Pops & Drops: Starbucks, Chipotle...
By: Lee Brodie | Producer
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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