Call Buying in 'This' Financial Suggests It’s Got Legs: Najarian
Following are Halftime's Top 3 Trades. These stocks are front and center on our pros' radars.
Are they on yours?
The catalyst:KKR bucked a declining trend among alternative asset companies to report a sterling 73.4-percent jump in quarterly earnings on Friday, driven by successful exits from private equity investments and a rise in the value of its portfolio
The trade: I’m seeing an incredible amount of option activity in this name, says Pete Najarian, co-founder OptionMonster.com. I think it has legs.
The catalyst:Amgen reported far higher-than-expected second-quarter profit and revenue on strong demand for many of its drugs, and the world's largest biotechnology company raised its full-year earnings and revenue forecasts.
The trade: The stock is breaking out, says Josh Brown, author of The Reformed Broker blog. I don’t see any resistance. I love this stock as well as most biotech.
The catalyst:Sprintraised its earnings forecast for the year and reported higher-than-expected quarterly revenue as its wireless customers increased spending, and its shares rose nearly 16 percent.
The trade: I’m long, says Steve Grasso, director of institutional sales trading at Stuart Frankel. Enough said.
Posted by CNBC's Lee Brodie
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Trader disclosure: On July 26, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova is long (VRTS); Terranova is long (MCD); Terranova is long (USB); Terranova is long (GS); Terranova is long (JPM); Terranova is long (YHOO); Terranova is long (SBUX); Terranova is long (WFM); Terranova is long (AAPL); Terranova is long (NXPI); Brown is long (TGT); Brown is long (XBI)
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