Following are Monday's biggest winners and losers. Find out why shares of Dell and Elan popped while Exxon Mobil and Freightcar America dropped.
POPS (stocks that jumped higher)
POP: DELL (DELL) POPS 4%
The computer maker popping today after a Deutsche bank analyst sees strong demand for the company’s products. Apparently Dell is getting back into the MP3 business. I would be taking profits says Guy Adami.
POP: PHILIP MORRIS INTERNATIONAL INC (PM) POPS 3%
The world’s largest publicly traded tobacco company popping after it agreed to buy Canadian tobacco company Rothmans last week. Karen Finerman thinks the move was just a rotation out of commodities.
A pop for pillows as JetBlue jumps on the a la carte pricing bandwagon by charging passengers $7 for a pillow. But there is a bright side, as each pillow purchase will come with a $5 dollar coupon for Bed Bath & Beyond. Dylan Ratigan suggests that you may want to bring your own pillows.
POP: SOUTHWEST AIRLINES (LUV) POPS 2%
The discount air carrier trading higher as declining oil prices send shares up. Tim Seymour thinks the stock is overdone.
POP: ELAN CORPORATION (ELN) POPS 11%
The drugmaker popping after reintroducing its MS drug Tysabri to the market today, despite the discovery of brain infections in 2 patients taking the drug last week. Karen Finerman doesn't believe today's move is a pop since the stock was at $33.75 per share a week ago.
POP: KEVIN BACON
Researchers from Microsoft corroborated the existence of the 'small world theory,' or the 6 degrees of Kevin Bacon, by studying massive amounts of instant messenger traffic. The study showed that any two individuals are distanced by just 6.6 degrees of separation. Jeff Macke sarcastically suggested that Microsoft should have plenty of other things to do than this study.
DROPS (stocks that slid lower)
DROP: EXXON MOBIL (XOM) DROPS 4%
The biggest U.S. energy producer down after oil falls below $120 a barrel, and as Tropical Storm Edouard seems to pose less of a threat to offshore drilling. "More of the same" according to Tim Seymour.
DROP: DISH NETWORK CORP (DISH) DROPS 4%
The second-largest U.S. satellite-television provider down today after reporting lost subscribers this quarter due to competition and weak economic conditions. The cocooning trade doesn't work for everyone, you've got to be a good operator says Jeff Macke.
DROP: CSX CORP (CSX) DROPS 3%
The third-largest U.S. freight railroad operator dropping despite the positive barron's cover story on the railroad industry. Guy Adami attributes the down move to some dissident shareholder issues, but the commodity move didn't help either, and its likely we'll see lower still from here.