On CNBC’s “Halftime Report Final Trades,” Courtney Garcia of Payne Capital Management said that health care is going to be among the outperformers. She recommended iShares US Healthcare ETF (NYSE: IYH) as it includes some health care majors like UnitedHealth Group Inc (NYSE: NYSE:UNH), Merck & Co., Inc. (NYSE: MRK), Pfizer Inc. (NYSE: NYSE:PFE) and Eli Lilly and Co (NYSE: NYSE:LLY).
CPI data is scheduled to be reported on Thursday and, if inflation continues to rise, “this is something you want to be on,” Garcia added.
Joseph Terranova of Virtus Investment Partners chose Progressive Corp (NYSE: NYSE:PGR). “Insurance company, financials, own it,” Terranova stated.
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Stephanie Link of Hightower named Dollar General Corp (NYSE: NYSE:DG) saying it is a combination of a discretionary name and a staples stock. “So, it’s a bit defensive,” she added.
“They offer value proposition for their customers. 80% of their revenues are consumables and so I think they will benefit as consumers trade down. Gross margins have been steady due to pricing as well as mix shift in products,” Link said. She added that although the stock “is not cheap,” it is a “defensive name in a challenging environment.”
Jenny Harrington of Gilman Hill Asset Management said that Seagate Technology (NASDAQ:STX) Holdings PLC’s (NASDAQ: STX) stock seems to have bottomed. It has 5% dividend yield and trades at 11 times earnings, “in a business that just has insatiable demand for hard disk drive storage,” she added.
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