Pros: 3 Stocks To Put On Your Radar, Right Away
The Fast Money pros are always scouring the market looking for opportunity and they’ve just spotted 3 stocks they say you should get onto your radar, pronto!
On television we call these the Fast Money Top 3 – the trades follow.
Williams-Sonoma landed on the trader radar after quarterly results beat Wall Street expectations with the company raising its full-year profit outlook.
Williams-Sonoma expects to earn between $2.44 and $2.51 per share for the year, up from its previous outlook of $2.42 to $2.49 per share.
“I’d hold this stock long,” says trader Joe Terranova, “but use $40 as a stop.”
Terranova likes the company, especially the gains in market share at it's Pottery Barn and West Elem stores.
However, he's concerned that some of the stock’s recent gains may be due to short covering. “Short interest had been rising over the past several weeks ahead of earnings,” he explains. Hence the tight stop.
Jon Najarian suggests getting Emeritus on the radar as well as other senior living communities after Health Care REIT announced plans to buy Sunrise Senior Living for about $845 million in an all-cash deal.
Health Care's all-cash $14.50 per share offer represents a 62.4 percent premium to Sunrise stock's Tuesday close.
"That's a pretty sizable premium," says Najarian. "It's a stock we all wish we were holding."
Senior living service providers have attracted investor interest over the last few years with demand for these facilities expected to grow as the population ages.
Also, eBay also landed on the trader radar after the company’s PayPal online payments service inked a deal with Discover Financial Services, extending its reach beyond the Web and into the physical world.
Under the agreement PayPal will issue payment cards to its more than 50 million active users in the United States next year, which they can use to buy from merchants that already use Discover Network,
“This opens up their business dramatically,” says trader Stephen Weiss. “It’s a brilliant move. Keep an eye on it.”
Posted by CNBC's Lee Brodie
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Trader disclosure: On August 22, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long SBUX; Joe Terranova is long VRTS; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long CSTR; Joe Terranova is long CHKP; Joe Terranova is long EMC; Joe Terranova is long NXPI; Steve Weiss is short: AAPL PUTS; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long XLU
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