Pops & Drops: J.C. Penney, Alcoa...

Monday, 29 Jun 2009 | 5:52 PM ET

Following are the day’s biggest winners and losers. Find out why shares of J.C. Penney and Mosaic popped while Alcoa and Palm dropped.

POPS (stocks that jumped higher)

J.C. Penney (JCP) popped 2%. JPMorgan upgraded the department store to "Overweight" from "Neutral" and lifted its price target to $33 from $28. - It's had such a big run I wouldn't jump in here, says Karen Finerman.

Mosaic (MOS) popped 6%. The company moved in the same direction as other ag names, higher. - It doesn't do anything for me, explains Joe Terranova.

Stock Pops and Drops
The Fast Money traders take a look at todayâ??s biggest market movers.

Merck (MRK) popped 3%. After struggling with delays for a year, the healthcare giant said its vaccine for shingles is now shipping on time. - $28 has been resistance for this stock a few times, adds Guy Adami. I wouldn't touch it unless it breaks above $28.

Discover Financial (DFS) popped 8%. Keefe Bruyette & Woods upgraded the credit card company to ‘outperform’ from ‘market perform’. - Typically I like best of class stocks and this one isn't one of them, says Karen Finerman.

DROPS (stocks that slid lower)

Alcoa (AA) dropped 3%. FBR downgraded the firm to ‘underperform’ from ‘market perform’ saying the stock’s rally has been overdone and there’s too much supply in the industry. - I don't see any reason to get in before earnings, counsels Guy Adami.

Cell Therapeutics (CTIC) dropped 4%. Investors booked profits in a stock that’s climbed 25% over the past month. - The move down doesn't compare to its move higher over the past month, reminds Tim Seymour.

Palm ( PALM) dropped 2%. Investors booked profits in this red hot stock which is still up about 30% this month alone. - I think it's a correction and not a change in trend, counsels Joe Terranova.

Shanda Interactive (SNDA) dropped 8%. Investors bid the stock lower on speculation that this online gaming site wants to gobble up a rival. - I don't think this stock is particularly cheap, says Tim Seymour.

Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On June 29th, 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 (C), (GS), (BTU), (AGU), (INTC), (MSFT), (NUE); Seymour Owns (AA), (AAPL), (BAC), (BX), (EEM), (FXI), (INFY); Seymour's Firm Owns (QCOM), (NOK), (EEM); Terranova Owns (TER), (RIMM), (MSFT), (XBI), (MS), (ABT); Finerman Owns (RIG), (ELX); Finerman's Firm Own (NOK), (PBR), (RIG), (TBT), (ELX), (HPQ); Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Is Short (IJR), (IYR), (MDX), (SPY), (USO)

  Price   Change %Change

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report