Pops & Drops: Starbucks, Chipotle...
Following are the week’s biggest winners and losers. Find out why shares of Starbucks and Chipotle popped while Qualcomm and Ebay dropped.
POPS (stocks that jumped higher)
Starbucks (SBUX) popped 9%. The java giant beat estimates and increased guidance as more customers visited their stores and spent more. - I think there's more innovation to come, says Anthony Scaramucci.
Chipotle (CMG) popped 15%. The burrito chain posted quarterly profit that crushed analysts' estimates and raised its forecast for 2010 sales. - I'd wait a day and then I'm a buyer, says Brian Kelly.
Tupperware (TUP) popped 11%. The company reported strong earnings due to robust sales.
Morgan Stanley (MS) popped 10%. The bank easily topped estimates with strong trading revenues boosting results.
DROPS (stocks that slid lower)
Qualcomm (QCOM) dropped 11 %. The company forecast lower-than-expected revenue on Wednesday because of weak cellphone chip prices. - I just can't get on board, says Joe Terranova.
Ebay (EBAY) dropped 7%. The company’s earnings forecast for the second quarter disappointed investors. - I don't like the action and I'd stay away, says Steve Grasso.
Verizon (VZ) dropped 2%. The company. reported the lowest quarterly number of new wireless contract customers in nearly a decade. - I don't like it, says Gary Kaminksy.
Nokia (NOK) dropped 15%. The smartphone maker reported weaker than expected earnings citing margin pressures.
Greenhill (GHL) dropped 4%. The company reported quarterly profit way below analysts' view, hurt by lower financial advisory fees, and said its co-chief executive will step down, effective immediately.
Yahoo! (YHOO) dropped 3%. The first-quarter results released Tuesday marked Yahoo's first revenue growth in 18 months, although the meager gain of 1 percent fell shy of management and analyst hopes.
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