If you’re looking for a long idea, trader Pete Najarian suggests looking at Starbucks. “Know what I read into this? Starbucks is out there taking share away – I like this stock. I think it’s too cheap. I’m long.”
Looking at the numbers from Green Mountain, gross margins in the second quarter declined to 35.4 percent from 37.5 percent in the year-ago period.
The company reported a second-quarter profit of $93.3 million, or 58 cents a share, compared with $65.8 million, or 44 cents a share, a year ago.
Net sales rose 37 percent to $885.1 million, but missed estimates of $971.7 million, according to Thomson Reuters I/B/E/S.
Green Mountain sees fiscal 2012 sales rising 45 percent to 50 percent, much lower than its previous forecast of a rise of 60 percent to 65 percent.
* Whitney Tilson's next Value Investing Congress is scheduled for May 6th and 7th. Click here for more details.
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Trader disclosure: On May 2, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Dan Nathan is long AAPL JAN 450 PUTS; Dan Nathan is long BAC MAY 7 PUTS; Dan Nathan is long MS MAY 16/14/12 PUT FLY; Dan Nathan is long RIMM JAN 20/25 CALL SPREAD; Dan Nathan is long CHK MAY 16 PUTS; Karen Finerman is long AAPL; Karen Finerman is SHORT AAPL CALLS; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM CALLS; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Brian Kelly is long IWM; Brian Kelly is long QQQ; Brian Kelly is long SPY; Brian Kelly is long KRE; Brian Kelly is long USG; Brian Kelly is long CAD DOLLAR; Brian Kelly is short SWEDISH KRONE; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long MS; Pete Najarian is long INTC; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO; Pete Najarian is long INTC ; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long SBUX CALLS; Pete Najarian is long PEP; Pete Najarian is long INTC; Pete Najarian is long FIO; Pete Najarian is long VISA CALLS; Pete Najarian is long STX CALLS; Pete Najarian is long MS; Pete Najarian is long MS CALLS; Pete Najarian is long TJX CALLS; Pete Najarian is long XCO CALLS
For Randall Kroszner
Nothing to disclose
CNBC.com with wires.