocks that slid lower)
IBM (IBM) dropped 3%. Investors booked profits in this stock incase the recent signs of stabilization in the economy are only temporary. - I'd give this stock a rest, says Jeff Macke.
NVIDIA (NVDA) dropped 22%. Although the company beat Wall Street's pessimistic estimates it said business had been hurt by weak demand from personal computer makers. - I'd look at INTC instead, counsels Guy Adami.
D.R. Horton (DHI) dropped 20%. The company terminated its revolving credit facility, which could put pressure on the balance sheet because the company used the facility to back its letters of credit. - Ehh, come on, says Guy Adami.
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Trader disclosure: On May 8th, 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), (TGT), (WFC), (GS), (PCLN), (GE), (SDS), (AGU); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (MSFT) And Is Long (MSFT) Put Spreads; Finerman's Firm Owns (UNH); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (SPY), (MDY), (IWM), (USO), (BBT); Terranova Owns (XBI), (GENZ), (ABT), (BP); Terranova Is Short (XOM) Call Spread; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (DIS) Call Spread; Terranova Is Short (JPM), (BRCM), (POT), (X), (WYNN), (JOYG), (HES); Terranova Is Short June Crude Oil Futures; Terranova Is Short June Natural Gas Futures
Terranova Works For (VRTS): Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (CAL), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (CLB), (WBMD); 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
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