On CNBC’s “Halftime Report Final Trades,” Joseph Terranova of Virtus Investment Partners named Advanced Micro Devices, Inc. (NASDAQ:AMD) as his pick. “AMD has been a fun stock to trade the last year and candidly something that I’ve been comfortable with and done well at it,” he added.
Terranova mentioned that he had bought more shares of Advanced Micro Devices on Jan. 31, when the price was “a little bit below $110.” He added to that position on Tuesday and plans to use a stop at $116.75, so that “a winning trade can’t turn into a losing one.”
Karen Firestone of Aureus Asset Management chose CME Group Inc (NASDAQ:CME) as her pick, following its “very strong quarter.” The company is poised to benefit from the Fed’s rate hike.
Around 30% of the company’s business is futures and that business grew 50% the last time the Fed tightened, Firestone mentioned. CME Group has strong cash flows, offers a 4% dividend yield and have futures on bitcoin and ether, she added.
Stephen Weiss of Short Hills Capital Partners named Porsche Automobil Holding (OTCPK: POAHF) as his pick, while Jon Najarian chose US Foods Holding Corp. (NYSE:USFD).
