Legg Mason (LM) popped 14%. Bulls drove shares higher despite the overall bearish sentiment in financials. - $25.50 was big resistance in this stock, reveals Guy Adami, I think you sell if it gets close.
DeVry (DV) popped 5%. The company replaced GM in the S&P sparking a flurry a buying among funds that track the index. - The trade is over, says Joe Terranova, I'd go to the sidelines.
Family Dollar Stores (FDO) popped 4%. Rival Dollar General reported a sharply higher quarterly profit on Tuesday. - It's expensive but I wouldn't short this stock, says Karen Finerman.
DROPS (stocks that slid lower)
Hess (HES) dropped 11%. Shares moved in the same direction as the spot price of crude – lower. - I like that they're involved with Petrobras, says Tim Seymour. They could have access to more reserves in Brazil.
Barclays (BCS) dropped 11%. Published reports said an Abu Dhabi based sovereign investment fund sold its massive stake in the bank. - I think the same kind of thing could happen at Bank of America and other banks, speculates Tim Seymour.
American Express (AXP) dropped 5%. The credit card company issued a stock offering of $500 million to help repay TARP funds. - I'd wait for it to pull back more, suggests Karen Finerman.
Gamestop (GME) dropped 6%. Investors sold the videogame retailer after Microsoft announced games will be available for download through its Xbox 360.
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Trader disclosure: On June 2nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (GA), (TTM), (AAPL), (FCX), (FXI), (EEM), (RIMM), (NOK), (MGM), (INFY), (FCX); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman Owns (TBT); Finerman's Firm Owns (TBT), (RIG), (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (XRT)
Terranova Owns (FCX), (TER), (ABI), (XBI); Terranova Owns (POT) & (POT) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (BTU) & (BTU) Calls; Terranova Owns (RIMM) & (RIMM) Calls ; Terranova Owns (GENZ) & (GENZ) Calls; Terranova Owns (MS) & (MS) Calls; Terranova Owns (IBM) & (IBM) Calls; Terranova Is Short July Oil Futures; Terranova Is Short August Oil Futures; Terranova Is Short September Oil Futures; Terranova Owns December Oil Futures; Terranova Owns December 2010 Oil Futures; Terranova Is Short August Gold Futures; Terranova Is Short August Nat Gas Futures; Terranova Is Short July Nat Gas Futures; Terranova Owns December Nat Gas Futures; Terranova Owns (X) & (X) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (JOYG) & (JOYG) Calls; Terranova Owns (DIS) Call Spread
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