Nike, Merck, General Motors, And More: CNBC's 'Final Trades'
Portfolio Pulse from Avi Kapoor
On CNBC's 'Halftime Report Final Trades,' analysts recommended The Energy Select Sector SPDR Fund (XLE), General Motors (GM), Merck (MRK), and Nike (NKE). GM reported strong Q1 2024 results, Merck announced positive study results with Moderna, and Nike is reducing its workforce to save costs.
June 10, 2024 | 12:14 pm
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POSITIVE IMPACT
General Motors reported Q1 2024 sales growth of 7.6% to $43.01 billion, beating estimates. Adjusted EPS of $2.62 also beat expectations.
Strong earnings report and positive analyst commentary are likely to drive short-term stock price appreciation for GM.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Merck announced positive results from a Phase 2b study with Moderna for an investigational therapy in high-risk melanoma patients.
Positive clinical trial results can boost investor confidence and drive short-term stock price gains for Merck.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Nike is reducing its workforce at its European headquarters as part of a multiyear effort to trim costs and save $2 billion globally.
Cost-cutting measures are generally viewed positively by investors, potentially leading to short-term stock price gains for Nike.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Liz Young of SoFi named The Energy Select Sector SPDR Fund (XLE) as her final trade.
Analyst recommendation on a popular financial show can drive short-term interest and buying activity in XLE.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80