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Najarian: Yahoo! a Must Own Stock


Bet you’d never thought you’d hear this, but Pete Najarian says Yahoo! is now a must-own stock.

Najarian is bullish for a few reasons.

First, he thinks Yahoo!’s new mobile search tool called Axis has huge potential. “It could be a huge growth area for the company,” he says.

Also Najarian thinks after resume-gate -- the decision to replace Scott Thompson with Ross Levinsohn was a good move.

Najarian believes the new CEO is about unlock shareholder value.

According to the website Business Insider, Levinsohn’s plans to “ignore his passion for big deals to solve some noisy problems and focus the company. Meanwhile, he'll begin to divest assets in order to build up a pile of cash. Then he's going to swing for the fences, hoping to propel Yahoo into growth even though its core product has already begun to erode.”

Also Najarian was encouraged by recent options activity which he considers bullish. “They came in for the October 17 calls,” he says.

For these reasons, "Yahoo! is a must own stock," he says.

Posted by CNBC's Lee Brodie

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Trader disclosure: On May 25, 2012, 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 is long AAPL; Pete Najarian is long C; Pete Najarian is long GDX CALLS; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long PPE; Pete Najarian is long HPQ; Stephen Weiss is long JCP; Stephen Weiss is long COH; Stephen Weiss is long CMI; Stephen Weiss is long CHK; Stephen Weiss is short QCOM; Stephen Weiss is short UVP; Stephen Weiss is short EURO; Jon Najarian is long AH CALL SPREADS; Jon Najarian is long GLD CALL SPREADS; Jon Najarian is long ZNGA CALL SPREADS; Jon Najarian is long GLUU; Jon Najarian is long DDMG; Jon Najarian is long CIGX; Jon Najarian is long CBOE; Jon Najarian is long CME; 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 PFE; Steve Grasso is long S; Steve Grasso is long XLU; Steve Grasso is long ZAZA

For Jens Nordvig
Nothing to Disclose

For David Goerz
David Goerz is long EBAY
David Goerz is long WDC
David Goerz is long WFC
David Goerz is long HD

CNBC.com with wires.