'Fast Money' Pops and Drops: Sharp Focus

Here's what CNBC's "Fast Money" traders had to say about some of the market's biggest movers on their "Pops and Drops" segment Friday.

Pops

Shares of Morgan Stanley(MS Quote - Cramer on MS - Stock Picks) were popping upwards of 5%. Joe Terranova said that this is a "best-in-breed," and that it is a "name you want to own."

Dylan Ratigan said that shares of Gap(GPS Quote - Cramer on GPS - Stock Picks) were up 5% and said it was a "good old pop."

UAL(UAUA Quote - Cramer on UAUA - Stock Picks) was popping up 10%, and according to Zach Karabell, you "could have made a mint." He said that "someone out there is playing these names perfectly."

Alpharma (ALO Quote - Cramer on ALO - Stock Picks) skyrocketed 43%. Jon Najarian said that the company is getting bid on by King Pharmaceutical(KG Quote - Cramer on KG - Stock Picks), and it is unusual that King is trading higher as well. He predicts that the bid will go higher alongside of King's stock.

Terranova advised against trading financial Ambac(ABK Quote - Cramer on ABK - Stock Picks) which is popping 5.6%.

Focus Media(FMCN Quote - Cramer on FMCN - Stock Picks) was popping 3.6%. Karabell weighed in, saying that it is in an "incredibly potent business," with "revenues through the roof."

Drops

Falling 3.8% was DryShips(DRYS Quote - Cramer on DRYS - Stock Picks). Quint Tatro said that although the company has "sold some ships," they are "ultimately below expectations."

Dropping a staggering 27% was Pacific Sun(PSUN Quote - Cramer on PSUN - Stock Picks). Najarian said that this was due to brokerage downgrades which were stimulated by a bad forecast.