Following are the day’s biggest winners and losers. Find out why shares of Alcoa and Evergreen Solar popped while Apple and Morgan Stanley dropped.
POPS (stocks that jumped higher)
Alcoa (AA) popped 11%. Rising commodities prices lifted a number of materials names including this one. - I think the stock is a little ahead of itself, says Joe Terranova. It seems ripe for a pullback.
related investing news
Evergreen Solar (ESLR) popped 39%. Oil’s rapid ascent renewed interest in alternative energy companies. - Be careful, solar stocks can burn, warns Pete Najarian.
Saks (SKS) popped 15%. Deutsche upgraded the department store to ‘buy’ from ‘sell’ citing cost cutting and stabilization in the market. - Guy Adami doesn't know what to say.
Novartis (NVS) popped 6%. The firm released positive vaccine data for the H1N1 or swine flu virus; if it makes it through the pipeline the drug could be worth up to $2 billion. - Giddyup, exclaims Pete Najarian.
DROPS (stocks that slid lower)
Apple (AAPL) dropped 5%. Investors grew concerned that lowering the price of the iPhone to $99 may damage the company’s high-end image. - I've sold my position, reveals Jeff Macke.
Morgan Stanley (MS) dropped 4%. Although investors are bullish on Morgan’s ability to begin repaying TARP money next week, the news was already baked into the stock. - I like this stock for the long-term, says Joe Terranova.
UnitedHealth (UNH) dropped 11%. Deutsche Bank downgraded the stock citing concerns over Obama’s new health care reforms. - I'd get long with a stop at $22.90, reveals Guy Adami.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to .
Trader disclosure: On June 12th, 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 (AGU), (USO), (BAC); Najarian Owns (FCX) Call Spread; Najarian Owns (MCD) Calls; Najarian Owns (RCL) Calls; Adami Owns (AGU), (BTU), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (TER), (XBI), (SDS), (BTU), (RIMM); Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (JPM) And Is Short (JPM) Calls; Terranova Owns (POT) And Is Short (POT) Calls; Terranova Owns (BRCM) And Is Short (BRCM) Calls; Terranova Owns (IBM) And Is Short (IBM) Calls; Terranova Owns (HES) And Is Short (HES) Calls; Terranova Owns (GENZ) And Is Short (GENZ) Calls; Terranova Is Short (OIH); Terranova Is Short (RIG); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads; Terranova Is Short Aug. Nymex Crude Oil; Terranova Is Short September Nymex Crude Oil; Terranova Is Short December Nymex Crude Oil; Terranova Owns December 2011 Nymex Crude Oil; Terranova Is Short August Gold Futures; Terranova Is Short July Natural Gas Futures
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (CAL), (CLB), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights