Oshkosh Corp. (OSK) popped 26%. The military said this company was the "clear winner" in a multibillion-dollar competition to build new blast resistant, off-road vehicles for ground forces in Afghanistan. - I would be taking quick profits in this, reveals Guy Adami.
Constellation Brands (STZ) popped 7%. The alcoholic beverage company said it’s benefiting from consumers switching from higher-priced drinks to those that offer more buzz for the buck. - Not only in the US, but sales are also higher in the UK, adds Tim Seymour.
Anheauser-Busch Inbev (ABI) popped 5%. The brewer announced plans to sell 3 manufacturing plants and a metal lid plant for almost $600 million. - It seems to me they want to consolidate and get rid of wholesalers, speculates Joe Terraova.
Coca Cola (KO) popped 2%. Consumer stocks including this one surged higher on data that suggested the recession could be easing. - I think this is an example of investors chasing dividends, says Pete Najarian.
DROPS (stocks that slid lower)
Marriott (MAR) dropped 4%. This and other hotels slipped after Barclays cut the U.S. lodging sector to ‘negative’ from ‘neutral’. Marriott expanded right as the credit crisis hit and I don't think there are enough lodgers for them, speculates Joe Terranova.
Myriad Genetics (MYGN) dropped 27%. The firm missed on earnings and forecast worst than expected full year revenue. - Unemployed people are losing their insurance and that's hurting this company, explains Pete Najarian. Without insurance they're not getting work done.
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Trader disclosure: On July 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; Seymour Owns (AA), (AAPL), (BAC), (BX), (F), (NUE), (EEM); Seymour's Firm Owns (FCX), (YHOO); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU; Terranova Owns (XBI), (ABT), (MSFT), (UUP), (RIMM; Najarian Owns (F) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (PALM) call Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (ELN) Calls