Joe Terranova says that what's important about Nike is the fundamentals. "You're looking at 2% growth, guidance will be unchanged and looking forward I think it will accelerate over next coming quarters, it could hit $125 to $130," he added.
Jon Najarian is watching Nike earnings for a broader take on the economy. "A good earnings report could be a sentiment for the market but if it's weak like Caterpillar the it puts a pall on the market." he says.
Pete Najarian is expecting positive numbers from Nike. "We have an insight into what we're going to hear because the back-to-school numbers were good. Nike is doing everything right right now. The company trades at a fair valuation. I think there's plenty of upside."
Pete is also keeping an eye on Bed, Bath & Beyond. "They've disappointed but maybe this is the quarter they surprise."
Sarat Sethi is focusing on Nike's global guidance. "It's insight into consumer spending globally. They're going to talk aboutwhat they're seeing in their lines of business across different geographic regions."
Trader disclosure: On September 24, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:
Pete Najarian is long AAPL, AMAT, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE,KKR, KO, LLY, MRK, PEP, PFE. He is long calls AA, AAL, BEE, BMY, DAL, FL, MPEL,PFE, SWFT, UAL, XLF, XOM, ZIOP. He is long puts DISH, FCX.
Jon Najarian is long AAPL, FTR, NBL, PFE, PG, PPG, RAI, TEVA, TLT, XOM,ZSPH, ZTS. He is long calls AAL, ABX, ADXS, BBY, FL, GE, HZNP, ISIL, MAR, MCK,MDLZ, NBL, PBR, RAI, PFE, PPG, SWFT, YHOO. He is long SPY puts.
Joe Terranova long VRTS.
Sarat Sethi is long ACN, BWA, DLPH, F, GM, HAR, HON.