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Pops & Drops: Hershey, China Mobile...

Following are the day’s biggest winners and losers. Find out why shares of Hershey and Flowserve popped while China Mobile and Archer Daniels Midland dropped.

Stock Pops & Drops

POPS (stocks that jumped higher)

Hershey (HSY) popped 9%. Broker Sanford Bernstein put out a note speculating that, in the aftermath of the Mars/Wrigley merger, Hershey and Nestle may be looking to form a joint venture. – Be careful with this trade, counsels Pete Najarian.

Darden Restaurants (DRI) popped 5%. The owner of Olive Garden and Red Lobster was upgraded to "Buy" at Merrill Lynch and given a $39 price target. – I think it’s too early to go into casual dining, says Jeff Macke.

Flowserve (FLS) popped 4%. The company signed a multimillion dollar contract to supply valves for a Chinese nuclear power plant. – I think it’s a fantastic company, says Karen Finerman.

Children's Place (PLCE) popped 4%. Thursday's strong quarterly results and declining oil helped to fuel the rally in this and other retailers. – I think it goes higher, says Jeff Macke.

Polaris Industries (PII) popped 10%. FTN Midwest upgraded the snowmobile and ATV-maker to "Neutral" from "Sell." – There’s a lot of short interest in this stock, explains Karen Finerman.

Bridges For Squirrels. Scottish officials are planning to spend 100,000 British pounds (about $198,000) to construct a "wildlife" bridge over a new road so that Scotland's red squirrels can cross safely. The red squirrel has been under siege in Great Britain in recent years by the North American grey squirrel

LAM Research (LRCX) popped 7%. The semi-equipment name was upgraded at Merrill Lynch with a $47 price target.

JPMorgan Chase (JPM) popped 2%. Shares of the bank withstood comments from a Goldman Sachs analyst, who said he expected the Bear Stearns acquisition to result in weaker results going forward.

LL Cool J. The rapper who recorded hits like "Doin It" and "Mama Said Knock You Out" has signed a deal with Sears to roll out his own clothing label.

DROPS (stocks that slid lower)

Gold ETF (GLD) dropped 2%. A drop in oil prices led investors to move away from using gold as an inflation hedge. – I’d be scared to be long gold, says Guy Adami.

Zune. Video game and gadget retailer GameStop announced it will stop selling the "Zune," Microsoft's answer to the i-Pod, due to insufficient demand.

China Mobile (CHL) dropped 6%.  Shares of the world's largest mobile phone company tumbled ever since the government announced it would force smaller providers to merge in an effort to increase competition. – I think this stock could be near its bottom, says Pete Najarian.

Archer Daniels Midland (ADM) dropped 3%. The ag name drifted lower for no clear reason. – I would avoid this stock for the time being, says Guy Adami.

DryShips (DRYS) dropped 3%. Shares of the shipper have fallen more than 20% in the last six trading days. – It’s very volatile but interesting at current levels, says Pete Najarian.

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Trader disclosure: On May 27, 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 (INTC), (DIS), (MSFT), (EMC), (WMT); Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (BTU), (NUE); Najarian Owns (AAPL), (BHI), (BUD), (TSO), (XLF), (HPQ) ; Najarian Owns (BAC) Puts; Najarian Owns (JNPR) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (HD); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (AAPL); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)