On CNBC’s ‘Halftime Report Final Trades,’ financial experts discussed their final picks for the day. Stephanie Link of Hightower highlighted The Home Depot, Inc. (HD), noting the company’s impressive gross margins in the recent quarter, despite a slight miss on top-line results. Home Depot reported mixed results for the second quarter on August 13th, with sales growth of 0.6% year-over-year, reaching $43.175 billion, narrowly falling short of the anticipated $43.376 billion. However, the company exceeded expectations on adjusted earnings per share, recording $4.67, a 0.2% decrease year-over-year, beating the consensus estimate of $4.50.
Joshua Brown of Ritholtz Wealth Management expressed his continued optimism about Amazon.com, Inc. (AMZN), advocating for a long-term investment strategy. He dismissed the recent selloff in the stock after earnings as unwarranted. Amazon is actively expanding its reach through collaborations with social media giants like TikTok and Pinterest. Analyst Justin Post from Bank of America predicts that these platforms will soon allow users to purchase directly from Amazon without leaving their apps, enhancing Amazon’s shoppable ads and streamlining the digital commerce experience.
Jim Lebenthal of Cerity Partners selected Applied Materials, Inc. (AMAT) as his final trade. Applied Materials reported strong third-quarter results on August 15th, surpassing estimates for both revenue and earnings. The company generated revenue of $6.78 billion, exceeding the consensus estimate of $6.673 billion. Adjusted earnings per share came in at $2.12, surpassing analyst expectations of $2.02 per share.
In terms of stock price movement, Amazon shares fell 0.3% to close at $177.06 on Friday. Home Depot shares gained 0.6% to settle at $362.06 during Friday’s session. Applied Materials shares dipped 1.9% to close at $207.90 during the same trading day.
