Pops & Drops: Nike, Exxon...
Following are the week’s biggest winners and losers. Find out why shares of Nike and American Superconductor popped while Exxon Mobil and Pfizer dropped.
POPS (stocks that jumped higher)
Nike (NKE) popped 9%. Rival UnderArmor reported a surprise quarterly profit from double-digit sales in its apparel business. - I'd be long above $50 but if it goes below I'd get out, says Joe Terranova.
American Superconductor (AMSC) popped 20%. A strong wind industry in China and an even stronger outlook for the sector helped this firm post solid first-quarter results and boost its full-year view. - If it falls below $30 be careful, counsels Guy Adami.
Barclays 20 YR Treas. ETF (TLT) popped 4%. The ETF that tracks the performance of Treasurys moved higher on worse than forecast consumer spending and after successful government auctions. - Nice pop, says Tim Seymour.
Wells Fargo (WFC) popped 5%. Rival Bank of America announced plans to close locations making Wells the bank with the most branches, 6,668 in 39 states. - I'm not excited, says Joe Terranova.
Expedia (EXPE) popped 12%. The online travel agency said that bookings were down far less than expected. - I'm hoping it signals strength in the consumer and it's not just a blip on the radar, says Mike Khouw.
DROPS (stocks that slid lower)
Exxon Mobil (XOM) dropped 3%. The firm reported a steeper-than-expected drop in quarterly profit as natural gas and crude oil prices slid from a year ago and the global recession hurt demand for fuel. - Looking ahead, I'd start building a position but in rival Chevron, counsel Mike Khouw.
Pfizer (PFE) dropped 3%. Investors took profits despite a Barron's report that said the stock remained a bargain. - I'd stay away, says Guy Adami.
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