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Pops & Drops: Exxon Mobil, Baidu and More

Wednesday, 8 Jun 2011 | 6:16 PM ET

The following are moves you might have missed. Find out why shares of Exxon Mobil and Annaly Capital popped while Baidu and Under Armour dropped.

POPS (stocks that jumped higher)

Annaly Capital Management (NLY) popped 1%. The move may be tied to positive comments made at a REIT conference. - "I like it here," said Brian Kelly, "as a mortgage backed security play."

Stock Pops & Drops
The Fast Money traders take a look at today's biggest market movers.

Bob Evans Farms (BOBE) popped 11%. The restaurant company, which issued guidance for the next fiscal year in line with Street estimates, was upgraded to 'buy' from 'hold' by Miller Tabak Wednesday.

Exxon Mobil (XOM) popped 1%. The company announced one of the biggest oil discoveries in years in the Gulf of Mexico, which could generate 700 million barrels of oil. What happened today for Exxon is very bullish, Joe Terranova said.

DROPS (stocks that slid lower)

Baidu.com (BIDU) dropped 3%. It's possible that investors are worried that $117, a past level of support, won't hold on this latest down move. This is a very volatile stock, Stephen Weiss said. He agrees the technicals are beginning to look bearish; if it doesn't hold right here, there's a long way to go on the downside.

Mosaic (MOS) dropped 2%. After the fertilizer manufacturer's CEO cautioned that flooding could disrupt the planting season, investors may have been spooked by reports that the rising Missouri River is threatening to flood up to 500,000 acres of corn and soybeans.

Under Armour (UA) dropped 3%. Typically retail trades inversely to oil and this stock was no exception. - It was a terrible day for retail across the board, Karen Finerman said.

JDS Uniphase (JDSU) dropped 5%. The communication equipment maker saw its stocks tumble, along with other names in the sector, after Ciena reported a bigger loss and lower revenue in the second quarter than expected.

Molycorp (MCP) dropped 9%. The Greenwood Village, Colo.-based company announced plans to raise about $200 million through a debt offering.




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Trader disclosure: On June 8, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Accounts Managed by Brian Kelly Capital own (GLD); Accounts Managed by Brian Kelly Capital own (SLV); Accounts Managed by Brian Kelly Capital own (IWM) puts; Accounts Managed by Brian Kelly Capital own new zealand dollar: Accounts Managed by Brian Kelly Capital own swedisk krona; Accounts Managed by Brian Kelly Capital own canadian dollars; 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).

For Joe Terranova
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSWI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & URL PLC
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Glen Yeung
Citigroup is a market maker in (AAPL)

CNBC.com with wires

  Price   Change %Change
BOBE
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JDSU
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UA
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NLY
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BIDU
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XOM
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