Pops & Drops: Fluor, Ford...
Following are the day’s biggest winners and losers. Find out why shares of Fluor and Winn-Dixie popped while Ford and CBS dropped.
POPS (stocks that jumped higher)
Fluor (FLR) popped 6%. The engineering company reported stronger-than-expected earnings however they did lower full-year outlook. - I think it still has upside ahead, speculates Karen Finerman.
Winn-Dixie (WINN) popped 28%. The company said a better product-mix, coupled with lower transportation costs, boosted results for the quarter. - That's quite a pop, says Jeff Macke.
AstraZeneca (AZN) popped 3%. Rotation out of technology and into healthcare benefited this Big Pharma name. - And investors are excited about their new heart drug, reminds Pete Najarian.
Fossil (FOSL) popped 9%. The firm reported stronger than expected first quarter earnings and increased it full-year forecast. - It's been scalding, exclaims Jeff Macke.
DROPS (stocks that slid lower)
Ford (F) dropped 17%. The automaker said it will sell 300 million common shares and use part of the proceeds to pay off its healthcare obligations to the United Auto Workers. - I think there's concern on the debt side, says Tim Seymour.
Anadarko Petroleum (APC) dropped 6%. The firm plans to issue 30 million shares to fund capital spending. The offering priced at $45.50 per share. - At the end of the day I think it's a positive thing, muses Tim Seymour.
CBS (CBS) dropped 7%. Morgan Stanley said the company has been too optimistic in their estimated ad sales recovery.
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Trader disclosure: On May 12th, 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 (PCLN),(GS), (WFC), (AGU), (NFLX), (TGT), (WFC), (AMZN), (SDS); Finerman's Firm Owns (BAC) Preferred; Finerman;s FIrm Is Short (BAC), (MSFT), (PBR), (RIG), (UNH); Seymour Owns (AAPL), (BAC), (BX), (EEM), (FXI), (PBR), (POT), (TSL); Najarian Owns (AMD) Calls; Najarian Owns (BX) Calls; Najarian Owns (CROX) Calls; Najarian Owns (F) & (F) Calls; Najarian Owns (INTC) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MOS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Calls