Considering the downward momentum of Monday’s market, following you’ll find the day's most notable losers. We’ll have winners again tomorrow, at least hopefully!
DROPS (stocks that slid lower)
Lear Corp (LEA) dropped 29%. Barclays downgraded the stock to ‘underweight’ from ‘neutral,’ saying the company’s restructuring will be bad for shareholders. - Maybe buy it for a trade but not an investment, counsels Guy Adami.
First Solar (FSLR) dropped 3%. After big gains last week, this and other solar stocks sold off as crude oil pulled back. - I'm not surprised, muses Pete Najarian.
Lincoln National (LNC) dropped 10%. The insurance company announced plans to raise $2.1 billion in capital and will offer $600mln in stock. - It seems there's a lot wrong with this stock, says Joe Terranova.
ArcelorMittal (MT) dropped 7%. Despite an upgrade to ‘buy’ from ‘hold’ at Deutsche bank, the steel producer fell on a commodities sell off. - I think 2010 could be bullish for this company, speculates Tim Seymour.
Palm (PALM) dropped 3%. Investors took profits after last week’s run. - The only reason I see to get long is on a bet that Dell takes them over, speculates Guy Adami.
Alcoa (AA) dropped 7%. The company was another casualty of the commodities sell-off. - It's profit taking, says Pete Najarian.
Caterpillar (CAT) dropped 4%. If crops don’t command high prices, investors fear farmers will invest less in tractors and other equipment made by this firm. - I'm not sure about this stock, says Joe Terranova.
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Trader disclosure: On June 15th, 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), (BTU), (MSFT), (NUE); Seymour Owns (AA), (BAC), (BX), (EEM), (FXI), (TTM); Seymour's Firm Owns (NOK); Seymour's Firm Owns (TKC); Najarian Owns (BX) Call Spread; Najarian Owns (FCX) Calls & Put Spread; Najarian Owns (GE) Calls; Najarian Owns (INTC) Call Spread; Najarian Owns (MOS) Put Spread; Najarian Owns (PALM) Calls; Najarian Owns (WNR); Najarian Owns (S) Calls; Terranova Owns (TER), (SDS), (ABT); Terranova Owns (RIMM) & Short (RIMM) Calls; Terranova Is Short (RIG); Terranova Owns (BRCM) & Short (BRCM) Calls; Terranova Owns (MS) & Short (MS) Calls; Terranova Is Short (FCX); Terranova Owns (GENZ) & Short (GENZ) Calls; Terranova Owns (HES) & Short (HES) Calls; Terranova Is Short (XOM) Call Spread; Terranova Owns (DIS) Call Spread; Terranova Owns (X) & Short (X) Calls; Terranova Owns (JPM) & Short (JPM) Calls; Terranova Owns (BTU) & Short (BTU) Calls; Terranova Is Short August Gold Futures; Terranova Owns (POT) & Short (POT) Calls; Terranova Is Short Septmeber Oil Futures; Terranova Owns December Oil Futures; Terranova Owns August Nat Gas Futures; Terranova Owns (IBM) & Short (IBM) Calls; Terranova Is Short (OIH) & (OIH) Calls