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Pops & Drops: Boeing, Office Depot, Tyson Foods and More

Stocks ended up nearly a percent or more as investors helped push the market to new two-year highs for the first trading day of the year.

There were many market movers on Monday, but these names caught the "Fast Money" traders attention:

POPS (stocks that moved higher)

Boeing (BA) popped 2%: Citing an increased production rate and global demand, JPMorgan upgraded BA to ‘overweight’ from ‘neutral.'

"When people need planes, they need them now," said Tim Seymour, founder of EmergingMoney.com, adding that he thinks the stock could go higher.

Office Depot (ODP) popped 7%: The second largest office supply chain was raised to ‘buy’ from ‘neutral’ at Janney Montgomery. If this stock has, in fact, bottomed out and sales are good, Metropolitan Capital Advisors' president Karen Finerman thinks the stock is poised for "decent growth."

DROPS (stocks that went lower)

Coach (COH) dropped 2%: Jefferies is now bearish on several high-end names and downgraded COH to 'hold.' OptionMONSTER.com co-founder Pete Najarian likes this name based on valuation and would consider buying shares should it drop to $54.

DryShips (DRYS) dropped 5%: The Greek owner of deepwater drilling rigs and vessels was cut to ‘underweight’ from ‘overweight' at Morgan Stanley. Brian Kelly, founder of Kanundrum Capital, likes this name and would consider buying shares at around the $5 level.

Tyson Foods (TSN) dropped 4%: The largest U.S. chicken processor was downgraded to ‘market perform’ from ‘outperform’ at BMO Capital. Short interest could drive this stock down to $15.75, said Drakon Capital's Guy Adami.

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Trader disclosure: On Jan. 3, 2011, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour owns (BAC), (F), (FXI), (GE), (GOOG), (MON), (MOS), (POT) and (YHOO). Guy Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU) and (YHOO). Karen Finerman owns (AAPL), (BAC) and (MSFT). Pete Najarian owns (AXP), (CNI), (MRO), (RSX), (PAL), (NTRS), (TEVA), (PFE) and (YHOO). Pete Najarian owns (AKAM) call spreads. Pete Najarian owns (BBY) calls. Pete Najarian owns (C). Pete Najarian owns (DB) calls. Pete Najarian owns (DRYS). Pete Najarian owns (F). Pete Najarian owns (GE). Pete Najarian owns (GM) call spreads. Pete Najarian owns (LBY) calls. Pete Najarian owns (MSFT) and (MSFT) calls. Pete Najarian owns (TCK) call spreads

GE is the parent company of CNBC
NBC Universal is the parent company of CNBC

GUY ADAMI
Adami's wife works at (MRK)

KAREN FINERMAN
Finerman's firm is short (IJR)
Finerman's firm is short (MDY)
Finerman's firm is short (SPY)
Finerman's firm is short (IWM)
Finerman's firm is long S&P puts
Finerman's firm is long Russell 2000 puts
Finerman's firm owns (IBM)
Finerman's firm owns (JPM) and (JPM) leaps

BRIAN KELLY
Accounts Managed By Kanundrum Capital Own (FCX)
Accounts Managed By Kanundrum Capital Own (JPM)
Accounts Managed By Kanundrum Capital Own (MS)
Accounts Managed By Kanundrum Capital Own (BBT)
Accounts Managed By Kanundrum Capital Own (DE)
Accounts Managed By Kanundrum Capital Own (ANDE)
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (GDX)
Accounts Managed By Kanundrum Capital Own (GDXJ)
Accounts Managed By Kanundrum Capital Own (DRYS) calls
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (QCOM)
Accounts Managed By Kanundrum Capital Own (WFC)
Accounts Managed By Kanundrum Capital Own (XLE)
Accounts Managed By Kanundrum Capital Own (OIH)
Accounts Managed By Kanundrum Capital Own USD
Accounts Managed By Kanundrum Capital Are Short The Euro

CHRIS WHALEN
Whalen has no disclosures

JORGE BERISTAIN
Deutsche Bank and/or its affiliate(s) own 1% or more of any class of common equity of (AA)
(AA) is an Investment Banking client of DBSI
Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from (AA) within the past year
(AA) has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities-related services

YAIR REINER
Oppenheimer & Co. Is A Market Maker In (AAPL)
Oppenheimer & Co. Is A Market Maker In (OTVI)
***NO DISCLOSURES ON AUO, GLW

DAVID RIEDEL
Riedel has no disclosures

KATHY LIEN
Lien is long USD
Lien is long Oil
GFT makes a market in the U.S. Dollar, Australian Dollar, and Euro

MIKE KHOUW
Cantor Fitzgerald & Co is a market maker in (POT)

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