Pops & Drops: Elan, Las Vegas Sands...

Following are the day’s biggest winners and losers. Find out why shares of Elan and Las Vegas Sands popped while KeyCorp and Baxter dropped.

Stock Pops & Drops
Stock Pops & Drops   

POPS (stocks that jumped higher)

iShares MSCI Emerging Markets ETF (EEM) popped 4%. The emerging markets ETF closed higher on China’s better-than-expected manufacturing data and as commodities climbed. - Don't panic, there will be other opportunities, muses Karen Finerman.

Elan (ELN) popped 11%. Recent speculation suggests Bristol-Myers Squibb may buy a stake in the company. - Nothing about that speculation has been confirmed, reminds Pete Najarian.

Las Vegas Sands (LVS) popped 9%. Analysts at Bernstein said the company should outperform this year. - The stock has failed at these levels before, reminds Jeff Macke.

Fluor (FLR) popped 7%. An FBR analyst suggested the stock could have a strong rally due to crude’s sharp move higher. - Typically this stock hits resistance at $53, says Guy Adami.

Flowserve (FLS) popped 7%. This stock along with most industrials rallied on signs of strength in the global economy. - I think it's still attractive at current valuations, says Karen Finerman.

Palm (PALM) popped 4%. Excitement about the company’s new Pre smartphone moved the stock higher again, ahead of the device’s release on June 6. - We need to see what happens after the Pre comes out, says Pete Najarian.

CBS Corp (CBS) popped 18%. UBS upgraded the media company to ‘buy’ from ‘neutral.’ - Jeff Macke doesn't know what to say.

Yahoo! (YHOO) popped 5%. Barclays upgraded the Internet site to ‘overweight’ from ‘equal weight’ citing new innovations and the potential to benefit from a rebound in advertising. - I think it continues to perform, speculates Guy Adami.

DROPS (stocks that slid lower)

KeyCorp (KEY) dropped 5%. Investors worried that this regional bank and many of its rivals may still face more pain.

Baxter International (BAX) dropped 4%. The healthcare giant purchased a stake in a British biotech.

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Trader disclosure: On June 1st, 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 (WFC), (AAPL), (F), (TGT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (TBT), (RIG), (NOK); Finerman Owns (TBT); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm Owns (MRO); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (MDY), (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (USO); Najarian Owns (AMAT) Call Spread; Najarian Owns (BP) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (PFE); Najarian Owns (MOS; Najarian Owns (XHB) Call Spread; Najarian Owns (MRO) Calls; Najaria Owns (NBR) Calls