×

Hard Hat Stocks

After hours the Street heard from two important engineering companies. Shares of Fluor Corp rose 5 percent to $80.00 in extended trade on Monday after the engineering and construction company posted a jump in second-quarter profit and increased its full-year earnings forecast.

Apparently slowing global isn’t affecting Fluor Corp, says Guy Adami. “Their backlog is up to $33 billion and they’ve raised guidance. But don’t rush in, however, because they typically pull back.”

"Be careful of this trade," counsels Jeff Macke. "Typically they gap a lot higher on tremendous numbers and then they’re largely defenseless over the next three months. I think the risk is greater than the reward."

Meanwhile, U.S. engineering and construction company McDermott International said on Monday its second-quarter net income rose 19 percent, helped by higher profits in its offshore oil and gas and power generation businesses.

On a valuation basis McDermott is much more interesting, says Adami.

And keep an eye on Foster Wheeler , exclaims Pete Najarian. It's in the same wheel house.

















______________________________________________________
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 website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On Aug 11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (COST), (MSFT), (WMT), ( TM) (UUP); Adami Owns (C), (AGU), (GS), (BTU), (INTC), (MSFT), (NUE); Pete Najarian Owns (AAPL), (COST), (HD), (TSO); Pete Najarian Owns (CSCO) Calls, (INTC) Calls, (MRVL) Calls; Pete Najarian Owns (HCBK) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (PDE); Finerman's Firm Owns (JCP), (MSFT), (SUN), (TSO), (VLO), (RIG), (NOK); Finerman's Firm And Finerman Own (C) Leap; Finerman's Firm Is Short (XLF), (BBT), (COF), (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm And Finerman Own (ANF), Finerman's Firm Owns (ANF) Call Spreads; Finerman's Firm Is Short British Pound; Finerman's Firm Is Short (RTH); NBC Universal Is The Parent Company Of CNBC