Following are moves you might have missed. Find out why shares of Cablevision and Golar popped while Sprint and Talbots dropped.
POPS (stocks that jumped higher)
Cablevision (CVC) popped 6%. The board approved a spin-off of its cable networks unit to be called AMC Networks, formerly known as Rainbow Media. - I think it has a little more upside, says Guy Adami.
Intel (INTC) popped 2%. Street speculation intensified that the company may ink a deal with Apple to make chips for the iPad and iPhone.
Temple-Inland (TIN) popped 41%. International Paper made an unsolicited bid for the company at $3.38 billion or $30.60 / share, and in response the company adopted a 'poison pill' to fend off the takeover. - I hope they engage in discussions, says Karen Finerman.
Apache (APA) popped 2%. Raymond James upgraded the stock to ‘Strong Buy’ and raised its price target to $180 saying the company was “too cheap to ignore.” - I'd be wary, says Joe Terranova.
Golar (GLNG) popped 4%. Owners of shares as of market close Tuesday will be eligible for a dividend of 25 cents per share. - Nice job, says Karen Finerman.
DROPS (stocks that slid lower)
Sprint (S) dropped 3%. Stifel downgraded the stock to ‘Sell’ from ‘Hold’ citing concerns about the company’s 4G strategy. - I'd stay away, says Brian Kelly.
Talbots (TLB) dropped 38%. The company warned its revenue would fall for a fifth straight quarter while heavy discounting shrinks its margins. - Pretty bad, says Zach Karabell.
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Trader disclosure: On June 7, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Karabell owns (AAPL); Karabell owns (CSCO); Karabell owns (DD); Karabell owns (GE); Karabell owns (GOOG); Karabell owns (GS); Karabell and River Twice Capital own (IBM); Terranova owns (XOM); Terranova owns (KSS); Terranova owns (CVI); Terranova owns (OXY); Terranova owns (TM); Terranova owns (BJ); Terranova owns (DIS); Terranova owns (PFE); Terranova owns (V); Terranova owns (HPQ); Terranova owns (FLX); Terranova owns (JPM); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (VRTS); Terranova is short (DELL); Terranova is Chief Market Strategist of Virtus Investment Partners, LTD; Adami owns (AGU); Adami owns (C); Adami owns (INTC); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU)
For Anthony Scaramucci
Skybridge is a Fund of Funds Manager
Funds Held May or May not Own the Recommended Securities
Zachary Karabell
River Twice Capital is short (SPY)
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Brian Kelly
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For Mike Khouw
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For James Iuorio
Iuorio is short (USO)
For Jeff DeGraaf
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