Aptiv, Fortinet, Toast And A Major Consumer Stock On CNBC's 'Final Trades'

Zinger Key Points
  • Joseph Terranova picks MercadoLibre, citing strong financial performance in its latest quarter.
  • Stephanie Link favors Fortinet for its robust 2024 outlook despite recent stock decline.

On CNBC’s "Halftime Report Final Trades," Joseph Terranova of Virtus Investment Partners named MercadoLibre, Inc. MELI, a consumer discretionary stock, as his final trade.

MercadoLibre, last month, reported better-than-expected financial results for its third quarter.

Jenny Harrington of Gilman Hill Asset Management said Aptiv PLC APTV is down 11% quarter-to-date. The stock is trading at 15 times earnings, with 25% earnings growth expected for next year and the year after.

Aptiv, last month, reported third-quarter FY23 sales growth of 10.8% year-on-year to $5.11 billion, beating the analyst consensus estimate of $5.09 billion.

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Stephanie Link of Hightower picked Fortinet, Inc. FTNT, which is down 28% from its highs. "I think [the] 2024 setup is really strong," she noted.

Fortinet, last month, reported mixed third-quarter financial results and issued FY23 revenue guidance below estimates.

Joshua Brown of Ritholtz Wealth Management named Toast, Inc. TOST as his final trade.

Toast, last month, said third-quarter revenue grew 37% year-over-year to $1.032 billion, which beat the consensus estimate of $1.03 billion.

Price Action: MercadoLibre shares gained 0.6% to close at $1,629.99, while Aptiv rose 1.8% to $88.84 on Tuesday. Fortinet gained 2.9% to $57.76, while Toast shares gained 6.1% to settle at $18.17 during Tuesday’s session.

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Photo: Shutterstock

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Posted In: Long IdeasNewsMarketsMediaTrading IdeasCNBCHalftime Report Final TradesJenny HarringtonJoseph TerranovaJoshua BrownStephanie Link
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