Pops & Drops: The Buckle, Potash...

Following are the day’s biggest winners and losers. Find out why shares of The Buckle and Hormel popped while Potash and Chesapeake Energy dropped.

POPS (stocks that jumped higher)

The Buckle (BKE) popped 5%. The apparel retailer posted higher-than-expected first-quarter results as its trendy product offerings remained popular with customers despite a slowdown in mall traffic. - If you want to be in retail I think this is this name, says Joe Terranova.

Hormel Foods (HRL) popped 2%. The maker of Spam and other meat products, reported better-than-expected quarterly profit on Thursday as consumers saved money by eating more meals at home. - You can't beat a value meal, says Pete Najarian.

DROPS (stocks that slid lower)

MSCI Emerging Markets ETF (EEM) dropped 2%. The sell-off in commodities, especially oil, dragged down emerging markets. - But, the BRIC nations should benefit if the dollar suffers, says Tim Seymour.

Potash (POT) dropped 4%. The firm said it will cut production due to declining demand. - I'd stay away at current levels, muses Steve Grasso.

Chesapeake Energy (CHK) dropped 5%. Nat gas prices plunged 9%, even more than the stock of this producer. - The pull back makes absolute sense, says Pete Najarian. Nat gas won't go up in a straight line.

Home Depot (HD) dropped 4%. Negative news about the economy dragged down homebuilders as well as this home improvement retailer. - I think the stock looks interesting at this level, says Tim Seymour.

Southern Copper (PCU) dropped 4%. This firm moved in tandem with copper which plunged Thursday, as broader market sentiment soured. - I'd wait for a pullback to about $15, counsels Steve Grasso.

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Trader disclosure: On May 21st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (APC) Call Spread; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (ISIS); Najarian Owns (MOS) Call Spread; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread; Najarian Owns (BP) Call Spread; Terranova Owns (GENZ), (ABI), (JOYG), (XBI), (TER); Terranova Owns Oil Futures; Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; (XOM) Calls; Terranova Owns June Gold Futures; Grasso Owns (NYX), (XLF), (RIMM), (V); Grassso's Clients Owns (PETM); Grasso's Firm Owns (WMT); Grasso's Client Owns (SUN); Grasso Owns (NYX); Seymour Owns (AAPL), (BBT), (BX), (EEM), (FLR), (TTM), (INFY), (MGM), (PBR); Seymour is Short (FCX), (POT)