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Pops & Drops: Orbitz, Freeport....

Following are moves you might have missed. Find out why shares of Orbitz and Freeport-McMoRanpopped while Qualcomm and Deltadropped.

POPS (stocks that jumped higher)

Orbitz (OWW) popped 10%. The travel site announced an app for iPad designed exclusively to ‘take advantage of the tablet’s format and interface,” said CEO Barney Harford. - I wouldn't buy it with your money, says Guy Adami.

Freeport-McMoRan (FCX) popped 2%. The ex-dividend date for this stock is Wednesday July 13, 2011 – owners as of Tuesday’s close will receive 25 cents per share. - And it was a risk off day, muses Karen Finerman.

Sears (SHLD) popped 3%. Chatter on the Street suggested a big holder such as Eddie Lampert might acquire more shares - I think it was a short squeeze, says Mike Khouw.

DROPS (stocks that slid lower)

Qualcomm (QCOM) dropped 3%. Rival Novellus spooked investors with a weaker than expected outlook. CEO Richard Hill said he was cautious and uncertain about the next quarter and took down estimates. - Stephen Weiss is a buyer of the dip.

Delta (DAL) dropped 4%. Oil climbed on Tuesday and quite often airline stocks trade inversely to the price of crude. - It's one of my least favorite airlines, says Joe Terranova.

Baidu (BIDU) dropped 2%. Perhaps the move was technical with the stock trading near 149, a level of strong past resistance.

Deere (DE) dropped 2%. As investors grow more fearful that financial woes in Europe could hinder the recovery, they’re selling off global growth names such as this stock. - I'm a buyer of this stock around $80, says Stephen Weiss.




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Trader disclosure: On July 12 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Nathan Owns (BAC) November Calls; Nathan Owns (CSCO) August Calls ; Nathan Owns (C) July Puts; Nathan Owns S&P 500 July Puts; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova owns (XOM); Terranova owns (HAS); Terranova owns (DIS); Terranova owns (WFM); Terranova owns (LULU); Terranova owns (MSFT); Terranova owns (TM); Terranova owns (JWN); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (MA); Terranova owns (BX); Terranova owns (CAT); Terranova owns (VRTS); Terranova owns (AAPL); Terranova owns (F); Terranova owns (CVI); Terranova owns (IBM); Terranova owns (FCX); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm owns (BAC) leaps and Finerman Owns (BAC); Finerman Owns (GOOG); Finerman's Firm owns (JPM) leaps and Finerman Owns (JPM)

For Mike Khouw
No Disclosures

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