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Big-name stocks that can ride brand loyalty despite a price hike

When Netflix announced this week it would hike the price of its standard plan, the company got some glowing reviews from Wall Street. After the Netflix move, "Fast Money" traders picked some other stocks that benefit from strong brands and pricing power.

Apple

Tech giant Apple has a legion of loyal iPhone users, and charges a premium for features like extra storage, said trader Dan Nathan.

"To me, they have this amazing pricing power," Nathan said.

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Apple Senior Vice President of Worldwide Marketing Phil Schiller speaks on stage during a Special Event at Bill Graham Civic Auditorium September 9, 2015 in San Francisco, California.
Getty Images
Apple Senior Vice President of Worldwide Marketing Phil Schiller speaks on stage during a Special Event at Bill Graham Civic Auditorium September 9, 2015 in San Francisco, California.

Nike

Athletic apparel maker Nike has one of the most recognizable brands in the world, and consumers will "pay a lot more" for its products, said trader David Seaburg. He said the company is able to make small changes to existing products and sell them for a higher price.

He believes Nike could climb to $140 per share from about $125, where it closed Friday.

Walt Disney

Walt Disney holds some of the most iconic properties in entertainment, and only boosted its appeal by adding Star Wars and Marvel characters to its catalog in recent years.

"Everything around Disney is a brand," said trader Steve Grasso, who owns Disney shares.

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He noted that a recent fee hike for Disneyland annual passes shows the company has pricing power.

Lockheed Martin

Trader Guy Adami said aerospace and defense company Lockheed Martin has "tremendous pricing power." The stock has climbed more than 10 percent this year.

Disclosures:

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc

Dan Nathan

Dan is long PYPL Oct call calendar, BA Oct put spread, INTC Oct put spread, F Nov put spread, QQQ Oct put spread, UAL Oct/Nov put spread, .VIX Nov short put long calls, XLF Oct puts, XLU call spread, XOM Nov put spread, TWTR, PG

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.

Steve Grasso

Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, STRP, T, TWTR, GDX firm is long BP, COP, CVX, FCX, NE, NEM, OXY, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY