Tim Seymour Is Keen On DIS, NVS, CSCO
CNBC's Fast Money Tim Seymour talked about strong growth in China and companies that should be owned because of their intentions to expand their business in the region.
Tim Seymour is interested in buying The Walt Disney Company (NYSE: DIS) as it is opening a new theme park in Shangai, China. Joe Terranova thinks that this call is good in a long term because of the 80 million people that live in the vicinity of the park, but short term Disney's valuations could be to rich. Disney (DIS) jumped 1.48% on Wednesday to close at $28.03.
Seymour is also keen on Novartis (NYSE: NVS) because of its plan to invest in pharmaceutical research plant in China. The investment is going to be worth $1 billion. Pete Najarian commented that he also likes NVS. Novartis (NVS) gained 0.21% today and closed at $52.24.
Cisco Systems (NASDAQ: CSCO) is another company that has plans in China, and therefore it caught Tim Seymour's attention. CSCO is linked to buy Hong Kong based DVN Holdings which produces set-top boxes for digital cable. Guy Adami said that he is not sure that this acquisition is a reason to own CSCO, but Cisco should be bought on the dip, in his opinion, because of its earnings report. Cisco (CSCO) gained 1.35% in today's trading session and closed at $23.22.
