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TheStreet Open House

5 Rocket Stocks to Buy After the Greek Vote

Stocks in this article: CLTGTXRXPETMSNA

Snap-On

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Mid-cap tool firm Snap-On (SNA) is having a banner year in 2012, driven by a vehicle fleet in this country that's older now on average than it's ever been before. Shares of Snap-On are up more than 24% since the start of 2012 as sales continue to outpace analysts' expectations.

Snap-On sells its tools and diagnostic equipment to a diverse mix of customers, most of whom are professionals who work on cars, trucks, planes, or other machines. Independent car techs are the biggest buyer of Snap-On products, served by a fleet of 3,200 vans that sell and deliver tools directly to potential client shops. That control of the product from manufacture to delivery gives SNA precision control over its costs, a fact that's helped the firm react to economic headwinds in the last few years.

An eye to emerging markets could provide significant growth opportunities for Snap-On, as the firm looks at courting the tool market in China. Even a modest success in the People's Republic could yield significant performance improvements for SNA's shareholders -- we're watching this Rocket Stock this week.

To see all of this week's Rocket Stocks in action, check out the Rocket Stocks portfolio at Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
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