Arcelor Mittal (MT) popped 7%. The world’s largest steelmaker said it may shut down two of its Siberian coal mines to save costs amidst the global slowdown in demand. - I think the stock has upside, speculates Tim Seymour.
Chesapeake Energy (CHK) popped 3%. The stock climbed as the commodity itself made gains. - I think it could go higher from here, says Guy Adami.
DryShips (DRYS) popped 28%. The shipper won a 3- year contract from Petrobras for exploration in the Black Sea. - Jeff Macke doesn't know what to say.
Valero Energy (VLO) popped 5%. The refiner won a bid to buy ethanol plants from VeraSun. - These have been some great days for this firm, explains Pete Najarian.
US Steel (X) popped 9%. The steelmaker popped as auto suppliers got up to $5 billion in government assistance. - The price action suggests to me it goes higher, says Guy Adami.
Vimpel-Communications (VIP) popped 13%. Russia based companies advanced broadly on oil’s rally and this firm went along for the ride. - A stable ruble is good for this stock, explains Tim Seymour.
Brocade Communications (BRCD) popped 4%. RBC Capital upgraded the firm to “outperform” from “sector perform.” - Nice move, says Pete Najarian.
DROPS (stocks that slid lower)
Morgan Stanley (MS) dropped 13%. Moody’s downgraded approximately $1.2 billion in structured securities. - It probably wan't Moody's. I think investors wanted an excuse to take the stock lower, muses Jeff Macke.
Prudential Financial (PRU) dropped 25%. Moody’s downgraded its senior debt rating due to investment losses and further capital concerns. - That's a big drop, says Pete Najarian.
China Mobile (CHL) dropped 4%. The world’s largest wireless carrier reported its fourth-quarter numbers fell short of expectations and the company will face new challenges. - I think this stock is good to own for the long term, says Tim Seymour.
Expedia (EXPE) dropped 6%. JPMorgan downgraded the firm to “neutral” from “overweight” citing increased competition and price wars. - I didn't even know they were still in the game, bristles Jeff Macke.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
Trader disclosure: On Mar. 19th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (BAC), (EEM), (FXI), (VIP), (TS); Seymour's Firm Owns (PBR); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Macke Owns (GE), (SDS), (MOS); Macke Is Short (BRK.b); Najarian Owns (C) Call Spread; Najarian Owns (GDX); Najarian Owns (GD) Call Spread; Najarian Owns (GLD) Put Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (TGT) Call Spread; Najarian Owns (WFC) & (WFC) Puts; Najarian Owns (XHB) Call Spread; Najarian Owns (MCD) Calls