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More Hot Trades

Tuesday, 23 Mar 2010 | 6:07 PM ET

The show was just so jam packed with trades we needed more room. Get the latest plays on Red Hat, the return of M&A and Darden's impressive earnings!

TAKE YOUR POSITION: RED HAT

Shares of Red Hat have been red hot this past year. But will the latest earnings report justify the gains?

Options action suggests the stock could go even higher, reveals Pete Najarian.

OZM Shares Up 5% YTD
Why Och-Ziff will benefit from more M&A, with Gary Kaminsky and the Fast Money team.

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PLAYING THE RETURN OF DEALMAKING

With mid-size acquisitions reaching $28.8 billion in 2010, according to Dealogic, which stocks should be on your radar?

What’s the play?

If you believe the M&A market is back, I’d trade it with a long position in Och-Ziff, counsels Gary Kaminksy.

Or check out Fortress and/ or Blackstone , says Tim Seymour.

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AFTER HOURS ACTION: DARDEN

In the after market shares of Darden slipped modestly as investors took profits after the owner of the Red Lobster and Olive Garden restaurants, posted quarterly profit that beat Street estimates.

The company raised its fiscal 2010 earnings per share target to $2.86 to $2.92 from a range of $2.78 to $2.86 predicted in mid-February. It also said it expected sales at established restaurants to fall 2.5 percent in 2010, versus its prior call for a decline of 3 percent

They said improving consumer sentiment translated into more visits from diners.

What’s the trade?

I’d go downstream and trade it with a long position in Pactiv , says Brian Kelly.


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Trader disclosure: On March 23, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (AA) Call Spread; Najarian Owns (AKS) Call Spread; Najarian Owns (CLF) Call Spread; Najarian Owns (TCK); Najarian Owns (TEVA); Najarian Owns (MYL); Najarian Owns (F) Call Spread; Najarian Owns (INTC) Calls; Najarian Owns (TIE) Call Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (BAC) Call Spread; Najarian Owns (C) Calls; Najarian Owns (F) Calls; Najarian Owns (RHT) Calls; Najarian Owns (TIE) Calls; Najarian Owns (YHOO) Call Spread; Terranova Is Short (CAL), (UAUA), (GOOG), (GS); Terranova Owns (QCOM), (APA), (TER), (BEAV), (AMSC); Terranova Owns (GS) Puts; Terranova Is Long Crude Oil May Futures; Cortes Is Short Euro; Grasso Owns (AAPL), (ABK), (ASTM), (BA), (BAC), (BGP), (C), (COST), (CSCO), (PFE), (PRST), (WMT), (JPM), (NEM); Edwards Owns (TM); Edwards Owns (AAPL) For Clients; Edwards Owns (F) For Clients; Edwards Owns (CSCO) For Clients; Edwards Owns (GOOG) For Clients; Edwards Owns (JCG) For Clients; Edwards Owns (INTC) For Clients; Edwards Owns (MSFT) For Clients; Edwards Owns (QQQQ) For Clients; Edwards Owns (RIMM) For Clients; Edwards Owns (SPY) For Clients; Seymour Owns (AAPL), (BAC), (BX), (CHL), (TIE); Seygem Asset Management Owns (VALE)

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Kanundrum Capital Is Long U.S. Dollar
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Stuart Frankel & Co. Inc. And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. Inc. And Its Partners Are Short (CL)





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BX
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DRI
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FIG
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OZM
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RHT
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