The Talbots (TLB) popped 15%. Lazard upgraded the company to ‘buy’ from ‘hold’, citing inventory control and a possible deal with its J. Jill brand. - You might have another day but then I'd pull the rip cord, says Guy Adami.
Data Domain (DDUP) popped 3%. NetApp raised its bid for the company, matching EMC’s offer. - It should be interesting to watch, says Pete Najarian.
DROPS (stocks that slid lower)
Barclays (BCS) dropped 7%. Despite an upgrade from Credit Suisse, investors were influenced by a decision made by Abu Dhabi to sell their stake in the bank. - They're selling $6 billion in stock, adds Tim Seymour.
Steel Dynamics (STLD) dropped 10%. The steel producer announced a stock offering of 27 million shares. - Below $14 this stock gets very interesting, says Pete Najarian.
Ford (F) dropped 4%. Investors cashed out after the automaker reported better than expected sales. - They have the most to gain from GM's bankruptcy so I'd stick with Ford, says Steve Grasso.
CF Industries (CF) dropped 3%. The company showed little interest in Agrium’s $4.4 billion tender offer, instead proposing its own takeover of Terra Industries. - It's a soap opera, muses Tim Seymour.
UPS (UPS) dropped 3%. The package delivery company bought a small package delivery firm in Slovenia. - Guy Adami doesn't know what to say!
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Trader disclosure: On June 3rd, 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); Seymour Owns (TTM), (AAPL), (BAC), (BBY), (FCX), (EEM), (PBR), (NOK), (MGM); Seymour Is Short (VALE); Seymour's Firm Is Short (VALE); Grasso Owns (V), (AMZN), (WMT), (RIMM); Grasso's Clients Own (ARO), (V), (OXY), (PBR), (WMT), (RIMM), (ARO); Najarian Owns (CELG); Najarian Owns (AMAT) Calls; Najarian Owns (BX) Calls; Najarian Owns (FCX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MOS); Najarian Owns (WNR) Calls; Najarian Owns (XHB) Call Spread