Following are the day’s biggest winners and losers. Find out why shares of Bristol Myers and Goodrich popped while 3M and Chipotle dropped.
POPS (stocks that jumped higher)
Bristol Myers Squibb (BMY) popped 4%. Sales of Plavix were up after a generic version of the blood clot drug left the market. – I like their pipeline, says Pete Najarian.
Goodrich (GR) popped 10%. The Boeing-supplier said profit was up 58% on higher airline-repair demand. – I like it, says Guy Adami.
Electronic Data Systems (EDS) popped 8%. The computer services company beat profit expectations on a 66% increase in contracts. – It’s not trading anywhere near where it came from, says Pete Najarian.
Gasoline theft. As the price of gasoline creeps toward $4 a gallon the Petroleum Marketers Association is reporting increases in "Drive Offs": customers filling up and then speeding away without paying. To combat the problem, more stations are switching to "pay then pump" systems.
Wabtec (WAB) popped 6%. First quarter results at the train-parts supplier beat estimates; it also raised full-year estimates.
J.C. Penney (JCP) popped 4%. Discount department store stocks surged Thursday for no clear reason.
Taser (TASR) popped 20%. Taser investors received a shock after the stun-gun maker said sales and profits missed Wall Street estimates.
Skechers (SKX) popped 20%. International demand for this shoe maker's funky kicks sent profits up 37%.
Abercrombie & Fitch. Not the stock, but the brand which received some free advertising as three Obama supporters - all visibly wearing Abercrombie & Fitch emblazoned shirts - stood behind presidential hopeful Barack Obama as he spoke in Evansville, Indiana. A&F spokespeople said it was merely a coincidence.
DROPS (stocks that slid lower)
3M (MMM) dropped 2%. A slowing U.S. economy sent profits at the Dow member tumbling 28%. – I think it will become a "buy" but not yet, says Guy Adami.
Whirlpool (WHR) dropped 10%. The world's largest appliance maker said surging metal prices were partly responsible for its first quarter profit decline, and lowered full-year outlook. – I was surprised, says Karen Finerman.
Newell Rubbermaid (NWL) dropped 11%. Just one day after rival Tupperware surged on earnings, Rubbermaid cuts its full-year EPS estimate on rising costs. – They can’t get out of their own way, exclaims Jeff Macke. Stay away!
Chipotle Mexican Grill (CMG) dropped 9%. Despite posting quarterly earnings that topped expectations, shares of the burrito restaurant sold off sharply. – I wouldn’t own it here, says Karen Finerman.
Royal Caribbean (RCL) dropped 4%. Fuel costs led the cruise line to cut its full-year profit estimate.
Zimmer Holdings (ZMH) dropped 4%. The artificial joint maker reported disappointing sales growth and noted that a December product recall was more extensive than originally announced.
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Trader disclosure: On Apr. 24, 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), (MSFT), (INTC); Pete Najarian Owns (AAPL), (NOK), (TSO), (XLF), (YHOO); Pete Najarian Owns (CHK) Calls, (DD) Calls, (MSFT) Calls, (POT) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (WMT), (YHOO), (MO), (PM), (JCP); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Charles Schwab Is A Sponsor Of "Fast Money"