Pops & Drops: FedEx, Morgan Stanley...

Following are the day’s biggest winners and losers. Find out why shares of FedEx and Arcelor Mittal popped while Morgan Stanley and China Mobile dropped.

POPS (stocks that jumped higher)

FedEx (FDX) popped 5%. The package shipper said they see a more stable 2009 and announced $1 billion in cost cutting measures. - I'd stay away, says Guy Adami.

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.

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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