Procter & Gamble (PG) popped 5%. A mid-week upgrade from Barclays raised the stock to “overweight.” - I think it's a great place to hide for the summer, counsels Steve Grasso.
Morgan Stanley (MS) popped 5%. Along with JPMorgan, this firm has emerged as a top beneficiary of the big boom in secondary offering activity. - I think this stock takes out $30, counsels Joe Terranova.
Sears (SHLD) popped 10%. Traders speculate this could be a short squeeze after the retailer posted an unexpected first quarter profit. - They also extended some credit agreements which is good for the balance sheet, adds Tim Seymour.
US Steel (X) popped 6%. This and other steelmakers made gains along with the price of base metal. - I'd steer clear of this stock, counsels Steve Grasso.
Autodesk (ADSK) popped 7%. The largest maker of engineering-design software posted first quarter results that topped estimates.
Citigroup (C ) popped 1%. Although most banks with big credit card exposure sold-off, investors kept Citi in the green for the week.
DROPS (stocks that slid lower)
Home Depot (HD) dropped 6%. Although the company reported higher-than-expected quarterly earnings investors found the results disappointing in comparison to those from rival Lowe's. - I think it's worth a look at these levels, counsels Pete Najarian.
Hewlett-Packard (HPQ) dropped 3%. The tech titan gave a disappointing outlook for full-year revenue and said it will lay off another 2 percent of its workforce as consumers and businesses cut spending on computers.
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Trader disclosure: On May 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BBT), (EEM), (FLR), (TTM), (INFY); Seymour is Short (FCX); Terranova Owns (ABI), (JOYG), (XBI), (TER); Terranova Owns (DIS) Call Spreads; Terranova Owns Oil Futures; Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; Terranova Owns June Gold Futures; Grasso Owns (AMZN), (RIMM), (V); Grasso's Clients Own (AMZN), (PG), (X), (MA), (VA), (ALL), (AMP), (JPM), (WFC), (SUN), (PBR), (POT), (MOS), (MSFT), (IBM), (XLE); Najarian Owns (ISIS), (BCSI); Najarian Owns (APC) Call Spread; Najarian Owns (AMD) Calls; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (MOS) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread