Pros: 6 Stocks to Watch
Stocks started to turn around on Tuesday after Fed officials raised the possibility of further easing should economic growth continue to sputter.
Stocks see-sawed in a narrow range for most of the session as investors remained cautious amid worries over the European debt crisis and the impasse over a reduction in the U.S. deficit.
The "Fast Money" traders, though, were monitoring these market movers:
POPS (stocks that went higher)
News Corp (NWSA) popped 1%: The media company increased its share buyback from $1.8 billion to $5 billion, trader Jon Najarian reports. He said, "That's why they cut off the bleeding from that horrible day yesterday."
Sealed Air (SEE) popped 3%: This stock's performance is reflecting a "big comeback" in the packaging and containers space, Najarian said.
Radiant Systems (RADS) popped 30%: ATM maker NCR said it would buy the maker of cash registers and other point-of-sale devices for about $1.2 billion, Virtus Investment Partners' Joe Terranova said. He doesn't think the trade is in RADS, though. He prefers NCR.
MGM Resorts (MGM) popped 4%: Over the last few weeks, we've seen buyers of MGM calls , trader JJ Kinahan said. The TD Ameritrade chief derivatives strategist said that trade seems to be paying off.
DROPS (stocks that went lower)
Texas Instruments (TXN) dropped 4%: Like other chip makers, this company is struggling right now, Kinahan. He doesn't things look great for TXN going forward.
AnnTaylor Stores (ANN) dropped 3%: Veracruz founder Steve Cortez is a fan of this stock. Falling cotton prices will help apparel makers and apparel retailers, he said.
TRADING JPMORGAN, CITI AHEAD OF EARNINGS
Looking at the earnings calendar, two financial institutions will report this week. JPMorgan Chase will release its quarterly results on Thursday and Citigroup announce its earnings results on Friday.
So what's the trade?
People are starting to play JPMorgan for the upside, Kinahan said. He's noticed some call buyers of JPM.
It's more difficult to get a feel for Citi, though. So people aren't positioning ahead of C yet, he noted.
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CNBC.com with wires.