ArcelorMittal (MT) popped 4%. A senior exec at the steel company said he expected steel prices to remain high throughout 2008. – I love this steel name, says Guy Adami.
Apple. The company topped Fortune Magazine's list of America's Most Admired Companies, up from #7 last year. Apple got it highest marks for innovation, people management, and quality of products.
Supervalu (SVU) popped 7%. The supermarket chain reported a higher than expected profit and forecast higher same store sales. – Take profits, counsels Jeff Macke.
MF Global (MF) popped 12%. The futures brokerage that fell sharply last week over major losses incurred by a "rogue wheat trader" recovered somewhat today after the CEO and other upper management bought up shares on the dip. – Interesting, says Pete Najarian.
Exelon (EXC) popped 4%. The energy company was upgraded to "Buy" from "Hold" at Jefferies.
Monsanto (MON) popped 3%. The ag name rose for no clear reason.
ArthroCare (ARTC) popped 7%. The surgery equipment firm hired Goldman Sachs to aid it in seeking "strategic alternatives."
Foreclosure Fiestas. Police in Bakersfield, California broke up a drunken party taking place in a foreclosed home over the weekend, a scenario that has been playing out across the country as more homes are left abandoned.
DROPS (stocks that slid lower)
Google (GOOG) dropped 3%. In a direct challenge to Google's internet-based software platforms, Microsoft unveiled online versions of Exchange and Sharepoint business software. – Stay away, says Jeff Macke.
LDK Solar (LDK) dropped 10%. Barron's raised eyebrows over this Chinese solar name's accounting of its silicon inventory. – Goldman downgraded it today, adds Pete Najarian.
Ambac (ABK) dropped 12%. The bond insurer said its writedown losses continued into 2008. – Hope is fading, says Karen Finerman
Advanced Micro Devices (AMD) dropped 6%. The Semiconductor Industry Association reported that global chip sales fell 3.6% in January. – Sell any rally in this stock, says Guy Adami.
Lennar (LEN) dropped 10%. Homebuilders were slammed across the board, Monday. – Too much debt, says Karen Finerman.
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Trader disclosure: On Mar. 3, 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 (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"