A number of U.S.-based companies are benefiting from increased pricing power, as the U.S. dollar hit a three-year low against a basket of currency on Friday.
A weak dollar makes U.S. goods less expensive in foreign markets, helping to boost U.S. exports. In turn, several U.S. companies hit have new 52-week highs, including 3M , Boeing , Caterpillar , DuPont , Goodyear Tire & Rubber and Philip Morris International .
From the options market, trader Jon Najarian said few people are getting out of these names, even as they hit their highs. The optionMONSTER.com co-founder said it seems people want to stay in these stocks because they have high dividend yields. Many people are enhancing the yield by selling calls, especially into earnings, he said.
Patty Edwards, chief investment officer at Trutina Financial, said she's been playing the weak dollar, pricing power plays for some time. Of the aforementioned stocks, she likes tobacco giant Philip Morris in particular. No matter what, she thinks people are going to continue to smoke. Edwards said she also likes Coca-Cola , which gets 65 percent of its revenues overseas. Should the dollar remain weak, she thinks Coke will continue to benefit from its current business model.
Caterpillar gained on Friday after soundly beating first-quarter earnings estimates and giving a better forecast for the full year. The heavy-equipment maker's net income was $1.84 a share on sales of $12.95 billion, beating estimates for $1.31 a share on sales of $11.69 billion. Virtus Investment Partners' Joe Terranova noted CAT's seeing a lot of growth in emerging markets, including and especially Asia. Had natural disasters not struck Japan in early March, CNBC's Melissa Lee noted Cat might have seen an additional $100 million in operating profit.
Terranova added that Cat is also benefiting from growth in the mining space. Earlier this year, the Peoria, Ill.-based company announced plans to buy mining equipment maker Bucyrus Internationalfor $7.6 billion. Caterpillar is expected to close on the deal later this year. To play the current strength in mining, Terranova would consider Joy Global . With a $10.59 billion market cap, he thinks it's an attractive takeover target.
---
CALL TO THE FLOOR: THE KNOT
Can't get enough royal wedding news?
Well, there's a wedding website to get all the nuptial details. It's called The Knot .
David Liu, chairman and CEO of the New York City-based company appeared on Friday's "Fast Money Halftime Report." Watch the video to see what he had to say.
_____________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to .
Trader disclosure: On April 29, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns ( TCK); Terranova owns (SLV); Terranova owns (NFLX); Terranova owns (APA); Terranova owns (OXY); Terranova owns (FCX); Terranova owns (BAX); Terranova owns (IBM); Terranova owns (HOC); Terranova owns (UPL); Terranova owns (AKAM); Terranova owns (V); Terranova owns (CVI); Terranova owns (BX); Terranova is long (AAPL) April 350 puts; Jon Najarian Owns (AMSC), Is Short (AMSC) Calls; Jon Najarian Owns (BBBB), Is Short (BBBB) Calls; Jon Najarian Owns (CIGX), Is Short (CIGX) Calls; Jon Najarian Owns (HK), Is Short (HK) Calls; Jon Najarian Owns (IBM), Is Short (IBM) Calls; Jon Najarian Owns (AET), Is Short (AET) Calls; Jon Najarian Owns (MS), Is Short (MS) Calls; Jon Najarian Owns (VHC), Is Short (VHC) Calls; Jon Najarian Owns (UA), Is Short (UA) Calls; Jon Najarian Owns (SWKS), Is Short (SWKS) Calls; Jon Najarian Owns (ZSL) Calls; Jon Najarian Owns (CELG) Calls
For Joe Terranova:
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (DOM)
For Patty Edwards
Edwards Owns (PM)
Edwards Owns (AAPL) For Clients
Edwards Owns (BA) For Clients
Edwards Owns (GLD) For Clients
Edwards Owns (LEG) For Clients
Edwards Owns (MSFT) For Clients
Edwards Owns (PM) For Clients
Edwards Owns (SBUX) For Clients
Edwards Owns (SLV) For Clients
Edwards Owns (VZ) For Clients
Edwards Owns (WFMI) For Clients
Edwards Owns S&P 500 For Clients
Edwards Owns Nasdaq 100 For Client
For Rich Ilczyszyn
***No Dislcosures
For Rebecca Patterson
***No Disclosures
CNBC.com with wires.