Amazon, Express Scripts and Other Movers

Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!

Amazon dropped .
The catalyst: Bank of America Merrill Lynch downgradedthe stock to neutral, saying a "protracted" investment cycle may weigh heavier on the online mega-retailer's bottom line than expected.
The trade: “Over the long-term this is a stock I want to be in,” says trader Patty Edwards. “Betting against Jeff Bezos is a bad move.”

Express Scripts popped .
The catalyst: The FTC approved Express Scripts purchase of rival Medco Health Solutions following an arduous eight-month review.
The trade: “I like the stock,” says Joe Terranova, but not at current levels. I’m a buyer around $52.”

Abercrombie popped .
The catalyst: Brean Murray upgradedthe stock to buy and set a $65 price target, declaring it's time to get "more aggressive" on the name.
The trade: "It’s a quality name – I’m long," reveals trader Mike Murphy. "I think it goes higher."

GDX popped .
The catalyst: Although there’s no clear catalyst, growing chatter in the market suggests the metals may be undervalued.
The trade: Jon Najarian agrees with the chatter and tells us he’d play it long GDX or GDXJ if you want more torque.

*You can find Pops & Drops about 4 minutes into this video.

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Trader disclosure: On Apr 2, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long POT; Joe Terranova is long TCK; Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long SBUX CALL SPREADS; Jon Najarian is long GLD CALL SPREADS; Jon Najarian is long SLV CALL SPREADS; Jon Najarian is long GDXJ CALL SPREADS; Jon Najarian is long CBOE; Jon Najarian is long CIGX; Jon Najarian is long CME; Patty Edwards is long AAPL; Patty Edwards is long GLD; Patty Edwards is long INTC; Patty Edwards is long JOY; Patty Edwards is long SBUX; Patty Edwards is long COP; Patty Edwards is long AMZN

For Jeff Hirsch
Nothing to disclose

For John Rutledge
Nothing to disclose

For Brian White
No disclosures

For Connie Maneaty
Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

For Jordan Rohan
Stifel, Nicolaus & Company, Inc. makes a market in the securities of GRPN
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services in the next 3 months from GRPN