On CNBC’s “Halftime Report Final Trades,” Liz Young of BNY Mellon Investment Management chose Invesco Dynamic Food & Beverage ETF PBJ, saying “people will not sacrifice” food and beverages in the upcoming holiday season. This year, consumers will likely witness a goods deflation.
“As inflation comes down, the input costs come down,” and these companies can perform well, Young added.
Karen Firestone of Aureus Asset Management said American Tower Corp’s AMT shares had declined steeply following Fed rate hikes. The company has price increases built in, indicating a potential for the stock to “go much higher,” Firestone added.
Check out other stocks making moves in the premarket.
Joseph Terranova of Virtus Investment Partners said ON Semiconductor Corp. ON was trading at about 15 times earnings and the company has exposure to EVs.
Jim Lebenthal of Cerity Partners said Cisco Systems Inc CSCO has an “attractive valuation” and offers a “good dividend yield.” He recommended buying the stock ahead of earnings.
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