'Fast Money Pops and Drops': Avoid GM
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 Wednesday.
Pops
General Motors
(GM) - Get Report
popped 4%. Guy Adami said it'll take a lot to settle a labor strike at
American Axle
(AXL) - Get Report
. He said the pop was short-covering and to stay away.
Dillard's
(DDS) - Get Report
was up 15%. Jeff Macke said that when the private-equity bubble burst, Dillard's went "Pfffffffthb." Sell the rip, he said.
InterContinental Exchange
(ICE) - Get Report
jumped 6%. Karen Finerman said it was all about volume, volume, volume. The exchanges love these volatile markets, she said.
Immucor
( BLUD) climbed 10%. Pete Najarian said a great third-quarter number and raised prices are good for a pop.
Drops
Verifone
(PAY)
dropped 19%. Najarian said that when a payment-processing company has accounting issues, it's good for a drop.
Crocs
(CROX) - Get Report
was down 10%. Adami said that JPMorgan downgraded the stock, citing falling U.S. demand. He said he believes Crocs is cheap here.
Yahoo!
(YHOO)
lost 2%. Macke said that Wall Street didn't get the memo when Yahoo! said it's worth more. Sell the company, he beseeched.
Sotheby's
(BID) - Get Report
slipped 10%. Finerman said investors didn't like that the company is expanding into the real estate market.
Bank of New York Mellon
(BK) - Get Report
gave up 5%. Adami said there was a lot of negative preannouncement chatter.