On CNBC’s “Halftime Report Final Trades,” Stephanie Link of Hightower said Wells Fargo & Co (NYSE: NYSE:WFC) “trades at 1x book and yields about 2%.”
Wells Fargo is highly sensitive to rate hikes and a 50 basis points increase by the Federal Reserve could add 16% to the bank’s earnings and 7% to its net interest income, Link mentioned. “Expenses are in check. The company’s doing a really good job improving on that front as well,” she added.
Jim Lebenthal of Cerity Partners said Paramount Global (NASDAQ: PARA) “just keeps going from strength to strength” and they “keep exceeding their streaming subscriber counts.” He added, “Everything’s going right at Paramount and it’s finally starting to get the respect it deserves.”
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Josh Brown of Ritholtz Wealth Management described A O Smith Corp (NYSE: AOS) as a “dividend aristocrat.” Brown mentioned that the company had been around since the Civil War and has been paying a dividend for 82 years.
“This is exactly the kind of stock I want to be in for the second half of the year,” he added.
Joseph Terranova of Virtus Investment Partners chose Archer-Daniels-Midland Co (NYSE: ADM) as his final trade, saying he was “overweight on agriculture.”
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