Pro Traders: VMWare Results Bode Well for These Other Stocks

In the wake of earnings from VMWare , trader Joe Terranova suggests putting rival Citrix on the radar. "It hasn't traded well but I think it gets a boost from VM's numbers."

Also he thinks Microsoft and Amazon could benefit. "They also compete in the space," he says.

Looking at those numbers, VMWare reported second-quarter profit, excluding items, of 55 cents per share, beating the average Wall Street forecast of 47 cents, according to Thomson Reuters I/B/E/S.

Revenue climbed 37 percent from a year earlier to $921 million, beating analysts' projection for $873 million.

VMware shares rose to their highest in more than a year, $110.70, in extended trade, from their New York Stock Exchange close of $106.02.

"Estimates on the Street are as high as $125 for VMWare," adds Terranova, "and I think it could go there."

In the same space, trader Stephen Weiss is bullish EMC. “I think the stock is cheap and I’m a buyer.”

* You can find our conversation about VMWare about 1:30 into this clip.

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Trader disclosure: On July 19th 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Nathan owns (AMZN) puts; Nathan owns (CSCO) calls; Nathan owns (IBM) puts; Nathan owns (INTC) put flys; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm owns (BAC) leaps and Finerman Owns (BAC); Finerman's Firm owns (JPM) leaps and Finerman Owns (JPM); Finerman’s Firm and Finerman own (MSFT); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Terranova owns (XOM); Terranova owns (HAS); Terranova owns (DIS); Terranova owns (WFM); Terranova owns (LULU); Terranova owns (MSFT); Terranova owns (TM); Terranova owns (JWN); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (MA); Terranova owns (BX); Terranova owns (GS); Terranova owns (DAR); Terranova owns (CAT); Terranova owns (VRTS); Terranova owns (AAPL); Terranova owns (F); Terranova owns (CVI); Terranova owns (IBM); Terranova owns (FCX); Weiss owns (AAPL); Weiss owns (KO); Weiss owns (JPM); Weiss owns (QCOM); Weiss owns (MSFT); Weiss owns (EMC); Weiss owns (UUP); Weiss owns (TBT); Weiss owns (UGL); Weiss owns (AGU); Weiss owns (HBAN); Weiss owns (KEY); Weiss owns (CMA); Kinahan owns (C)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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CNBC.com with wires.