GO
Loading...

Halftime Pt. 2: 4 Earnings Reports 'Fast' Traders Are Watching

With a slew of prominent companies reporting quarterly earnings after the closing bell Wednesday and on Thursday, the Fast Money traders shared what companies they'll be watching and why.

Patty Edwards of Storehouse Partners is taking a good look at Starbucks , which will report after the closing bell Wednesday.

The Seattle-based company has had a "big turnaround," says Edwards. She thinks same-store sales will be a driver for the coffee giant and expects it to be around 6%. Edwards says the company is experimenting with new products, like offering alcohol at some stores and is otherwise competing well with McDonalds , which also offers a gourmet coffee line.

Jon Najarian of optionMONSTER.com will be monitoring online DVD rental company Netflix, which is also expected to report quarterly earnings after the closing bell Wednesday.

It will be interesting to see what it does in after-hours trading, he says, because after the last earnings report, the stock moved "monstrously."

"I like the stock and I do think they continue to outperform," says Najarian. "Watch Netflix. I certainly am."

In the industrial goods space, Brian Kelly of Kanundrum Capital is waiting for Caterpillar to report earnings Thursday morning. The Peoria, Ill.-based company is levered to the mining industry and growth overseas and so he'll listen to what's said about the economy. Kelly thinks CAT is a good bellwether for what's going on in the world.

After the closing bell Thursday, Amazon.com is set to report earnings and Joe Terranova of Virtus Investment Partners thinks it's a buy around $110 or $115 a share.

---
UNUSUAL ACTIVITY: BIOGEN IDEC

Make sure to monitor this biotechnology company, says Jon Najarian of optionMONSTER.com.

Najarian says he has some calls into Cambridge, Mass.-based Biogen Idec , as well as Sanofi-Aventis because Sanofi is rumored to be looking at BIIB. Since the rumor mill first started turning in early July, the stock moved "very dramatically" from 30 cents to $2.50 cents a share.

"Keep an eye on it," recommends Najarian. "Options activity is picking up and that's one of the reasons we're in the stock right now."

---
CALL TO THE FLOOR: FUTURE OF WALL STREET

Shortly after President Barack Obama signed the financial regulatory reform bill into law Wednesday, Stifel Financial CEO Ron Kruszewski joined us live on the Fast Money Halftime Report to talk about it's impact. Watch the video to see what he had to say.

---
CALL THE CLOSE

"I don't like this S&P here," says Patty Edwards of Storehouse Partners. "We're still below the 50-day. Stay away."

"If you're long, it's a lot easier to define where you're wrong," says Joe Terranova of Virtus Investment Partners. "If you're short, I don't know where it is that you do that."

Jon Najarian of optionMONSTER.com expects Federal Reserve Chairman Ben Bernanke's comments to Congress Wednesday afternoon will cause the markets to rise.

Brian Kelly of Kanundrum Capital is watching Australian Dollar/Japanese Yen cross, which he notes is trading one-for-one with the S&P 500.

"Whichever way it goes," says Kelly of the cross. "That's the way the market is going to go and I'll be involved on either side."

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our Web site send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On July 21, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kelly owns (BP) puts; Kelly is short (GS); Jon Najarian owns (AAPL) calls; Jon Najarian owns (BIIB) and (BIIB) calls; Jon Najarian owns (SNDK) calls; Terranova owns (EMC), (CREE), (CRCM), (LRCX), (COP), (AXP), (BMO), (CSX), (PEP), (CVS), (GS), (PCP), (C), (APA), (FCX), (JOYG), (MMM), (MOS), (GLD), (UAUA), (WYNN), (GOOG), (BBY), (SU), (KOL); Jon Najarian owns (AAPL) calls; Jon Najarian owns (BIIB) and (BIIB) calls; Jon Najarian owns (SNDK) calls

For Brian Kelly
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (GME)
Accounts managed by Kanundrum Capital own (BIG)
Accounts managed by Kanundrum Capital own (NWL)
Accounts managed by Kanundrum Capital own Japanese Yen
Accounts managed by Kanundrum Capital are short (BA)
Accounts managed by Kanundrum Capital are short (USO)
Accounts managed by Kanundrum Capital are short (GLD)
Accounts managed by Kanundrum Capital are short Aussie Dollar
Accounts managed by Kanundrum Capital are short (KMX)
Accounts managed by Kanundrum Capital are short (FXI)
Accounts managed by Kanundrum Capital are short (EWO)
Accounts managed by Kanundrum Capital are short (EWI)
Accounts managed by Kanundrum Capital are short (JOE)
Accounts managed by Kanundrum Capital are short (RSX)
Accounts managed by Kanundrum Capital are short (SLX)
Accounts managed by Kanundrum Capital are short (CSX)

For Patty Edwards
Edwards owns (AAPL) for clients
Edwards owns (BAC) for clients
Edwards owns (C) for clients
Edwards owns (INTC) for clients
Edwards owns (JNJ) for clients
Edwards owns (JPM) for clients
Edwards owns (MS) for clients
Edwards owns (PEP) for clients
Edwards owns (TXN) for clients
Edwards owns (WMT) for clients
Edwards owns (YHOO) for clients
Edwards owns (SBUX) for clients
Edwards owns (MCD) for clients
Edwards owns (GLW) for clients
Edwards owns (EBAY) for clients
Edwards owns (QCOM) for clients
Edwards owns (USB) for clients
Edwards owns (NOK) for clients
Edwards owns the S&P500 for clients

For JoeTerranova
Terranova works for (VRTS)
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners owns more than 1% of (CASS)
Virtus Investment Partners owns more than 1% of (LDR)
Virtus Investment Partners owns more than 1% of (LPHI)
Virtus Investment Partners owns more than 1% of (MGRC)
Virtus Investment Partners owns more than 1% of (XLB)
Virtus Investment Partners owns more than 1% of (XLP)
Virtus Investment Partners owns more than 1% of (XLY)
Virtus Investment Partners owns more than 1% of (XLI)
Virtus Investment Partners owns more than 1% of (XLK)
Virtus Investment Partners owns more than 1% of (XLU)
Virtus Investment Partners owns more than 1% of (SUBK)
Virtus Investment Partners owns more than 1% of (WDFC)
Virtus Investment Partners owns more than 1% of (YDNT)
Virtus Investment Partners owns more than 1% of (DRYS)

For Chris Mutascio
Stifel Nicolaus managed a public offering for Wells Fargo

CNBC.com with wires

Symbol
Price
 
Change
%Change
AMZN
---
BIIB
---
CAT
---
ETH
---
NFLX
---
MS
---
GS
---
MCD
---

Featured

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET