Wynn Resorts (WYNN) popped 36%. Positive comments about Macau and MGM’s massive City Center project in Las Vegas sent the whole sector higher. - It's also a heavily shorted stock, explains Joe Terranova.
Disney (DIS) popped 7%. Investors shrugged off a JP Morgan downgrade to ‘neutral’ from ‘overweight.’ - I'd take some profits, counsels Jeff Macke.
Continental Airlines (CAL) popped 5%. The airline advanced on the strength of the overall transportation sector. - They seem to be digesting bad news quite well, says Joe Terranova. I think it could go to $15.
Gilead Sciences (GILD) popped 5%. The company’s hypertension drug received positive results in a phase 3 clinical trial. - Nice pop, says Karen Finerman.
VMWare (VMW) popped 18%. Goldman Sachs added VMware to its ‘Conviction Buy List,’ and upped its target to $29. - Tim Seymour isn't sure what to say.
Intercontinental Exchange (ICE) popped 6%. Goldman’s added the stock to its 'Conviction Buy List' citing new regulations and a solid position to outperform its peers. - I think there could be a lot more trading fees in their future, adds Joe Terranova.
DROPS (stocks that slid lower)
Monsanto (MON) dropped 7%. JPMorgan downgraded the stock to 'neutral' from 'overweight' due to slowing sales growth. - I think of this stock as a proxy for the ag names in general, explains Jeff Macke.
Capital One (COF) dropped 5%. Moody’s downgraded the firm citing higher costs of credit and continued pressures. - I would not short this stock, says Karen Finerman. In fact I'm thinking about getting long.
Hartford Financial (HIG) dropped 10%. Moody’s cuts the company’s credit rating due to continued risks of losses and weak earnings. - It seems to me like they're going to have to raise more capital, speculates Tim Seymour.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
Trader disclosure: On Apr 3rd, 2009, 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 (WFC), (AAPL), (GE), (GS), (MOS); Seymour Owns (AAPL), (AA), (EEM), (FCX), (FXI); Finerman Owns (BAC) Preferred; Finerman's Firm Owns (MSFT), (RIG); Finerman's Firm Owns (WFC) Preferred, (BAC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (USO), (IWM), (BAC), (BBT), (WFC); Terranova Owns (JOYG), (X), (IBM), (XOM), (HES), (POT), (DIS), (DELL), (JPM), (INTC), (BP); Terranova Owns (COP) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (WYNN) & (WYNN) Calls; Terranova Owns (AMGN) & (AMGN) Puts