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Take Your Position: This Week's Earnings

With so many heavy hitters releasing earnings this week, what will the traders be watching?

Procter & Gamble

Procter & Gamble reports earnings Tuesday before the market opens.

P&G's broad portfolio is full of things people use every day, from Crest toothpaste to Gillette shavers to Charmin toilet paper, offering a gauge of how households are managing their weekly budgets.

Results likely will also reflect how much discounting and bumped-up marketing are biting into profit margins for a Wall Street bellwether.

By the numbers, analysts polled by Thomson Reuters expect the company to earn 73 cents per share on revenue of $19.1 billion.

What’s the trade?

Colgate’s results earlier don’t bode well for P&G, says Brian Kelly.

I’m seeing clients working out of P&G above $62, counsels Steve Grasso.

If you want to play the space I’d do it with Unilever , says Tim Seymour.

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PG
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Pfizer reports results before the stock market opens Tuesday.

Getting new drugs approved and boosting revenue outside core Western markets is crucial for Pfizer. Besides the recent generic competition, Pfizer loses U.S. patent protection near the end of 2011 for Lipitor, the world's top-selling drug with about $13 billion in annual sales. In May, two companies got approval to sell copycat versions in Canada.

That's helped drive down shares from a high of about $20 in January to only $15.

By the numbers Thomson Reuters expect earnings per share of 52 cents on revenue of $16.65 billion.

What’s the trade?

I think money rotates out of Merck and into Pfizer, says Joe Terranova.

Symbol
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PFE
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Trader disclosure: On Aug 2, 2010, 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 (AAPL), (F), (GOOG), (POT), (BAC), (C); Grasso owns (ASTM), (ABK), (BAC), (BA), (BGP), (C), (CSCO), (DYN), (JPM), (LPX), (MO), (NDAQ), (PFE), (PRST); Terranova owns (AKAM), (APA), (AXP), (BAX), (BBY), (BMO), (C), (COP), (CREE), (CSX), (CVS), (EMC), (FCX), (GOOG), (GS), (JNPR), (JOYG), (KOL), (MMM), (MOS), (MSFT), (PCP), (PEP), (PFE), (POT), (RIMM), (TER), (SKX), (SU), (UAUA), (WYNN), (XBI); Edwards own (RIMM)

For Brian Kelly
Accounts managed by Kanundrum Capital own (CM)
Accounts managed by Kanundrum Capital own (BMO
Accounts managed by Kanundrum Capital own Swiss Franc
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (BAK)
Accounts managed by Kanundrum Capital own (ORI)
Accounts managed by Kanundrum Capital own (UNG)
Accounts managed by Kanundrum Capital own (PFE)
Accounts managed by Kanundrum Capital are long (JPM)
Accounts managed by Kanundrum Capital are long (GLD)
Accounts managed by Kanundrum Capital are long (OIH)
Accounts managed by Kanundrum Capital are long (RIMM) call spread
Accounts managed by Kanundrum Capital are short the US Dollar

For Steve Grasso
Stuart Frankel & Co and it’s partners own (BAX)
Stuart Frankel & Co and it’s partners own (COG)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (DHR)
Stuart Frankel & Co and it’s partners own (DYN)
Stuart Frankel & Co and it’s partners own (ESV)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (LEN)
Stuart Frankel & Co and it’s partners own (MERC)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (SYMC)
Stuart Frankel & Co and it’s partners own (TBT)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (TRV)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners are short (QQQQ)
Stuart Frankel & Co and it’s partners are short (KEG)

For Joe Terranova
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 Patty Edwards
Edwards own (FCX) for clients
Edwards own Gold for clients
Edwards own Platinum for clients
Edwards own (VXX) for clients
Edwards own (AAPL) for clients
Edwards own (PFE) for clients
Edwards own (F) for clients
Edwards own (GOOG) for clients
Edwards own (WMT) for clients
Edwards own (VLO) for clients
Edwards own (AKAM) for clients
Edwards own (WFMI) for clients

For Itay Michaeli
Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from ArvinMeritor, Inc., BorgWarner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from ArvinMeritor, Inc..

Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc in the past 12 months.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, nonsecurities-related: ArvinMeritor, Inc., Borg Warner Inc, Lear Corporation, Magna International Inc.


For David Riedel
***No Disclosures***

For Mike Khouw
***No Disclosures***

For Jon Najarian
***No Disclosures***

For Carter Worth
***No Disclosures***

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