Following are the day’s biggest winners and losers. Find out why shares of Honeywell and Transocean popped while Dow Chemical and Las Vegas Sands dropped.
POPS (stocks that jumped higher)
Honeywell (HON) popped 6%. Morgan Stanley upgraded the biggest maker of airplane cockpit controls. - I think the stock is cheap, counsels Pete Najarian.
Transocean (RIG) popped 2%. Earnings topped estimates and oil prices hit a 2009 high. - I like this stock, says Karen Finerman. It's climbed but I still wouldn't say it's expense.
iShares FTSE/CHINA Index ETF (FXI) popped 3%. China's economy is expected to grow 7 percent to 8 percent this year and next, and will begin to recover in 2010, influential People's Bank of China adviser Fan Gang said on Wednesday. - I'm bullish on China but I think the FXI has come too far, says Tim Seymour.
Discover Financial (DFS) popped 13%. Investors bid shares higher after rival American Express said it wouldn’t need additional capital. - I've also seen call buying in this stock, says Pete Najarian. Giddyup!
Philip Morris (PM) popped 5%. Rival British American Tobacco said sales for the first quarter were up from last year. - Smoking was smoking today, chuckles Karen Finerman.
DROPS (stocks that slid lower)
Dow Chemical (DOW) dropped 7%. The largest US chemical maker announced a stock sale to raise cash to pay for its purchase of Rohm & Haas. - I think they could go even lower, speculates Jeff macke.
Las Vegas Sands (LVS) dropped 10%. The casino reported a first quarter loss that was wider than expected.
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Trader disclosure: On May 6th, 2009, 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 (WFC), (GS), (SDS), (AGU), (PCLN), (GE); Seymour Owns (AAPL), (BAC), (F), (FXI), (RIG), (TM), (TSO); Finerman's Firm Owns (BAC) Preferred Shares And Is Short (BAC) Stock; Finerman's Firm Owns (CSCO); Finerman's Firm Owns (MSFT) And (MSFT) Put Spreads; Finerman's Firm Owns (PM); Finerman's Firm Owns (PBR); Finerman's Firm And Finerman Own (RIG); Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (DFS) Calls; Najarian Owns (EWZ) Call Spread; Najarian Owns (FIG); Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (NVDA) And Is Short (NVDA) Calls; Najarian Owns (TSO) Call Spread; Najarian Owns (XLI) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (BYD) Calls
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