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Pops & Drops: Schering-Plough, MEMC Electronics...

Following are the day’s biggest winners and losers. Find out why shares of Schering-Plough and Constellation Brands popped while MEMC Electronics and Cisco dropped.

POPS (stocks that jumped higher)

Schering-Plough (SGP) popped 11%.
The drug company announced a cost-cutting plan expected to save $1.5 billion annually. – Take this as your exit, says Jeff Macke.

Stock Pops & Drops

Constellation Brands (STZ) popped 5%. Although the liquor company reported a loss for the quarter, its full-year guidance beat estimates. – It’s got to be the Effen vodka, Karen Finerman joke.

Icelandic Men. A new demographic survey shows that Icelandic men have the highest life expectancy among males, at 79.4 years.

Pool Corporation (POOL) popped 8%.
Following the homebuilders lead, this distributor of pool supplies moved higher. – It’s a surge on volume, observes Jeff Macke.

Dendreon (DNDN) popped 4%. The biotech entered an agreement to sell 8 million common shares at a share price 17% higher than Wednesday's close. – I think this stock is the ultimate lottery ticket, says Guy Adami.

Rice popped 2%. The grain jumped to an all-time record high Thursday on shrinking global supply.

NYSE Euronext (NYX) popped 3%. The exchange moved higher for no clear reason. – I like the valuation on this stock, says Karen Finerman.

Sandisk (SNDK) popped 8%. Citigroup reiterated it's "Buy" recommendation on this Flash-memory maker.

Patriot Coal Corp. (PCX) popped 17%. The company paid $559 million for Magnum Coal, an acquisition investors considered a good fit.

Octopus. Marine biologists studying the social structure of the cephalopods found that in the wild, they have violent courtships, occasionally strangling romantic rivals with their tentacles. Additionally, a father and mother usually die within a few months after mating and producing offspring, essentially having sex only once in their lives. All of the research is published in the journal Marine Biology.

DROPS (stocks that slid lower)

MEMC Electronics (WFR) dropped 3%. The silicon stock plunged sharply at the open after cutting its sales forecast, but the shares recovered some of their losses by the end of trading. – Buy the dip, counsels Pete Najarian.

Cisco (CSCO) dropped 3%. UBS downgraded the business software firm citing a slowdown in orders. – I think the stock could go to $27, says Guy Adami.

Caterpillar (CAT) dropped 2%. The farm and construction equipment company bought tunnel-boring company Lovat for an undisclosed sum. – Karen Finerman doesn’t know what to say.

Amgen (AMGN) dropped 2%. Despite a positive study of its new bone-density treatment, shares of Amgen fell with the broader biotech sector. – Not surprised, says Pete Najarian.

Wendy's (WEN) dropped 2%. The burger chain's same store sales for the quarter were down 1%. – They blamed Easter, says Jeff Macke.

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Trader disclosure: On Apr.3, 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 (MSFT), (YHOO); Najarian Owns (XLF), (AAPL), (CSCO); Najarian Owns (MER) Puts; Najarian Owns (AA) Calls; Finerman Owns (GS), (NYX), (MO), (MSFT), (FNM), (VLO), (SUN), (TSO), (FNM); Finerman is Short (GLD)