Pops & Drops: U.S. Steel, Sprint...

Following are the day’s biggest winners and losers. Find out why shares of Sprint and Data Domain popped while U.S. Steel and Mosaic dropped.

POPS (stocks that jumped higher)

Data Domain (DDUP) popped 3%.
EMC increased its takeover bid by 11%, heating up the bidding war with NetApp. - I'm not a buyer here, reveals Karen Finerman.

Dendreon (DNDN) popped 4%. JPMorgan raised its price target on rival AMAG Pharmaceuticals. - Merriman now has a $50 price target on this stock, reminds Jon Najarian. Personally, I think it could be a takeover target.

Sprint Nextel (S) popped 3%. Auriga upgraded the carrier to ‘buy’ from ‘hold’ and increased their price target to $7 from $5.50. - Not a bad move, muses Karen Finerman.

DROPS (stocks that slid lower)

India's Sensex dropped 6%. India’s markets fell on concerns over an expansion of the deficit. - It's not a good thing, says Tim Seymour.

US Steel (X) dropped 6%. The steel maker moved in tandem with the spot price of most metals. - I think it's attractive below $30, says Guy Adami.

Mosaic (MOS) dropped 3%. New concerns that the recovery may be tepid at best sent this and other ag stocks tumbling. - I think they could get a pop from the G8 meeting, says Tim Seymour.

LDK Solar (LDK) dropped 10%. The firm forecast disappointing second-quarter revenue as persistently weak demand and a global glut exerted pressure on prices. - I like ESLR much more, reveals Guy Adami.

Regis Corp (RGS) dropped 21%. The owner of Hair Club for Men fell after announcing plans to sell 11.5 million shares and $125 million in 5 year notes in order to repay debt. - I'd stay away, says Jon Najarian.

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Trader disclosure: On July 7th, 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), (MSFT), (NUE), (BTU); Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (BAC); Finerman Owns (RIG), (TBT); Finerman's Firm Owns (FCN), (MSFT), (NOK), (PBR), (RIG), (TBT), (WMT), (PLCE); Seymour Owns (AA), (AAPL), (BAC), (BX), (EEM), (FXI), (F), (NUE); Seymour's Firm Owns (MBT); Seymour's Firm Is Short (PBR), (PTR); Najarian Owns (COST), (DNDN), (GS), (MS), (V), (WFC), (HK); Najarian Is Short (NVDIA); Najarian Owns (AAPL) Calls