Following are the day’s biggest winners and losers. Find out why shares of Sprint and Burger King popped while Sysco dropped.
POPS (stocks that jumped higher)
Sprint Nextel (S) popped 7%. The mobile phone operator reported a better than expected quarter on cost cutting and new subscribers. - I wouldn't go chasing these guys, counsels Pete Najarian.
Burger King (BKC) popped 6%. Bank of American upgraded the fast food company to ‘buy’ from ‘neutral’, - I like it going forward, says Pete Najarian, but I'll be looking for them to show growth.
Smithfield Foods (SFD) popped 15%. Barron’s wrote that the recent drop in share price from swine flu concerns have been overdone. - If you're in this stock, I think it's time to get out, counsels Karen Finerman
Estee Lauder (EL) popped 18%. The maker of Clinique cosmetics reported a much higher-than-expected quarterly profit on Monday as it gained market share in U.S. stores. - I wouldn't chase, muses Guy Adami.
Schlumberger (SLB) popped 7%. Barron’s wrote that the company’s shares should benefit as the global economy starts to rebound. - 80% of their business comes from overseas, reminds Tim Seymour.
Cemex (CX) popped 19%. Positive data that suggested the housing slump may be moderating sent shares of this cement maker soaring. - I think it's a good play on housing, counsels Tim Seymour.
Macy’s (M) popped 9%. Investors may be hoping this department store giant wins customers from discount retailer Filene’s Basement, which has just filed for Chapter 11. - I think it's overdone, says Karen Finerman.
DROPS (stocks that slid lower)
Sysco (SYY) dropped 4%. Although earnings were inline with estimates, sales at the company, which distributes goods to restaurants, cafeterias and other food-service outlets, fell 4.5 percent. - I wouldn't touch this stock here, says Guy Adami.
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Trader disclosure: On May 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (EEM), (FXI), (SBUX); Seymour' Firm Owns (PBR), (MBT); Seymour Is Short (X); Najarian Owns (BX) Call Spread; Najarian Owns (CROX) Call Spread; Najarian Owns (CX) Calls; Najarina Owns (FIG; Najarian Owns (INTC) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (VAR) Call Spread; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finerman's Firm Owns (AXP), (MA), (PBR), (RIG), (UNH), (TBT); Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO)
