On CNBC’s “Halftime Report Final Trades,” Bryn Talkington of Requisite Capital Management expressed her favor for Invesco S&P 500 Equal Weight Energy ETF (NYSE: RSPG).
Jason Snipe of Cerity Partners also voiced his endorsement for Cardinal Health, Inc. (NYSE: CAH), citing a 6% free cash flow yield.
Cardinal Health recently posted a second-quarter FY24 adjusted EPS of $1.82, a robust 38% year-over-year increase, surpassing the consensus of $1.60. Sales also spiked by 12% to $57.45 billion, outperforming the consensus projection of $57.01 billion.
The Dublin, Ohio-based company additionally raised its FY24 adjusted EPS guidance to $7.20-$7.35 from a prior projection of $6.75-$7.00, as compared to the consensus of $6.96.
In a light-hearted touch, Josh Brown from Ritholtz Wealth Management revealed his allegiance to Shake Shack Inc. (NYSE: SHAK), stating that he is staying long on the stock. The company’s plan to open 80 new restaurants this year sweetened the deal.
Shake Shack posted fourth-quarter financial results that surpassed expectations. Sales surged by 20% year-over-year to $286.2 million, eclipsing the analyst consensus estimate of $280.3 million. The adjusted pro forma EPS for the quarter clocked in at 2 cents, beating the consensus estimate of 1 cent. For FY24, the company forecasts revenue of $1.21 billion-$1.25 billion, compared to the consensus of $1.246 billion, and a Shack level operating margin of 20%-21%.
Price Action:
- Invesco S&P 500 Equal Weight Energy ETF gained 3% on Thursday.
- Cardinal Health shares gained 1.3% to close at $104.94 during Thursday’s session.
- Shake Shack shares jumped 26% to settle at $98.40 on Thursday.
Image: Wikimedia Commons
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