Evergreen Solar (ESLR) popped 39%. Oil’s rapid ascent renewed interest in alternative energy companies. - Be careful, solar stocks can burn, warns Pete Najarian.
Saks (SKS) popped 15%. Deutsche upgraded the department store to ‘buy’ from ‘sell’ citing cost cutting and stabilization in the market. - Guy Adami doesn't know what to say.
Novartis (NVS) popped 6%. The firm released positive vaccine data for the H1N1 or swine flu virus; if it makes it through the pipeline the drug could be worth up to $2 billion. - Giddyup, exclaims Pete Najarian.
DROPS (stocks that slid lower)
Apple (AAPL) dropped 5%. Investors grew concerned that lowering the price of the iPhone to $99 may damage the company’s high-end image. - I've sold my position, reveals Jeff Macke.
Morgan Stanley (MS) dropped 4%. Although investors are bullish on Morgan’s ability to begin repaying TARP money next week, the news was already baked into the stock. - I like this stock for the long-term, says Joe Terranova.
UnitedHealth (UNH) dropped 11%. Deutsche Bank downgraded the stock citing concerns over Obama’s new health care reforms. - I'd get long with a stop at $22.90, reveals Guy Adami.
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Trader disclosure: On June 12th, 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 Owns (AGU), (USO), (BAC); Najarian Owns (FCX) Call Spread; Najarian Owns (MCD) Calls; Najarian Owns (RCL) Calls; Adami Owns (AGU), (BTU), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (TER), (XBI), (SDS), (BTU), (RIMM); Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (MS) And Is Short (MS) 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 (IBM) And Is Short (IBM) Calls; Terranova Owns (HES) And Is Short (HES) Calls; Terranova Owns (GENZ) And Is Short (GENZ) Calls; Terranova Is Short (OIH); Terranova Is Short (RIG); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads; Terranova Is Short Aug. Nymex Crude Oil; Terranova Is Short September Nymex Crude Oil; Terranova Is Short December Nymex Crude Oil; Terranova Owns December 2011 Nymex Crude Oil; Terranova Is Short August Gold Futures; Terranova Is Short July Natural Gas Futures
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