Broadcom, Cleveland-Cliffs And A Major Industrial Stock Down 12% This Year: CNBC's 'Final Trades'
Portfolio Pulse from Lisa Levin
On CNBC's 'Halftime Report Final Trades', Broadcom Inc. (AVGO), Cleveland-Cliffs Inc. (CLF), and 3M Company (MMM) were named as final trades. Broadcom posted positive Q3 earnings but issued a weak forecast for the current quarter. Cleveland-Cliffs signed a tentative pact with the United Steelworkers on a new three-year labor agreement. 3M reached an agreement to resolve the Combat Arms Earplug litigation. 3M shares gained 0.3%, Cleveland-Cliffs shares rose 1.4%, and Broadcom shares fell 5.5% on Friday.
September 05, 2023 | 12:13 pm
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POSITIVE IMPACT
Cleveland-Cliffs signed a tentative pact with the United Steelworkers on a new three-year labor agreement. Shares rose 1.4% on Friday.
The new labor agreement could lead to improved operational efficiency and stability, potentially boosting investor confidence and the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
3M reached an agreement to resolve the Combat Arms Earplug litigation. Shares gained 0.3% on Friday.
The resolution of the litigation could remove a potential risk factor for 3M, possibly leading to a slight increase in the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Broadcom posted positive Q3 earnings but issued a weak forecast for the current quarter. Shares fell 5.5% on Friday.
Broadcom's weak forecast for the current quarter could negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100