Hartford Financial (HIG) popped 17%. The move higher comes in the wake of a recent downgrade from Fitch. - I'm not sure why it popped, says Karen Finerman candidly.
Jack In The Box (JACK) popped 8%. The fast food chain reported strong second quarter earnings and raised its outlook. - They're up huge year to date, reveals Jeff Macke, but I think it still has room.
Lennar (LEN) popped 5%. Some analysts suggest legislation that allows first-time buyers to tap the $8,000 federal tax credit will benefit this builder. - I wouldn't play the space with this stock, counsels Karen Finerman.,
IntercontinentalExchange (ICE) popped 4%. Investors bid shares of this exchange and the CME higher, as likely beneficiaries of the latest move to better regulate credit default swaps. - It's all good, says Pete Najarian.
State Street (STT) popped 7%. Widely followed Rochdale Securities' bank analyst Dick Bove initiated coverage on State Street (NYSE: STT) with a Buy rating and $52 price target. - On a dip I think it's a buy, says Guy Adami.
DROPS (stocks that slid lower)
Fortress Investment Group (FIG) dropped 2%. The firm announced plans to offer $125 million shares to repay debt. - When they price their secondary I'd buy, counsels Guy Adami.
MGM Mirage (MGM) dropped 10%. The casino issued a massive stock offering to help pay down debt, diluting shareholder value. - The market seems to not like the terms, says Jeff Macke.
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Trader disclosure: On May 14th, 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 (AGU), (F), (AAPL), (MGM), (NFLX), (GE), (SKF), (SDS), (WFC); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (CSCO), (PBR), (RIG), (UNH), (WFC); Najarian Owns (AMD) Call Spread; Najarian Owns (BX) Calls; Najarian Owns (CROX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MOS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Calls