Pops & Drops: Hovnanian, Lowe's...

Following are the day’s biggest winners and losers. Find out why shares of Hovnanian and Varian popped while Lowe’s and SunPower dropped.

POPS (stocks that jumped higher)

Hovnanian (HOV) popped 9%. Word that new home sales jumped 11% in June sent this and other homebuilders surging. - I wouldn't touch this space, says Joe Terranova. Inventory levels are too high.

Varian (VARI) popped 29%. Agilent Technologies agreed to acquire the company for $1.5 billion. - It's worth watching, says Pete Najarian.

DROPS (stocks that slid lower)

RadioShack (RSH) dropped 7%. Second quarter sales missed estimates. - I'm not a fan of this stock anymore, says Karen Finerman.

Alpha Natural Resources (ANR) dropped 6%. The coal name missed on earnings, as profits fell 77%. Also the company warned its full year sales forecast could be cut. - I wouldn't rush in, counsels Tim Seymour.

Coach (COH) dropped 3%. Lazard downgraded the company to ‘hold’ from ‘buy’ saying fundamentals still haven’t stabilized.

Lowe’s (LOW) dropped 4%. Goldman removed the name from its ‘conviction buy’ list.

SunPower (SPWR) dropped 4%. Investors took profits after the stock gained more than 30% last week.

Mylan (MYL) dropped 13%. Questions about quality control at the company’s West Virginia plant dragged down shares.

Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On July 27th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (POT), (AA), (BAC), (AAPL), (FXI), (SBUX); Seymour's Firm Is Short (PBR); Najarian Owns (UNH) Calls; Najarian Owns (BTU) Calls; Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (MS) & Short (MS) Calls; Najarian Owns (MSFT) & Short (MSFT) Calls; Najarian Owns (V) & (V) Short Calls; Najarian Owns (WNR); Najarian Owns (YHOO) Call Spread; Terranova Owns (MCD), (AMZN), (MSFT); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (TBT), (WMT); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (USO), (IJR), (IYR), (IWM), (MDY), (SPY)