Following are the day’s biggest winners and losers. Find out why shares of Morgan Stanley and Motorola popped while Boeing and KeyCorp dropped.
POPS (stocks that jumped higher)
Morgan Stanley (MS) popped 4%. An analyst at FBR said the long-term prognosis for the bank is solid. - It was a nice day for financials and Morgan went along for the ride, says Karen Finerman.
Rio Tinto (RTP) popped 4%. Analysts at ING raised the miner to ‘buy’ from ‘hold.’ - It's flat over the last 3 days, reminds Tim Seymour. That's the story.
Motorola (MOT) popped 4%. Bank of America upgraded the firm to ‘buy’ from ‘neutral’ citing their new phones coming onto the market in time for Christmas. - The move is only a few pennies, reminds Pete Najarian.
Starbucks (SBUX) popped 3%. Baird upgraded the stock to ‘outperform’ citing improved traffic and cost savings. - Good for them, says Karen Finerman.
Petrobras (PBR) popped 3%. The company said oil’s recent spike had eased its financial concerns and reported it has financing to meet most of its plans through 2010. - I think it's a great long-term play, says Tim Seymour.
Massey Energy (MEE) popped 6%. Shares of this and other coal producers moved up as commodities edged their way higher.
Research In Motion (RIMM) popped 2%. The maker of the Blackberry scored gains as rival Apple sold off.
DROPS (stocks that slid lower)
Boeing (BA) dropped 6%. Shares of Boeing plunged on Tuesday after the aviation giant postponed the first test flight of its 787 Dreamliner for a fifth time, citing a structural problem.
KeyCorp (KEY) dropped 4%. Fitch cut the bank’s rating by one notch. The ratings agency said that although KeyCorp's recent capital raise provided extra loss absorption, the company still faces elevated risk because of its exposure to commercial real estate.
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Trader disclosure: On June 23rd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (INTC) & Is Short (INTC) Calls; Najarian Owns (JPM) & Is Short (JPM) Calls; Najarian Owns (ORCL) Call Spread; Najarian Owns (YHOO) Call Spread; Terranova Owns (TER), (XBI), (BTU), (MSFT), (HES), (RIMM), (BTU), (MS); Terranova Is Short (GENZ) Call Spreads; Terranova Owns (GENZ) And Is Short (GENZ) Calls; Terranova Owns (DIS) Call Spreads; Terranova Is Short (XOM) Call Spreads; Finerman Owns (TBT); Finerman's Firm Owns (MSFT), (PBR), (RIG), (NOK), (TBT), (YUM), (WMT); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Is Short (BAC), (IJR), (MDY), (IWM), (SPY), (USO),(CAKE); Seymour Owns (BAC), (AAPL), (EEM), (FXI), (NOK), (PWRD)