Pops & Drops: TiVo, Barclays
Following are the day’s biggest winners and losers. Find out why shares of TiVo and Talbots popped while Barclays and Steel Dynamics dropped.
POPS (stocks that jumped higher)
TiVo (TIVO) popped 52%. Courts awarded the company $103 million in a ruling over its patent dispute with EchoStar; the decision could bode well for new licensing agreements. - I'd stick with this stock, says Steve Grasso.
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