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'Fast Money' Recap: Long on Financials

Finerman said the next catalyst for Hospira (HSP) won't come until it reports earnings. The stock closed higher by 2%. 

Goodrich Petroleum (GDP) soared 30%. Nathan found bullish options activity in the stock after a trader bought 20,000 June $22.50 call options for $3.90 per contract. The break-even point for the trade is at $26.40 per share on June expiration. 

Finerman said Macy's (M) has good management and a reasonable valuation. She was a buyer at $55. 

Adami said Amgen (AMGN) should trade at 17 times forward earnings, not 13 times forward earnings (which it currently does). Based on a valuation of 17 times forward earnings, the stock should be trading closer to $147. 

To trade the solar industry, Nathan was a buyer of First Solar (FSLR) over SolarCity (SCTY) because First Solar has realistic expectations from analysts. 

Finerman said investors could buy CVS Caremark (CVS) at current levels. 

For their final trades, Kelly was a buyer of Microsoft MSFT with a "tight" stop-loss, while Finerman was a buyer of JPM. Nathan was a seller of the iShares MSCI Germany ETF (EWG) via long put options and Adami was buying Paychex (PAYX), which he called "dirt cheap."

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell


Follow TheStreet.com on Twitter and become a fan on Facebook.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.
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