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The Word on Fedex, Take-Two & More...

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Find out how traders are making money from Fedex earnings, Take-Two and steel. Our guys bring you the latest strategies and insights, straight from the floor.


GETTING AHEAD OF FEDEX:
The news: FedEx (FDX) reports 3rd quarter earnings Wednesday, before the bell.
The word: Guy Adami says the Street is looking for $1.32 and that number is a pre-announced number from December. There have been 4 upgrades since then, so if they don’t meet estimates the stock will get clobbered.

GRAND THEFT TRADE.
The news: Shares of Take-Two Interactive Software (TTWO) jump after the troubled video game maker says it may sell itself.
The word: Jeff Macke says the stock was up 8% today. In the past Jeff had predicted that TTWO would be bought at $25 and he sticks by that.

WHAT'S WORKING: STEEL:
The news: Steel stocks are surging amid reports of a potential Korean steel producer POSCO (PKX) takeover
The word: Eric Bolling says it's all about hot rolled steel. Eric likes Commercial Metals Company (CMC) and Metal Management (MM). One is a scrap metal play the other is a steel play.

WHEN THE CHIPS ARE DOWN
The news: The market rallies but chips which have done well lately were weak on a relative basis.
The word: Tim Strazzini says there was a bearish article in Baron’s on STM Microelectronics (STM), some negative news out of Japan, and Wall Street is taking note that the semi’s are outperforming. Tim says there is more negative news to come in the space but the risk reward is favorable. Stay in these stocks.

TAINTED DOG FOOD
The news: Grocery shares rise in spite of Canada’s Menu Foods issuing a massive recall of wet pet food linked to at least 10 pet deaths.
The word: Jeff Macke says this private label manufacturer makes dog food for Kroger (KR),Safeway (SWY) and Wal-Mart (WMT). Jeff says Petsmart (PETM) is the trade because concerned pet owners will seek out the store asking what food is safe.

WAR & MARKETS:
The news: The Iraq War enters it’s 5th year this week.
The word: Guy Adami says Armor Holdings (AH) is up a whopping 545% since the war started. Guy also believes DRS Technologies (DRS) will do well with homeland security and he still likes Boeing (BA) and Lockheed (LMT).

Symbol
Price
 
Change
%Change
RCM
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XCS
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CMC
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FDX
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KR
---
LMT
---
MM
---
PETM
---
1002
---
STM
---
SWY
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TTWO
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WMT
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Questions? Comments? fastmoney@cnbc.com

Trader disclosure:
On MAR 19, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders.
Bolling Owns (CVX), Gold, Silver, Soybeans, is Short Corn. Strazzini owns (CHK), (EWG), (STM) GE is the parent company of CNBC.