Halftime Report

Monday - Friday, 12:00 - 1:00 PM ET

Halftime Report

Next Week Look for New Life in Old Tech

Over the next week or so, quarterly results will grab the spotlight as earnings season kicks into high gear. Of course, nearly every trader will have an eye on Apple, which reports on Tuesday but a whole lot of other companies will also issue their releases.

That includes favorites often talked about on the Fast Money desk. Take a look:

Earnings Calendar 
IBM (IBM)July 18
Intel (INTC)July 19
Microsoft (MSFT) July 21
McDonalds (MCD)July 22
Netflix (NFLX)July 25


Of all the names mentioned above the Fast Money traders are bullish on old tech – Intel and Microsoft .

You read that’s right – Intel and Microsoft - the two tech titans that had become dead money - stuck in the mud trades.

The Fast gang thinks they might be hot again.

Brian Kelly likes Intel because it provides broad tech exposure and he expects to see the rotation into tech continue. But also he likes the stock because the dividend it generates can pay for a hedge – such as a put spread. “It’s almost a free shot,” he says.

Patty Edwards is bullish because, “out of the list above it has the least exposure to Europe and I think Europe is going to be a drag for a lot of companies.”

Jon Najarian recommends it too. “We heard this week that PC sales are not dead. That bodes well for Intel into earnings.”

Jon’s brother Pete Najarian can’t believe the desk left out Microsoft. “I think there’s plenty of upside and they provide a nice dividend yield. I think it’s a key name into earnings.”

And, if you don’t want to play old tech, both Patty Edwards and Pete Najarian also like long McDonald’s. “If you look at results released a few days back from Yum! I’d expect to hear McDonald’s crushed in the Asia markets,” says Najarian.

What do you think? We want to know!


















------------

CASHING IN ON CHIPS: QUALCOMM

After lots of upgrades for Apple ahead of earnings already, how should you game Qualcomm- one of Apple’s big suppliers?

Pete Najarian says this stock is in the sweet spot. "It’s pulled back and that makes it even more attractive. It sits in a great position for upside," he says.

Jon Najarian agrees. "If Apple announces a release date for iPhone 5 during its earnings release - it could really drive this stock," he says.

------------

GOOGLE BULLS READY TO RUN

Analysts appear to be getting more bullish on Google after their latest earnings blew past estimates. (Click here for all the details on Google earnings.) Take a look at the upgrades:

Firm Previous Target   New Target
RBC Capital   $680$790
Needham   $700$725
Oppenheimer    $650$690
Jefferies   $800$830

Brian Kelly thinks these results remind the Street that Google is very much in the game. "It underscores that fact that Google knows how to make money. I’d be concerned if I was Microsoft."

Hear from more about Google from analyst Ken Sena of Evercore. Watch the video now!



______________________________________________________
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 July 15 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian owns (AAPL); Pete Najarian owns (AKAM); Pete Najarian owns (C);Pete Najarian owns (MS);Pete Najarian owns (MRVL);Pete Najarian owns (HPQ);Pete Najarian owns (RSX);Pete Najarian owns (TCK);Pete Najarian owns (VLO);Pete Najarian owns (GE);Pete Najarian owns (PEP);Pete Najarian owns (PFE);Pete Najarian owns (MRK);Pete Najarian owns (TEVA);Pete Najarian owns (TER);Pete Najarian owns (XOM);Pete Najarian owns (F) bonds; Pete Najarian owns (V) calls; Pete Najarian owns (HAL) calls; Pete Najarian owns (CROX) calls; Jon Najarian is long (AAPL) call spreads; Jon Najarian is long (BIDU) call spreads; Jon Najarian is long (BRCM) call spreads; Jon Najarian is long (CLX) call spreads; Jon Najarian is long (HK) call spreads; Jon Najarian is long (UA) call spreads

For Brian Kelly
Accounts Managed By Brian Kelly Capital Own (ATW)
Accounts Managed By Brian Kelly Capital Own (CLF)
Accounts Managed By Brian Kelly Capital Own (CLNE)
Accounts Managed By Brian Kelly Capital Own (GDXJ)
Accounts Managed By Brian Kelly Capital Own (SLV)
Accounts Managed By Brian Kelly Capital Own (FCX)
Accounts Managed By Brian Kelly Capital Own (INTC)
Accounts Managed By Brian Kelly Capital Own (IPI)
Accounts Managed By Brian Kelly Capital Own (KRE)
Accounts Managed By Brian Kelly Capital Own (WFC)
Accounts Managed By Brian Kelly Capital Own (MON)
Accounts Managed By Brian Kelly Capital Own (VIX) calls

For Patty Edwards
Edwards Owns (AAPL) For Clients
Edwards Owns (AMZN) For Clients
Edwards Owns (PG) For Clients
Edwards Owns (QCOM) For Clients
Edwards Owns (MCD) For Clients
Edwards Owns (BMO) For Clients
Edwards Owns (KO) For Clients
Edwards Owns (XLB) For Clients
Edwards Owns (MSFT) For Clients
Edwards Owns GOLD For Clients
Edwards Owns SILVER For Clients
Edwards is long (XLK)
Edwards is long the Canadian Dollar

For David Hilder
SFG is a market maker in the securities of Citigroup, Inc. (C). SFG and/or its affiliates beneficially own 1% or more of the securities of Citigroup, Inc. (C).

For Willie Williams
**No Disclosures



CNBC.com with wires.