Pops & Drops: Lear, Morgan Stanley...

Following are the day’s biggest winners and losers. Find out why shares of Agrium and AK Steel popped while Morgan Stanley and United Airlines dropped.

POPS (stocks that jumped higher)

Agrium (AGU) popped 3%. BMO raised their target on this stock to $55 from $50. - I'm back in love with this stock, reveals Jeff Macke.

CB Richard Ellis (CBG) popped 14%. The company said John Paulson’s hedge fund will buy $100 million of the $400 million in notes and $150 million in stock it plans to sell. - Paulson is enough to get any real estate related enterprise higher, explains Karen Finerman.

Lear Corp (LEA) popped 29%. The auto supplier benefited from news that Chrysler is preparing to emerge from bankruptcy with Fiat taking a 20% stake in the automaker. - Giddyup, exclaims Pete Najarian.

AK Steel (AKS) popped 5%. KeyBanc analysts said steel companies should experience at least a near-term bounce as prices and demand pick up.

Brown-Forman (BF.B) popped 3%. The maker of Jack Daniel’s and Southern Comfort reaffirmed its full year guidance and beat on earnings.

DROPS (stocks that slid lower)

Morgan Stanley (MS) dropped 6%. Investor took profits after Geithner revealed a new bank pay czar leading to speculation that government may remain heavy handed in the sector. - Option action forecast the move yesterday, says Pete Najarian.

Airlines (XAL) dropped 2%. Fitch Ratings downgraded the parent of United Airlines to ‘CCC” due to further concerns over revenue and liquidity and as oil continued to climb. - With higher oil, consumer retrenchment, and swine flu they're facing a lot of headwinds, says Joe Terranova.

Caterpillar (CAT) dropped 2%. Investors took profits in the wake of the company’s annual shareholders meeting.

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Trader disclosure: On June 10th, 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 Is Long (USO), (AGU), (SKF); Najarian Is Long (AAPL) Call Spread; Najarian is Long (FCX) Calls And Puts; Najarian Is Long (JPM), Short (JPM) Calls; Najarian Is Long (PALM) Call Spread; Finerman Is Long (NOK); Finerman Is Short (USO); Terranova Is Long (RIMM) And Short (RIMM) Sept. Calls; Terranova Is Long (MS) And Short (MS) July Calls; Terranova Is Short (XOM) Call Spread; Terranova Is Short (FCX) And Short (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