Following are the day’s biggest winners and losers. Find out why shares of Fortune Brands and Northwest Airlines popped while Thornburg Mortgage and Cal-Maine Foods dropped.
POPS (stocks that jumped higher)
Fortune Brands (FO) popped 9%. The liquor company did not win a bidding war to buy the Absolut vodka brand from the Swedish government, quelling investors concerns that it might pay too much. It also announced a buyback. – I think this stock looks cheap, says Guy Adami.
Northwest Airlines (NWA) popped 3%. Chatter that Northwest was still interested in pursuing a merger with Delta sent shares higher. – Interesting, says Pete Najarian.
Starbucks (SBUX) popped 3%. CEO Howard Schultz said he'll fight a court ruling that orders the company to re-pay baristas $100 million in tip-pool money. – I like it for a trade, says Jeff Macke.
Baseball. Monday marks the start of the 2008 baseball season, with 14 games being played around the country.
Gilead (GILD) popped 4%. Data from IMS suggested Gilead's HIV-drug treatments Truvada and Atripla showed strong sales in February. – I think it goes higher, says Guy Adami.
Charles Schwab (SCHW) popped 4%. The broker received an upgrade from S&P to "Buy" from "Hold." – A great day for this stock, says Pete Najarian.
Macy's (M) popped 5%. After sliding down more than 10% last week, Macy's shares staged a small recovery Monday. – I think it was overdone last week, says Karen Finerman.
Ansoft Corp (ANST) popped 30%. The maker of electronic design automation technology was bought by Ansys for $832 million.
Vertex Pharmaceuticals (VRTX) popped 28%. The biotech released positive data on an oral medication under development for Hepatitis-C.
Coach (COH) popped 3%. Another retailer, battered last week, made a slight recovery Monday.
Beverly Hills 90210. Adding to its teen-targeted line-up, the CW is putting a remake of the hit 90's series 90210 into development, ushering the next generation of Brandons, Kellys, Brendas and Dylans.
DROPS (stocks that slid lower)
Thornburg Mortgage (TMA) dropped 27%. The "jumbo" mortgage lender fell as investors waited to hear if Thornburg could secure more capital to avoid bankruptcy. – I don’t know what’s going to happen with this stock, says Karen Finerman.
Cal-Maine Foods (CALM) dropped 12%. The egg producer surged at the open on better-than-expected earnings -- but investors quickly took profits, sending shares down sharply by 10:00am. – I think you could build a position, says Jeff Macke.
Jos. A Bank Clothiers (JOSB) dropped 7%. Barron's said shares of the men's formalwear retailer could go as low as $16.
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Trader disclosure: On Mar.31, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (HAS), (INTC); Najarian Owns (AAPL), (CSCO), (MSFT), (NOK), (TSO), (XLF), (YHOO); Najarian Owns (AA) Calls, (COP) Calls, (BSC) Calls; Najarian Owns (LEH) Puts; Finerman's Firm Owns (SPY), (MO), (MSFT), (NYX), (PM), (TSO), (VLO), (WMT), (YHOO), (GS), (GLNG); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM); Charles Schwab Is A Sponsor Of "Fast Money"