Pops & Drops: Manitowoc, Royal Caribbean...
Following are movers you might have missed. Find out why shares of Manitowoc and Royal Caribbean popped while Clean Energy Fuels and Celgene dropped.
POPS (stocks that jumped higher)
Manitowoc (MTW) popped 8%. Shares moved higher on speculation the company could be a takeover target. - I'm seeing a lot of unusual options action, adds Pete Najarian.
Royal Caribbean (RCL) popped 2%. Bernstein raised its price target on this stock to $40. - I wouldn't be on this trade, says Joe Terranova. I think it pulls back to $32.
St. Jude Medical (STJ) popped 3%. Both Goldman Sachs and Jefferies upgraded this name. - They upgraded after I got out, chuckles Karen Finerman.
MetroPCS (PCS) popped 2%. Auriga raised the wireless name to 'Buy' from ‘Hold’ saying it thought more customers would move to prepaid phone plans. - That's not good for VZ or AT&T, says Gary Kaminksy.
Texas Instruments (TXN) popped 3%. Credit Suisse raised the company to outperform citing strong demand.
NYSE Euronext (NYX) popped 6%. JPMorgan raised its earnings estimates due to higher growth in derivatives.
Under Armour (UA) popped 2%. JPMorgan raised the company to ‘Overweight’.
DROPS (stocks that slid lower)
Celgene (CELG) dropped 2%. Investors took profits after bidding the stock higher on promising experimental stem cell treatments. - I'm a buyer of weakness, says Guy Adami.
Clean Energy Fuels (CLNE) dropped 8%. A Barron’s article speculated the stock could drop as much as 30%.
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Trader disclosure: On Apr 12, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (AAPL), (C), (BAC), (WMT), (T), (LPX); Karabell Owns (FCX); Karabell Owns (AAPL) ; Jon Najarian Owns (PALM) options; Jon Najarian Owns (CAR) options; Adami Owns (INTC), (GS), (AGU), (MSFT), (NUE), (BTU), (C); Terranova Owns (HES), (TER), (AXP), (MOS), (APA), (YHOO); Terranova Is Short (LCC); Pete Najarian Owns (AA) Call Spread ; Pete Najarian Owns (BAC) Calls; Pete Najarian Owns (C) Calls; Najarian Owns (DD) Call Spread ; Najarian Owns (DOW) Call Spread; Najarian Owns (LVS) Call Spread; Najarian Owns (MRVL); Najarian Owns (PCX) & Short (PCX) Calls; Najarian Owns (STX) Call Spread; Najarian Owns (TSO) Calls; Najarian Owns (YUM) Call Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (JPM); Finerman's Firm Owns (TJX), (BBY), (JPM), (AEO), (IBB)
Other Relevant Disclosures:
Credit Suisse Does and seek to do business with companies covered in its research reports (JPM)
Stuart Frankel & It's Partners Own (LPX)
Stuart Frankel & It's Partners Own (SDS)