Following are the week’s biggest winners and losers. Find out why shares of Aetna and Perfect World popped while Caterpillar and Wells Fargo dropped.
POPS (stocks that jumped higher)
Aetna (AET) popped 15%. Despite talk of sweeping healthcare reform, this and other HMOs made gains for the week. - I'd be a short term seller, says Jared Levy, but longer-term I like it.
Perfect World (PWRD) popped 15%. The online game company raised guidance for the second quarter due to strong sales of its “Battle of the Immortals” game. - It's at its 52-week high, adds Tim Seymour.
Carmax (KMX) popped 10%. The largest US used car dealer beat profit estimates.
Carnival Corp (CCL) popped 10%. The cruise line beat on second quarter earnings.
DROPS (stocks that slid lower)
Caterpillar (CAT) dropped 11%. The firm said machine sales in North America were down 57% from the same time last year. - I like this stock around $29, says Joe Terranova.
Wells Fargo (WFC) dropped 5%. This bank was among the 21 financials whose credit rating was cut by S&P. - I think it still goes down, speculates Guy Adami.
Freeport-McMoRan (FCX) dropped 13%. The miner moved in tandem with the spot price of metal. - I think the stock drops below $50 before it resumes its uptrend, says Joe Terranova.
SPDR S&P Homebuilders ETF (XHB) dropped 5%. A sentiment index showed companies in this ETF are still facing headwinds.
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Trader disclosure: On June 19th, 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), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (BAC), (F), (NOK); Terranova Owns (SDS), (TER), (XBI), (BTU), (ABT), (MSFT), (HES), (BTU); Terranova Is Short (XOM) Call Spreads; Terranova Is Short (OIH) And (OIH) Puts; Terranova Is Short (RIG) And (RIG) Puts; Terranova Is Short (FCX) And Is Short (FCX) Puts; Terranova Is Short (GENZ) Call Spreads; Terranova Owns (GENZ) And Is Short (GENZ) Calls; Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (DIS) Call Spreads; Terranova Owns (BRCM) And Is Short (BRCM) Calls; Terranova Is Short (IBM) Calls; Terranova Owns (RIMM) And Is Short (RIMM) Calls;
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