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