Arch Coal (ACI) popped 4%. Coal and commodities in general ripped higher with the Reuters/Jefferies CRB index touching a 6-month high. - Coal names, love 'em, says Joe Terranova.
Analog Devices (ADI) popped 16%. The chip name reported stronger than expected second-quarter earnings and offered an optimistic third quarter forecast. - I like the stock but I don't know if I'd buy it here, says Joe Terranova.
DROPS (stocks that slid lower)
BJ’s Wholesale (BJ) dropped 4%. The third largest warehouse operator closed lower despite beating on earnings and raising its full year outlook. - I'd take profits and get out, says Jeff Macke.
Wells Fargo (WFC) dropped 4%. This bank was among the many losers as the broad financial services sector sold-off.
Palm (PALM) dropped 9%. An analyst downgraded the stock to ‘underperform’, saying expectations for the Pre have become overdone. - I think the stock is ahead of itself but under $10 it's interesting, says Pete Najarian.
AnnTaylor (ANN) dropped 11%. The retailer reported a first quarter loss and sales that were worse than expected. - I think the stock is a sell, says Jeff Macke.
Saks (SKS) dropped 8%. Investors took profits after yesterday’s pop from better-than-expected earnings. - I'm just not excited about this one, says Guy Adami.
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Trader disclosure: On May 20th, 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), (SKF), (SDS); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (ABT), (TER), (JOYG), (XBI), (X), (HES); Terranova Owns Oil Futures;p Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; Terranova Owns (XOM) Calls; Terranova Owns June Gold Futures; Najarian Owns (ISIS); Najarian Owns (APC) Call Spread; Najarian Owns (BBY) Put Spread; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MOS) Call Spread; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread; Najarian Owns (PCU) Calls