Goldman Sachs (GS) popped 2%. Bernstein analyst Brad Hintz upgraded the firm to "outperform" from "market perform," saying it will continue to win "up for grabs" share in the fixed income market. - The stock has gravity working against it and it still goes higher, says Guy Adami.
Proshares Ultrashort 20 YR Treasury ETF (TBT) popped 4%. The ETF that tracks twice the inverse of the Treasury index made gains as treasuries fell on speculation the Fed will raise interest rates. - I think it moves higher next week if the auction encounters lackluster demand.
FLIR Systems (FLIR) popped 8%. The maker of thermal imaging equipment and Fast Money's Rising Star stock moved on an upgrade from Raymond James. - I like this stock, reminds Karen Finerman. It was my Rising Star pick.
Green Mountain Coffee (GMCR) popped 13%. Recent strength was driven by an 85 percent increase in royalties the company gets from other companies selling coffee in its proprietary single-serve cups, called K-Cups.
Phillip Morris (PM) popped 4%. Stifel raised its estimates and price target on the cigarette maker.
Palm (PALM) popped 6%. Investors bid this stock higher in anticipation of Pre’s debut on Saturday, however shares fell on Friday on reports that Sprint will carry the Pre exclusively for longer than 6 months.
DROPS (stocks that slid lower)
Ciena Corp (CIEN) dropped 3%. The maker of communications networking equipment reported a bigger-than-expected loss and a sharp drop in revenue as phone companies cut spending.
Lennar (LEN) dropped 13%. Investors took profits in this name on concerns of an inventory glut.
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Trader disclosure: On June 5th, 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), (MSFT), (NUE), (BTU); Finerman's Firm Owns (PBR), (PM), (TBT); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (XRT); 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's Firm And Finerman Own (FLS); Finerman's Firm Owns (MSFT), (RSH), (FLIR), (CSCO), (NOK); Seymour Owns (AAPL), (BAC), (F); Terranova Owns (TER), (ABT), (XBI);
Terranova Owns (BTU) And Is Short (BTU) Calls; Terranova Owns (RIMM) And Is Short (RIMM) Calls; Terranova Owns (GENZ) And Is Short (GENZ) Calls ; Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (MS) And Is Short (M)S Calls; Terranova Owns (JPM) And Is Short (JPM) Calls; Terranova Owns (POT) And Is Short (POT) Calls; Terranova Owns (BRCM) And Is Short (BRCM) Calls; Terranova Owns (HES) And Is Short (HES) Calls ; Terranova Owns (IBM) And Is Short (IBM) Calls; Terranova Is Short (XOM) Call Spreads ; Terranova Owns (DIS) Call Spreads; Terranova Is Short (FCX) And (FCX) Puts
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD), (CAL), (CLB), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights