On CNBC’s “Halftime Report Final Trades,” Jon Najarian said that Cleveland-Cliffs Inc’s (NYSE: CLF) stock had declined more than 30% in a month. “I like it. I bought the stock,” Najarian stated. “They’re buying upside calls in the 18 strike,” he added.
Jason Snipe of Odyssey Capital Advisors said he liked pharmaceutical distributer McKesson Corporation (NYSE: NYSE:MCK). The company has 9.6% free cash flow yield and a little over 10% long-term growth rates, Snipe mentioned. “It’s done well this year but I think there’s some runway still to go here,” he added.
Check out other stocks making big moves in the premarket.
Bryn Talkington of Requisite Capital Management chose JPMorgan (NYSE:JPM) Equity Premium Income ETF (NYSEARCA: JEPI) as her final trade. “They own about 100 S&P names, each about 2% holdings, they are overweight energy,” Talkington said. “Between the dividends and selling the call premiums, you’re earnings about a 10% or 11% yield, while you have a defensive strategy,” she added.
Joshua Brown of Ritholtz Wealth Management chose SPDR Nuveen Bloomberg Short Term Mun Bond ETF (NYSEARCA: SHM).
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