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Fast Money

Stocks On The Move: Callaway, E*Trade...

Following are the day’s biggest winners and losers. Find out why shares of Callaway Golf and Cardiome Pharma popped while E*Trade and Tesoro dropped.

POPS (stocks that jumped higher)

Callaway Golf (ELY) popped 3%. FTN MidWest Research Securities upgraded the golf company to "buy'' from "neutral.'' – It could be attractive, says Guy Adami.

Stock Pops & Drops

Cardiome Pharma Corp. (CRME) popped 31%. This Canadian biotech posted positive data from a Phase 2 trial of its abnormal heart rhythm drug. – They could be a takeover target, speculates Pete Najarian.

First Cash Financial Services (FCFS) popped 13%. The pawn shop jumped after announcing it would increase its buyback to 3 million shares, from 1 million. – Take gains, counsels Jeff Macke.

BladeLogic (BLOG) popped 16%. The data-center automation technology firm was purchased by BMC Software for $800 million. – They got bought. End of story, says Pete Najarian.

DROPS (stocks that slid lower)

National City Corp. (NCC) dropped 43%. Shares of the Cleveland-based bank plunged after JPMorgan's $2/share buyout of Bear Stearns. – They're looking at a potential deal with JP Morgan but I don’t think NCC is the first thing on their mind right now, says Joe Terranova.

PMI Group (PMI) dropped 10%. The nation's largest mortgage insurer posted a $1 billion quarterly loss and slashed its dividend 76%. – I think it could go lower still, says Guy Adami.

E*Trade (ETFC) dropped 9%. An analyst at UBS downgraded E*trade-competitor TDAmeritrade to "Neutral" from "Buy. – It’s time to move along, says Jeff Macke.

Jeffries Group (JEF) dropped 8%. Moody's cut the rating outlook on the investment bank to stable from positive. – I think this stock is getting cheap, observes Pete Najarian.

Tesoro (TSO) dropped 10%. The refiner fell sharply Monday, after Goldman Sachs removed Marathon and Holly Corp from the conviction Buy list and downgraded both to "Neutral." – I think refiners are about to turn higher, says Joe Terranova.

New Ireland Fund (IRL) dropped 3%. No luck for IRL: down Monday, and cut in half over the last 12 months. This follows an explosive 5-year run, which saw a 230% increase. – I prefer American companies doing business over there, says Jeff Macke.

Google (GOOG) dropped 4%. The internet search giant continues its drift down towards $400 per share. – It could be interesting, says Guy Adami.

Freeport McMoRan (FCX) dropped 7%. Despite gold popping above $1000 again Monday, this miner was down along with several other names in the space. – I like this stock, says Joe Terranova.

St. Patrick's Day Drinking. According to Bloomberg, Ireland Prime Minister Bertie Ahern has called for a crackdown on drinking in Ireland. Consumption of alcohol in Ireland is up almost 50% in the last 20 years.

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Trader disclosure: On Mar.17, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Macke Owns (YHOO), (INTC), (EMC); Pete Najarian Owns (AAPL), (C), (CSCO), (ETFC), (MS), (MSFT), (XLF), (YHOO); Pete Najarian Owns (COP) Calls, (GS) Calls; Pete Najarian Owns (LEH) Puts, (XLB) Puts; Pete Najarian Owns (MF) And (MF) Puts