Dillard's (DDS) popped 15%. The department store chain fended off a proxy fight after striking a deal with a group of investors who were looking to change management. – Sell the rip, says Jeff Macke.
Intercontinental Exchange (ICE) popped 6%. The futures exchange posted record trading activity, as the average volume in March exceeded 1 million contracts per day. – Love volume, says Karen Finerman.
Immucor (BLUD) popped 10%. This maker of testing systems for blood banks said 2008 earnings may exceed its original forecast. – I like it for a pop, says Pete Najarian.
Sneakers. People who buy more than three pairs of sneakers per year are 61% more likely to be leaders, according to a new study conducted by Mindset Media.
The Talbots (TLB) popped 16%. Two firms (Buckingham Research & Friedman, Billings Ramsey) increased their price target for the women’s wear retailer.
Solarfun (SOLF) popped 18%. All of China's solar names made double-digit percentage gains Wednesday.
DROPS (stocks that slid lower)
VeriFone (PAY) dropped 19%. The CFO of the electronic payment company stepped down after an accounting probe confirmed financial errors. – I see a lot of issues here, says Pete Najarian.
Manhattan Real Estate. Sales for condos and co-ops fell the most in 18 years, dropping by 34% from a year earlier. The median price of an apartment in the Big Apple, however, increased to $945,000.
Crocs (CROX) dropped 10%. JP Morgan cut the maker of rubber clogs to "neutral'' from "overweight''. – I think it’s cheap, says Guy Adami.
Yahoo (YHOO) dropped 2%. Microsoft said it will not sweeten its $31 offer for Microsoft. – Sell, says Jeff Macke.
Sotheby's (BID) dropped 10%. Investors didn't take kindly to news that the auction house was expanding its realty business in Europe. – No good, says Karen Finerman.
Bank of New York Mellon (BK) dropped 5%. Friedman, Billings, Ramsey said banks may be forced to raise capital to avoid regulatory review. – Hmmm, says Guy Adami.
Medarex (MEDX) dropped 18%. After Pfizer abandoned development of a melanoma treatment similar to a drug Medarex had been testing, Piper Jaffray downgraded the stock.
Anger Management. In the 3rd round of the Sony Ericsson open, short-tempered tennis player Mikhail Youzhny missed a simple volley, and proceeded to slam himself in the head with his racquet three times, causing him to bleed.
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Trader disclosure: On Apr.2, 2008, 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 (MSFT), (YHOO), (INTC) Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (CROX), (MSFT), (NYX), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (CROX); Pete Najarian Owns (AAPL), (CSCO), (ETFC), (MU), (NOK), (TSO) , (YHOO), (XLF); Pete Najarian Owns (AA) Calls, (BSC) Calls, (COP) Calls, (MSFT) Calls, (LEH) Puts, (MER) Puts, (OIH) Puts; Pete Najarian Has A Long Diagonal Time Spread In (RIMM)