Philip Morris (PM) popped 11%. At an investors meeting the company’s CEO said new products in its key brands like Marlboro will help grow cigarette sales overseas, its core market. - Not too shabby, says Karen Finerman.
Disney (DIS) popped 16%. Shares of the Mouse House climbed after quarterly results beat Wall Street’s expectations and CEO Bob Iger told analysts he sees “some signs the economic downturn has stabilized." - I've got a little anger toward this stock, bristles Jeff Macke. (He missed the run.)
UnitedHealth (UNH) popped 27%. Investors are betting that forthcoming healthcare policies will not roil the market as badly as once expected. - Also the stock was cheap, reminds Karen Finerman.
Freeport-McMoRan (FCX) popped 16%. Shares of this miner moved in tandem with the spot price of most metals. - I would take profits here and get back in around $43, counsels Joe Terranova.
DROPS (stocks that slid lower)
IBM (IBM) dropped 3%. Investors booked profits in this stock incase the recent signs of stabilization in the economy are only temporary. - I'd give this stock a rest, says Jeff Macke.
NVIDIA (NVDA) dropped 22%. Although the company beat Wall Street's pessimistic estimates it said business had been hurt by weak demand from personal computer makers. - I'd look at INTC instead, counsels Guy Adami.
D.R. Horton (DHI) dropped 20%. The company terminated its revolving credit facility, which could put pressure on the balance sheet because the company used the facility to back its letters of credit. - Ehh, come on, says Guy Adami.
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Trader disclosure: On May 8th, 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 (AAPL), (TGT), (WFC), (GS), (PCLN), (GE), (SDS), (AGU); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (MSFT) And Is Long (MSFT) Put Spreads; Finerman's Firm Owns (UNH); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (SPY), (MDY), (IWM), (USO), (BBT); Terranova Owns (XBI), (GENZ), (ABT), (BP); Terranova Is Short (XOM) Call Spread; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (DIS) Call Spread; Terranova Is Short (JPM), (BRCM), (POT), (X), (WYNN), (JOYG), (HES); Terranova Is Short June Crude Oil Futures; Terranova Is Short June Natural Gas Futures
Terranova Works For (VRTS): Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (CAL), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
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