On CNBC's Fast Money Halftime Report, Stephanie Link said that she decided to sell Morgan Stanley MS from her portfolio for the CNBC's trading competition. She bought Visa Inc V instead.
Link explained that she likes Morgan Stanley in the long term, but she believes that it is going to be rangebound in the short term. Third quarter for the sector is seasonally soft and there are also going to be concerns about the yield curve and Fed's decision, added Link. Without a catalyst and with the headwinds she doesn't think that the stock can trade higher in the near term.
Visa is not cheap, but it is a great franchise with a pricing power, thinks Link. Its business is strong and numbers are going higher and a potential catalyst is Visa Europe acquisition.
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