Pops & Drops: Cree, Amylin...
Following are the day’s biggest winners and losers. Find out why shares of Cree and Amylin popped while Monsanto and AutoZone dropped.
POPS (stocks that jumped higher)
Cree (CREE) popped 9%. The LED lighting maker raised its fourth-quarter earnings and revenue targets on Tuesday, citing stronger orders for both lighting and laptop LED products. - I wouldn't get in now, counsels Guy Adami.
Market-Vectors Coal ETF (KOL) popped 2%. The coal ETF moved in tandem with the spot price of coal, higher. - Coal stocks are a buy, says Steve Grasso.
Ultrashort 20 YR Treasury ETF (TBT) popped 4%. The inverse ETF finished higher after Treasuries fell on Wednesday’ auction of 5-year notes. - I like it, says Joe Terranova
Amylin (AMLN) popped 6%. Dissident shareholders Eastbourne Capital Management and Carl Icahn appeared to have gained seats on the board.
Sandisk (SNDK) popped 14%. The company renewed its NAND flash memory chip license with Samsung Electronics for seven years.
Teradyne (TER) popped 7%. This semi name moved higher along with the rest of tech.
DROPS (stocks that slid lower)
Monsanto (MON) dropped 6%. The company cut its third quarter guidance citing strong competition in its herbicide business. - I like this stock on the pullback, says Pete Najarian.
AutoZone (AZO) dropped 5%. Investors took profits after the largest US auto-parts retailer beat on third-quarter earnings.
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Trader disclosure: On May 27th, 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), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (ABT), (TER), (XBI), (RIMM), (IBM); Terranova Is Short (XOM) Call Spread; Terranova Owns (DIS) Call Spread; Najarian Owns (ISIS); Najarian Owns (AMAT) Calls; Najarian Owns (BX) Call Spread, (INTC) Call Spread, (MOS) Call Spread, (XHB) Call Spread, (XLB) Call Spread, (XLU) Call Spread; Grasso Owns (V), (XLF), (RIMM), (AMZN); Grasso's Firm Owns (MSFT); Grasso's Clients Owns (JPM), (OXY), (AMR), (V)