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Micron Technology, Inc. (MU), EOG Resources Inc. (EOG), Baker Hughes Incorporated (BHI), Halcon Resources Corp (HK): Top Trades for the Year

The Market has had its fair share of challenges, but there are stocks according to the ‘Fast Money’ Crew on CNBC that remained solid in the first half of the year, generating impressive earnings and consequently showing signs of sustainable growth prospects going forward.  The top trades according to the crew are: Micron Technology, Inc. (NASDAQ:MU), EOG Resources Inc. (NYSE:EOG), Baker Hughes Incorporated (NYSE:BHI), Halcon Resources Corp (NYSE:HK).

Micron Technology, Inc. (NASDAQ:MU)

Mike Murphy in an interview on CNBC remained bullish on Micron Technology, Inc. (NASDAQ:MU) maintaining that there is a lot of room for its stock to perform well in the second half of the year. Micron Technology, Inc. (NASDAQ:MU)’s earning reports a couple of weeks ago was impressive.  “They came out with an earnings report couple of weeks ago that looked very good on the surface. They are going to earn over $4 a share this year, so they are trading right now at about 8x earnings” said Mr. Murphy.

Micron Resources sustainability could have been better if the investing community gave it a much needed credibility to be able to sustain its ongoing rally according to Mr. Murphy. The investor said he expects; the company to trade between 12x and 15x earnings as of the end of the year.

The second most profitable trade according to the ‘Fast Money’ crew is EOG Resources Inc. (NYSE:EOG) given the current market conditions. Joe Terranova remains bullish on EOG Resources Inc. (NYSE:EOG) saying the company is well positioned both on the oil and gas sides. Monetization of assets and domestic production oil rises continues to make EOG Resources one of the top trades for the year according to the investor.

“Incredibly well positioned, both on the oil and the gas side, they got a little bit oilier a couple of years ago; that has been to their benefit, clearly in 2014,” said Mr. Terranova.

Despite EOG Resources Inc. (NYSE:EOG)’s current position, Mr. Terranova said he is staying with it, in anticipation of more upside from the stock in the coming months.

Halcon Resources Corp (NYSE:HK), on the other hand, is one of the best performing stocks over a short period of time, of which Mr. Stephen Weiss reiterated his long position on. The rise of Halcon Resources Corp (NYSE:HK) in the market according to Mr. Weiss can be attributed to its CEO, who has been calling all the shots in driving the company with the potential of being sold.

Baker Hughes Incorporated (NYSE:BHI) closes the list of the top trades for the year with 34% gain this year alone, and the fourth most profitable trade. Mr. Jon Najarian has a long position on Baker Hughes Incorporated (NYSE:BHI) stock saying that its stock is set to grow even further at the back of the U.S growing to become the largest crude oil producer.

Disclosure: none

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