Following are the day’s biggest winners and losers. Find out why shares of CME Group and Halliburton popped while Ford and UAL dropped.
POPS (stocks that jumped higher)
CME Group (CME) popped 2%. The futures and commodities exchange company plans a stock buyback and declared a special dividend. – I like it, says Pete Najarian.
Halliburton (HAL) popped 6%. The oilfield service provider walked away from buying Expro. – I think they punted, says Karen Finerman.
Cameco Corp. (CCJ) popped 5%. RBC Capital maintained its 'Outperform' rating on the company citing its acquisition of a 24% interest in global laser enrichment. – The energy sector is hot right now, explains Jeff Macke
Evergreen Solar (ESLR) popped 4%. Lehman Brothers maintained its 'equal weight' rating on the company citing strong upside to its 2009 projections. – I think solar is the real deal, says Pete Najarian.
The Potty Python. A python was found in a toilet bowl in a highrise apartment in Australia's northern city of Darwin, local media reported on Friday. Said the reptile catcher who fished the python out, "I had to give him a wash because he was wet and a bit smelly."
DROPS (stocks that slid lower)
Ford Motor Company (F) dropped 9%. The company said it was cutting vehicle production and delaying its new F-150 pickup truck. – I’m not happy, says Guy Adami.
UAL Corp. (UAUA) dropped 15%. Shares of the airline were pummeled by investors after oil prices rose despite the weekend's summit. – When oil is up the airlines go down,, says Pete Najarian.
Big Lots (BIG) dropped 3%. Bloomberg reported the company has the highest percentage of insiders selling it short. – Ask yourself what do those insiders know, says Karen Finerman.
Buffalo Wild Wings (BWLD) dropped 11%. Raymond James downgraded the stock to 'underperform' because of the recent flooding across the Midwest. – That’s bad, says Jeff Macke.
Circuit City (CC) dropped 21%. The electronics retailer fell on concerns about the company's ability to turn around its business as well as its prospects for a sale. – I think you should stay away, counsels Guy Adami.
Flood Museum. Talk about irony - 15 years after the flood of 1993, residents of Madison, Iowa saw history repeating itself as the museum they built documenting the '93 flood became flooded.
R.H. Donnelley (RHD) dropped 6%. The Yellow-Pages publisher announced the expiration of exchange offers for its senior notes. – Also the company's president retired, adds Karen Finerman.
Motorola (MOT) dropped 6%. Piper Jaffray cut its rating to 'sell' from 'neutral' on concerns about falling market share. We need to do an intervention and get Carl Icahn out of this stock, exclaims Jeff Macke.
Pier 1 Imports (PIR) dropped 17%. Goldman Sachs said the company's bid to buy Cost Plus was likely ill-fated from the outset. – I see no reason to own this stock except maybe you’ll see a bounce Tuesday, says Guy Adami.
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Trader disclosure: On June 23, 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 (HAS), (WMT), (MSFT), (INTC); Najarian Owns (AAPL), (TSO), (XLF), (CHK); Najarian Owns (LLL) Calls, (SLB) Calls, (SD) Calls; Najarian Owns (MER) Puts; Adami Owns (NUE), (BTU), (C), (AGU), (GS), (INTC), (MSFT); Finerman Owns (GS); Finerman's Firm Owns (CYBX), (MO), (MSFT), (NYX), (PM), (SBUX), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (BIG), (IYR), (IJR), (MDY), (IWM), (SPY)