Pops & Drops: Deere, Lockheed Martin...
Following are the day’s biggest winners and losers. Find out why shares of Deere and UnitedHealth popped while Lockheed Martin and Moody’s dropped.
POPS (stocks that jumped higher)
Deere (DE) popped 2%. Rival Caterpillar beat on earnings and increased its full year outlook. - Not bad, says Tim Seymour.
UnitedHealth (UNH) popped 3%. The company reported second quarter earnings more than doubled topping estimates; also it increased full year outlook.
Boeing (BA) popped 2%. Investors bid the stock higher ahead of earnings, Wednesday. Also India and the US cleared the way for the company to bid on a $10 billion fighter jet contract.
DROPS (stocks that slid lower)
Lockheed Martin (LMT) dropped 8%. Second quarter earnings fell due to pension-related charges and word that three new contracts had been delayed. - I'm a buyer on the dip, says Tim Seymour.
Moody’s (MCO) dropped 6%. The Treasury Department announced plans for tougher regulations surrounding the ratings firms. - That's a bad thing for Moody's, chuckles Karen Finerman.
Southwest Airlines (LUV) dropped 6%. CEO Gary Kelly said he could not guarantee a profitable third quarter. - I don't like airlines, says Steve Grasso.
Coca-Cola (KO) dropped 1%. The soda company missed on earnings largely due to a stronger dollar.
Peabody Energy (BTU) dropped 5%. Second-quarter earnings tumbled by two-thirds, falling well short of Wall Street expectations; also the company’s full-year outlook was lower than forecasts.
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