WINDERMERE, Fla. (Stockpickr) -- The CNBC's "Fast Money" traders are starting to get excited about earnings season after Intel (INTC) - Get Report reported a blowout quarter. On Tuesday's "Fast Money" TV show, Guy Adami told viewers that the blowout quarter was very similar to last quarter's report, which saw Intel up in after hours before giving back all the gains. Melissa Lee, the show moderator explained that this was a classic trading pattern in which investors "buy the rumor and sell the news."
Gary Kaminksy said he believes the market will trade much higher on earnings for this quarter. Tim Seymour said he was optimistic about the stock market because the world is better and the financials will spur this entire quarter of earnings.
was a bit more cautious on the markets. She said the perception that this is going to be a good earnings season has already been priced into the market. Finerman thinks companies will report great numbers but the follow-through trading will be bearish.
The "Fast Money" crew has recently highlighted trading ideas that play off increased M&A activity, under-owned stocks and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.
: If you're looking for some under-owned stocks, the traders know just where to find them. On last Thursday's "Fast Money" show, Joe Terranova viewers: "In tech look at
, in ag look at
, and in nat gas look at
: The traders see opportunity in a couple of energetic stocks for a market that could start to trade sideways. On last Thursday's "Fast Money" show, Hillary Kramer, the chief market strategist of A&G Capital, told viewers: "I love
as a defense play. Their equipment can see a postage stamp in a cave in Afghanistan. And they've showed 80% revenue growth quarter over quarter. The company could easily be a takeover target." The
: The traders have noticed some unusual options activity in a number of stocks, including
. (Also see:
.) On Tuesday's "Halftime Report" segment, Pete Najarian told viewers: "The large volume of May 65 calls traded recently leads me to speculate that
Procter & Gamble
could make a sharp move higher." The
: The traders think two areas of
business -- investment banking revenue and consumer loans -- presented solid trading opportunities. On Wednesday's "Halftime Report" segment, Joe Terranova told viewers: "JPMorgan results suggest to me that credit quality is clearly improving. I think that bodes well for
. I'm long $4 May calls." The
Goldman Sachs Group
: The traders think that stocks like
will be great trades off of
monster quarter. On Tuesday's "Fast Money" show, Guy Adami told viewers: "If you believe in the 3-D trend you might want to look at
Marvell Technology Group
: Wall Street is being flooded with an explosion of M&A speculation in names such as
Jacobs Engineering Group
. On last Friday's "Fast Money" show, Steve Grasso told viewers: "Don't forget about
. They're rumored to be looking to make an acquisition in ag. My clients think
is in play." The
-- Written by Roberto Pedone in Windermere, Fla.
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