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Pops & Drops: Alcoa, Lennar...

Following are the day’s biggest winners and losers. Find out why shares of Alcoa and Lennar popped while Conagra and Nike dropped.

POPS (stocks that jumped higher)

Alcoa (AA) popped 5%. Citi initiated coverage with a 'buy' rating. - Aluminum prices are up too, explains Tim Seymour.

Lennar (LEN) popped 17%. Investors forgave a wider year-over-year quarterly net loss when they heard about the firm’s sequential rise in new home sales and orders. - I wouldn't buy this stock here, counsels Guy Adami.

American Eagle (AEO) popped 7%. Consumer shares led the market rally with investors optimistic that the consumer is not quite as bad as feared. - I think it was a beneficiary of Tween Brands getting a takeover bid from Dress Barn, muses Karen Finerman.

IMAX (IMAX) popped 10%. The midnight premiere of Transformers: Revenge of the Fallen sold out at all 160 IMAX locations. - Giddyup, exclaims Pete Najarian.

Deere & Co (DE) popped 5%. Goldman upgraded the company to 'neutral' from 'sell' citing the stock's current valuation and strength in commodities.

SLM Corp. (SLM) popped 10%. JPMorgan upgraded the firm to 'overweight' from 'neutral.'

DROPS (stocks that slid lower)

Conagra (CAG) dropped 5%. The company reported quarterly profit in line with analysts' expectations, dashing hopes the foodmaker would top estimates as some competitors had.

Nike (NKE) dropped 3%. The company said orders declined 12% due to the slowdown in consumer spending.

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Trader disclosure: On June 25th, 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); Najarian Owns (LM) Call Spread;’ Najarian Owns (PALM) Call Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (MSFT); Finerman's Firm And Finerman Own (FLS), (RIG); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IWM), (IYR), (IJR), (MDY), (SPY), (USO); Seymour Owns (AAPL), (BAC); Seygem Asset Management Owns (FCX), (MOS)