Darden Restaurants (DRI) popped 19%. The owner of Olive Garden and Red Lobster beat on third quarter earnings and forecast earnings for the full-year that exceeded expectations. - I like how these guys are running the ship, says Pete Najarian.
Chesapeake Energy (CHK) popped 15%. Shares of the nat gas producer climbed along with the spot price of the underlying commodity. - I'm not sure if this is the best way to play nat gas, says Joe Terranova. I like EOG Resources better.
MetLife (MET) popped 17%. Bank of America upgraded the stock to ‘buy’ partly due to a strong capital “cushion.”
AT&T (T) popped 4%. Investors remained bullish despite a ratings downgrade from S&P to ‘negative’ from ‘stable’.
Oracle (ORCL) popped 10%. The tech titan beat on earnings for the third-quarter and declared its first ever dividend.
Dow Jones Transport ETF (IYT) popped 2%. The transports climbed as commodities rallied on the drop in the dollar.
DROPS (stocks that slid lower)
General Electric (GE) dropped 5%. The parent company of CNBC popped to over $11 this week but then gave back gains despite a positive update from its capital arm. - Jeff Macke doesn't know what to say.
Capital One (COF) dropped 10%. Customers appear to be paying back less of their balances, indicating future losses. - Not good, says Tim Seymour.
Morgan Stanley (MS) dropped 22%. Moody’s downgraded approximately $1.2 billion of their structured securities and analysts expect a first quarter loss for the company. - I wouldn't look at this stock until it falls back into the teens, says Jeff Macke.
FedEx (FDX) popped 8%. The package shipper said they see a more stable 2009 and announced $1 billion in cost cutting measures. - I'm looking forward to seeing what they do, says Tim Seymour.
Xerox (XRX) dropped 17%. The firm cut its outlook for first-quarter earnings.
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Trader disclosure: On Mar. 20th, 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), (AAPL), (BAC), (EEM), (FXI), (TCK); Seymour's Firm Owns (PBR); Terranova Owns (KCE), (FXC), (XBI), (BRCM), (WYNN), (INTC), (JOYG), (DELL), (XOM), (IBM), (POT), (X), (JPM): Terranova Owns (COP) Calls; Terranova Owns (HESS) & (HESS) Calls; Terranova Owns (DIS) & (DIS) Calls; Terranova Owns (AMGN) & (AMGN) Calls; Macke Owns (GE), (SDS), (POT); Macke Is Short (BRK.b); Najarian Owns (C) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (GD) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (TGT) Call Spread; Najarian Owns (XHB) Call Spread