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CME Group Inc. CME “benefits from volatility.”
That’s according to Aureus Asset Management’s Karen Firestone who appeared on CNBC’s “Halftime Report Final Trades.”
“They run the largest exchange for derivatives and interest rate products and commodities,” Firestone said. “They will have higher than expected earnings and that will continue for the rest of the year. Earnings estimates have gone up.”
Aureus says CME is a stock that over the next two quarters will outperform even though it hasn’t been “a very good performer this year.”
“It’s down 15% year-to-date so that’s my pick today,” Firestone added.
Meanwhile, Jason Snipe of Odyssey Capital Advisors highlighted how AbbVie Inc ABBV has an “8% free cash flow yield” and a dividend yield of just over 4%.
It’s important to “take a defensive posture in a very difficult market,” he added, citing how AbbVie has exceeded expectations over the past 14 quarters.
“Just a solid name in this space,” he said.
Discover other moving actions
Joshua Brown of Ritholtz Wealth Management chose iShares 1-3 Year Treasury Bond ETF SHY saying, “your choices are not limited to money or stocks.”
“These are short-term bonds, now yielding north of 3%,” he said. “If you’re not sure if the new June lows test will pass or not, this is the type of place you can very easily hide with some of your money until we have a little more confirmation if it will hold.”
Stephen Weiss of Short Hills Capital Partners named ProShares Short QQQ ETF QSP as his last job.
