Following are the day’s biggest winners and losers. Find out why shares of Research In Motion and Petrobras popped while Visa and FedEx dropped.
POPS (stocks that jumped higher)
Research In Motion (RIMM) popped 2%. JPMorgan boosted its price estimates on the stock. - The stock is now trading at the top of its range, explains Joe Terranova. I took some off thet table.
Petrobras (PBR) popped 4%. The energy name moved in tandem with the spot price of crude. - I think its smarter to play oil with this stock than the USO, says Joe Terranova.
Huntington Bancshares (HBAN) popped 2%. Goldman upgraded the bank to ‘neutral’ from ‘sell’ - Maybe it goes to $4.50 but that's it, speculates Guy Adami.
Crocs (CROX) popped 16%. Piper Jaffray noted some promising signs from the company including cost controls. - Jeff Macke doesn't know what to say!
DROPS (stocks that slid lower)
Visa (V) dropped 4%. The credit card company reported travel spending fell in the first quarter as vacationers modified their plans to save money. - Hmmm, says Karen Finerman.
FedEx (FDX) dropped 2%. JPMorgan reduces its price target to $60 from $66. - I'm looking for this stock to pull back more, says Guy Adami.
SPDR S&P Homebuilders (XHB) dropped 3%. Investors bid the sector lower as mortgage rates began to climb. - No one is buying a house, exclaims Jeff Macke. Do the math and avoid the homebuilders.
American Express (AXP) dropped 4%. Investors took profits after the stock popped earlier in the week on TARP repayment. - I think Visa dragged them down, adds Karen Finerman.
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Trader disclosure: On June 11th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Macke Owns (BAC), (AGU), (USO), (SDS); Finerman Owns (RIG), (TBT); Finerman's Firm Own (NOK), (PBR), (RIG), (TBT); Finerman's Firm Is Short (BAC); Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; FInerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Terranova Owns (TER), (SDS), (XBI), (ABT), (RIMM), (GENZ); Terranova Is Short (RIG), (OIH), (FCX); Terranova Is Short (XOM) Call Spread; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (MS) & (MS) Calls; Terranova Owns (HES) & (HES) Calls; Terranova Owns (DIS) Call Spread; Terranova Owns (X) & (X) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (POT) & (POT) Calls; Terranova Owns (IBM) & (IBM) Calls
