On CNBC's “Halftime Report Final Trades,” Joseph Terranova, senior managing director, Virtus Investment Partners, recommended Ford Motor Company (NYSE:F).
Ford shares gained on Wednesday as traders continue to lean into optimism about the company’s European product roadmap and its new energy storage push.
In December, Ford CEO Jim Farley moved to cancel several battery-electric models and take a $19.5 billion writedown, including $8.5 billion tied to the canceled EV programs. Still, the company plans to launch seven new vehicles for Europe between now and 2029, including the Ranger Super Duty, an all-electric Transit City van, and five passenger vehicles, such as an electric hatch and a small electric SUV.
The Dearborn, Michigan-based carmaker also launched Ford Energy, a wholly owned subsidiary focused on advanced energy storage systems, with plans to anchor operations at its Kentucky facility and target 20 gigawatt-hours of annual manufacturing capacity.
Don't forget to check out our premarket coverage here
Jenny Van Leeuwen Harrington, CEO of Gilman Hill Asset Management, LLC, named Ventas, Inc. (NYSE:VTR) as her final trade.
Lending support to her choice, Scotiabank analyst Nicholas Yulico maintained Ventas at Sector Perform on May 21 and raised the price target from $93 to $95.
SoFi’s Liz Young Thomas picked Pacer US Cash Cows 100 ETF (NASDAQ:COWZ).
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, named QXO, Inc. (NASDAQ:QXO) as his final trade.
On the earnings front, QXO reported first-quarter losses of 12 cents per share on May 12, missing the analyst consensus estimate of 9 cents per share. The company reported quarterly sales of $1.730 billion which missed the analyst consensus estimate of $1.735 billion.
Price Action
- Ventas shares fell 0.4% to close at $88.05 on Wednesday.
- Pacer US Cash Cows 100 ETF slipped 0.02% during the session.
- Ford shares gained 3.7% to close at $15.88 on Wednesday.
- QXO shares rose 1.4% to settle at $17.40 on Wednesday.
Photo via Shutterstock
Login to comment