Eastman Chemical announced its second quarter profits more than doubled, as sales and margins rebounded thanks to global markets.
Speaking on Friday's Fast Money Halftime Report, CEO James Rogers says sales have been strong around the world, but especially in Latin America. He is really excited about Brazil, where he notes its economy is so strong, it didn't experience a downturn last year. To play this emerging market, Rogers expects to have some inorganic growth there by way of acquisitions within the next 12 months.
Watch the video to see the full interview.
What's the Trade?
"Investors might be too focused on China and not enough on Latin America," says Steve Cortes, founder of Veracruz, adding that he's buying Bancolombia, which hit an all-time high earlier this week.
CALL THE CLOSE
"I'm staying small," says Patty Edwards of Storehouse Partners. "I don't like the fact that we couldn't get above 1113."
Steve Cortes of Veracruz is "very bullish" on Freeport-McMoRan Copper & Gold .
Jon Najarian of optionMONSTER.com likes that the VIX is much lower than it was last quarter at this point in the earnings cycle. He thinks the market could push higher.
Cleary the natural resource trade is "back on," says Joe Terranova of Vitrus Investment Partners. With copper pushing higher, he recommends going that route.
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Trader disclosure: On July 30, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (AMZN), (EMC), (CREE), (BRCM), (LRCX), (COP), (AXP), (BMO), (CSX), (PEP), (CVS), (GS), (PCP), (C), (APA), (FCX), (JOYG), (MMM), (MOS), (UAUA), (WYNN), (GOOG), (BBY), (SU), (KOL), (XBI), (BAX), (JNPR), (UAUA), (RIMM); Jon Najarian owns (NYX), (CBOE), (CME), (ARNA), (AAPL), (TXN); Cortes owns (NDAQ), (GS), (MS), (IAI), (RSX), (CIB), (FCX); Cortes is short Japanese Yen; Cortes owns Crude Oil; Cortes is short Gold; Cortes is short the S&P500; Cortes is short US Treasuries
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