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Will ‘Transformers’ Boost Viacom Shares?

With the second quarter coming to an end Thursday, “Fast Money” trader Jon Najarian turned his attention to Viacom.

The stock has been trading sideways for the last month, but Najarian thinks things are looking up for the media giant thanks to the release of its film “Transformers.”

"I think they’re going to have a huge hit on their hands,” he said.

The film is expected to earn $150 million to $180 million over it first six days in the US and Canada, but Najarian thinks the figures will actually be north of $200 million. And he thinks that good news will drive Viacom to a new 52-week high.

*You'll find Jon Najarian's comments right at the start of the video.




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Trader disclosure: On June 29, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Adami owns (INTC); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (MT) call spreads; Jon Najarian owns (CBS) call spreads; Jon Najarian owns (HOC) call spreads; Jon Najarian owns (MA) call spreads; Jon Najarian owns (MON) call spreads; Jon Najarian owns (POT) call spreads; Jon Najarian owns (X) call spreads; Jon Najarian owns (V) call spreads; Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (FCX); Terranova Owns (CVI); Terranova Owns (F); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (JWN); Terranova Owns (TM); Terranova owns (MSFT); Terranova Owns (LULU); Terranova Owns (WFM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (HAS); Terrnaova owns (DIS); Terranova Owns (XOM); Terranova Is Short (DELL); Steve Grasso owns (AKS); Steve Grasso owns (AMD); Steve Grasso owns (ASTM); Steve Grasso owns (BA); Steve Grasso owns (BAC); Steve Grasso owns (C); Steve Grasso owns (D); Steve Grasso owns (HOV); Steve Grasso owns (JPM); Steve Grasso owns (LIT); Steve Grasso owns (LPX); Steve Grasso owns (MHY); Steve Grasso owns (NDAQ); Steve Grasso owns (PFE); Steve Grasso owns (PRST)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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Anthony Scaramucci
One of 8 national finance chairs for Mitt Romney campaign
Held a fundraiser for Mitt Romney
Has contributed to the Romney campaign

CNBC.com with wires.