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Pops & Drops: Krispy Kreme, Sony...

Following are moves you might have missed. Find out why shares of Krispy Kreme Doughnuts popped while Wabco Holdings and Caterpillar dropped.

POPS (stocks that jumped higher)

Krispy Kreme Doughnuts (KKD) popped 25%. The company reported its highest quarterly profit in more than seven years, beating analysts' estimates. - I think there's another day in the move but then I'd put a short position on again, says Guy Adami.

DROPS (stocks that slid lower)

US Steel (X) dropped 2%. Anticipation of a broad market sell-off may have sent investors running for the exits in this name.

Wabco Holdings (WBC) dropped 4%. The company posted market-beating quarterly results, and raised its full-year outlook, driven by strong worldwide growth in bus and truck production. - Global growth trades took a hit on Monday, reminds Karen Finerman.

Sony (SNE) dropped 2%. Management revised estimates saying the earthquake and tsunami probably will result in a $3.2 billion loss, the company’s biggest in 16 years. - I'd stay away, says Tim Seymour.

Boeing (BA) dropped 2%. Published reports predicted another delay for the aviation giant, this time in the delivery of its 747-8 Freightliner planes.

Caterpillar (CAT) dropped 3%. Resource related stocks took a hit after new data released over the weekend showed China’s PMI hit a 10-month low. - Again, Global growth trades took a hit on Monday, says Karen Finerman.

Delta Airlines (DAL) dropped 3%. The US Department of Justice contacted this airline as well as others concerning an anti-trust investigation involving flight reservations.







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Trader disclosure: On May 23, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM); Terranova owns (KSS); Terranova owns (CVI); Terranova owns (OXY); Terranova owns (TM); Terranova owns (BJ); Terranova owns (DIS); Terranova owns (PFE); Terranova owns (V); Terranova owns (HPQ); Terranova owns (FLX); Terranova owns (JPM); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (VRTS); Terranova is short (DELL); Weiss owns (DRR); Weiss owns (UUP); Weiss owns (MRK); Weiss owns (DE); Weiss owns (BRCM); Weiss owns (AKAM); Weiss owns (KO); Weiss owns (ETP); Weiss owns (NS); Weiss owns (COP); Weiss owns DVN); Weiss owns (HK); Weiss owns (NAV); Weiss owns (TEVA); Weiss owns (TWM); Weiss owns (QCOM); Weiss owns (MDRX); Weiss owns (VZ); Weiss owns (HAIN); Weiss owns (MSFT); Weiss is short (X); Weiss is short ( AKS); Weiss is short (SHAW); Finerman and Finerman's firm own (AAPL); Finerman and Finerman's firm own (BP); Finerman and Finerman's Firm own (CMI); Finerman's Firm owns (IBM); Finerman owns (C); FInerman owns (JPM); Finerman's Firm owns (JPM) leaps and (JPM); Finerman's Firm owns (TGT); Finerman owns (UNG); Finerman's Firm is short (IWM), (MDY), (SPY); FInermans firm is long S&P Puts, Russell 2000 Puts; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
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Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & URL PLC
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Anthony Scaramucci
Skybridge is a Fund of Funds Manager
Funds held May or May not Own the Recommended Securities

For Regis Philbin
Regis Philbin Owns (WYNN)
Regis Philbin Owns (GS)
Regis Philbin Owns (MU)