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Homebuilders, Google and Other Tradable Movers

Following are moves you might have missed. Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!

Gap

The catalyst: Lazard Capital upgraded shares of Gap to buy from neutral.

The trade: I’d just stay away, says Pete Najarian.

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Urban Outfitters

The catalyst:Urban Outfitters reported a quarterly profit above market expectations as the clothing retailer managed to sell more women's apparel at regular prices,.
The trade: I’m not so sure they can keep the momentum going, says Patty Edwards.

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Homebuilders ETF

The catalyst: Investors bid the XHB higher after a new report showed builder confidence for newly built, single-family homes was up five points in May 2012; it's the best reading since May of 2007.

The trade: I covered all my shorts last week expect for homebuilders, says Steve Cortes. Just look at the gap lower in Lowes.

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Google

The catalyst:Google completed its $12.5 billion acquisition of phone maker Motorola Mobility and said it has appointed a Google executive as the new CEO of the business.

The trade: There’s concern about how well Google will integrate a handset maker but I still like Google, says Brian Kelly

Posted by CNBC's Lee Brodie

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Trader disclosure: On May 22, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long PEP; Pete Najarian is long FB; Pete Najarian is long FIO; Patty Edwards is long AAPL; Patty Edwards is long GLD; Patty Edwards is long INTEL; Patty Edwards is long JOYG; Patty Edwards is long SBUX; Patty Edwards is long COP; Patty Edwards is long AMZN; Patty Edwards is long PEP; Patty Edwards is long PVH; Steve Cortes is long QQQ; Steve Cortes is long GOOG; Steve Cortes is long LNKD; Steve Cortes is long SO; Steve Cortes is long DEO; Steve Cortes is long GS; Steve Cortes is long CLX; Steve Cortes is short XHB; Brian Kelly is long AMAT; Brian Kelly is long GE; Brian Kelly is long INTC; Brian Kelly is long MSFT; Brian Kelly is long ORCL; Brian Kelly is long T; Brian Kelly is long VZ; Brian Kelly is long WFC; Brian Kelly is long KRE; Brian Kelly is long GLD; Brian Kelly is long FDX; Brian Kelly is long UPS; Brian Kelly is long USG; Brian Kelly is short EUROSTOXX 50; Brian Kelly is short CAC40; Brian Kelly is short FTSE100

For Camilla Sutton
Nothing to disclose

For Michael Pachter
Wedbush Securities makes a market in the securities of the subject company, Best Buy: BBY

For Brian Marshall
Nothing to disclose

For Dana Telsey
Nothing to disclose

Symbol
Price
 
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%Change
GPS
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URBN
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SPDR SP HB
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GOOGL
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