Bullish on Polycom’s fundamental story two months ago, “Fast Money” trader Karen Finerman watched her trade pay off Tuesday as the stock rallied on strong earnings.
“You don’t jump in right here, but the story is very much intact, and the valuation’s very attractive. They have a ton of cash,” she said. “Everything I said then, still true.”
Finerman also reminded viewers of the stock in December on “Pops & Drops.”
Polycom beat fourth-quarter expectations, posting net income of $49.6 million, or 28 cents per share. Its stock price closed up 13.2 percent at $20.85.
Finerman, who saw last quarter’s pull-back as an opportunity to buy, noted the company faced increasing competition for voice and video conferencing from the likes of Cisco and Logitech’s Lifesize but was not concerned.
“The pie is growing, so there’s enough for everybody,” she said.
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Trader disclosure: On Jan. 24, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Guy is long Citigroup; Guy is long (GS); Guy is long (INTC); Guy is long (AGU); Guy is long (MSFT); Guy is long (NUE); Guy is long (BTU); Karen is long (JPM); Karen is long (BAC); Karen is long (PLCM); Karen is long (IBM);
For Karen Finerman
Karen’s fund is long (AAPL)
Karen’s fund is long (JPM)
Karen’s fund is long (PLCM)
Karen’s fund is short (SPY)
Karen’s fund is short (MDY)
For Keith McCullough
No disclosures received
For Mike Khouw
No Disclosures received
For Colin Gillis, BGC Financial
For Michael Burns, Lionsgate
For Don Bubar, Avalon Rare Metals
For Matt Hougan, Index Universe
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