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Pops & Drops: General Dynamics, First Solar...

Following are moves you might have missed. Find out why shares of General Dynamics and First Solar popped while Broadcom dropped.

POPS (stocks that jumped higher)

General Dynamics (GD) popped 4%. The company said it will receive an additional $744 million from the Defense Department, as the government augments a previously awarded contract. - Not too shabby, says Tim Seymour.

United States Natural Gas Fund (UNG) popped 3%. Hot temperatures in the East triggered speculation that more nat gas would be needed by power plants, to generate electricity for air conditioning. - I'd play Apache, or other energy equities, says Joe Terranova, but not the spot price which is tracked by the UNG.

First Solar (FSLR) popped 3%. Solar and alternative energy stocks benefited broadly after Germany announced plans to shutter its nuclear power plants over the next 10 years. - Guy Adami thinks short term it could go higher but in the long term he's bearish.

Radian Group (RDN) popped 4%. Piper Jaffray raised the stock to ‘Over weight’ from ‘Neutral’ citing a stronger position on both credit and capital. - I would not buy, says Joe Terranova, but I wouldn't short either.

Nvidia (NVDA) popped 3%. The company said it had developed new 3D glasses that could be used on a traditional PC. - I think they've got upside, says Zach Karabell.

DROPS (stocks that slid lower)

Broadcom (BRCM) dropped 2%. BMO upgraded the stock to ‘Outperfrom’ with a price target of $50 saying the shares are now priced attractively. - The valuation seems sort of attractive, says Karen Finerman.





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Trader disclosure: On May 31, 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); Adami owns (AGU); Adami owns (C); Adami owns (INTC); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Finerman and Finerman's Firm own (AAPL); Finerman's Firm owns (DIS); Finerman 's Firm owns (JPM) leaps and (JPM); Finerman owns (JPM); Finerman's Firm is short (IWM); Finerman's Firm is short (MDY); Finerman's Firm is short (SPY); Finerman's Firm owns S&P 500 Calls; Finerman's Firm owns S&P 500 Puts; Finerman's Firm owns Russell 2000 Puts

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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