2011 Top S&P Stocks: No. 17 CBS
CBS watched its stock soar nearly 40 percent year to date, earning it a No. 17 rating in the 2011 top S&P stocks countdown.
The stock traded in the $26 range Friday, below its 52-week high of $29.68. Its low within the same period was $17.65, with EPS of $1.76.
Trader Steve Grasso said he would follow the trend and buy.
“What happens when a stock makes a 52-week high? They make another 52-week high,” he said.
Grasso pointed to earlier this week, when McDonald’s stock rallied and continued to new highs despite a down market.
The flip side is that a stock will usually fall fast when the momentum breaks.
“You have to be very conscious. Once you start to see that fade, you have to fade the stock immediately,” he said.
CBS, Grasso added, would benefit as media companies duke it out in the online arena.
“In the fight for streaming content, they’re going to be the beneficiary,” he said.
Trader J.J. Kinahan agreed.
“Ride that horse until it’s broken,” he said.
Related Stories
- Slideshow: 10 Top Stocks for the Long-Term Investor
- See More: 2011 Top S&P 500 Stocks
- CBS CEO Moonves: Broadcast TV Not Dead
- Big Mac: Inside the McDonald’s Empire
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Trader disclosure: On Dec. 9, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns D; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU; Karabell is long AAPL; Karabell is long IBM;
Steve Grasso
Stuart Frankel & Co and its partners own CSCO
Stuart Frankel & Co and its partners own CUBA
Stuart Frankel & Co and its partners own GERN
Stuart Frankel & Co and its partners own HPQ
Stuart Frankel & Co and its partners own HSP
Stuart Frankel & Co and its partners own HSPO
Stuart Frankel & Co and its partners own MET
Stuart Frankel & Co and its partners own MSFT
Stuart Frankel & Co and its partners own MU
Stuart Frankel & Co and its partners own NYX
Stuart Frankel & Co and its partners own PRST
Stuart Frankel & Co and its partners own UAL
Stuart Frankel & Co and its partners own XRX
Zack Karabell
Rivertwice is short XLF
Rivertwice is short Smh
Rivertwice is long DD
Patty Edwards
Trutina Financial is long APPLE (AAPL)
Trutina Financial is long SPDR GOLD TRUST (GLD)
Trutina Financial is long MICROSOFT (MSFT)
Trutina Financial is long INTEL (INTC)
Trutina Financial is long TEXAS INSTRUMENTS (TXN)
Trutina Financial is long DUPONT (DD)
Trutina Financial is long BERKSHIRE HATHAWAY (BRK)
Trutina Financial is long COSTCO (COST)
Willie Williams
No disclosures
Jeff Kilburg
No disclosures
Greg Zuckerman
No disclosures
Meyer Shields
No disclosures
