J.M. Smucker (SJM) popped 10%. The firm posted a quarterly profit that handily beat market expectations, helped primarily by strength in its Folgers coffee business, and raised its 2010 profit outlook. - I would take profits, counsels Jared Levy.
Carnival Corp (CCL) popped 7%. The cruise line posted a quarterly profit that beat analysts' estimates helped by better-than-anticipated pricing and lower net cruise costs. - Interesting, muses Tim Seymour.
Lions Gate Entertainment (LGF) popped 8%. Activist investor Carl Icahn boosted his stake in the company. - I think this stock is interesting, says Joe Terranova.
Winnebago Industries (WGO) popped 10%. Investors forgave a wider than expected loss and instead focused on improvement in inventory levels and signs the company is gaining market share. - It was a short covering rally, explains Guy Adami. Nothing more.
McDonalds (MCD) popped 2%. Investors rotated money into this and other stocks deemed well positioned to withstand a still uncertain economy.
SLM Corp (SLM) popped 5%. The U.S. Department of Education awarded them and other companies a contract to service $550 billion of federal student loans.
DROPS (stocks that slid lower)
US Natural Gas Fund (UNG) dropped 4%. The Energy Department said that inventory levels jumped more than expected last week. - The long trade isn't ready yet, admits Joe Terranova.
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Trader disclosure: On June 18th, 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 (C), (GS), (BTU), (AGU), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (BX), (EEM), (FXI); Seymour's Firm Owns (RSX); Levy's Firm Owns (MON); Terranova Owns (XBI), (TER), (BTU), (ABT), (MSFT); Terranova Owns (BRCM) & Is Short (BRCM) Calls; Terranova Owns (POT)& Short (POT) Calls; Terranova Is Short (JPM)& Is Short (JPM) Calls; Terranova Owns (MS) & Short (MS) Calls; Teranova Owns (X) & Is SHort (X) Calls; Terranova Owns July Nat Gas Futures ; Terranova Owns (DIS) Octovber Call Spread; Terranova Is Short (XOM) Call Spread; Terranova Is Short (GENZ) Call Spread; Terranova Is Short (OIH)& (OIH) Puts; Terranova Is Short (RIG)& (RIG) Puts; Terranova Is Short (FCX)& (FCX) Puts; Terranova Is Short (RIMM)& (RIMM) Puts; Terranova Is Short (IBM) Calls