Pops & Drops: Biogen, Exxon Mobil...

Following are the day’s biggest winners and losers. Find out why shares of Biogen and Brinker International popped while Exxon Mobil and MGM Mirage dropped.

POPS (stocks that jumped higher)

Biogen (BIIB) popped 5%. Speculation suggests activist investor Carl Icahn is in talks with Sanofi for a purchase of the company at a price of at least $75 a share. - There was huge call buying in this stock, reveals Karen Finerman.

Brinker International (EAT) popped 4%. The owner of Chili’s beat on third quarter earnings after cutting costs to battle slowing sales. - I would take gains, counsels Jeff Macke.

DROPS (stocks that slid lower)

Exxon Mobil (XOM) dropped 2%. Barclays cuts the company’s 2009 and 2010 earnings estimates, due in part to lower natural gas prices. - And the rally in oil could be dying out, adds Joe Terranova.

MGM Mirage (MGM) dropped 19%. The casino sector stocks reversed some of their recent gains after analysts said the increases weren’t justified; meanwhile a Janney Montgomery Scott analyst downgraded MGM to sell from neutral. - Leave the table when you're ahead, counsels Jeff Macke.

Archer Daniels Midland (ADM) dropped 11%. Citi downgraded the firm to “sell” from “hold” due to slowing demand and overcapacity. - It's their biggest down move in about two years, says Tim Seymour.

Applied Materials (AMAT) dropped 9%. A major solar power contract was cut by $1.65 billion due to economic conditions. - That doesn't make me want to buy it, chuckles Joe Terranova.

Estee Lauder (EL) dropped 7%. UBS downgraded the firm to “sell” from “neutral,” citing limited upside gains. - That no good, says Karen Finerman.

ArcelorMittal (MT) dropped 5%. The steel company announced plans to cut jobs at plants to cope with slowing demand. - I like the stock at current levels, says Tim Seymour.

Dow Chemical (DOW) dropped 7%. Just like their infamous scrubbing bubbles, shares went down the drain on Tuesday.

Coach (COH) dropped 5%. The company fell ahead of same-store sales Thursday.

Harley-Davidson (HOG) dropped 6%. No love for Keith Wandell one day after the company said Mr. Wendell will take over as CEO after Jim Ziemer, who currently holds the position, retires next month.

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Trader disclosure: On Apr 7th, 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), (WMT), (SDS), (GS), (GE); Terranova Owns (X), (KCE), (AMGN), (DELL), (DIS), (BP), (BRCM); Terranova Owns (COP) Calls, (HES) Calls, (IBM) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (INTC) & (INTC) Calls; Finerman Owns (AXP), (RIG); Finerman's Firm Owns (RIG), (UNH), (MSFT), (PBR); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (BBT), (WFC); Seymour Owns (AAPL), (BAC), (EEM), (FCX), (FXI), (F), (GLD); Seymour Is Short (USO)