Shell, Freeport-McMoRan, Steel Dynamics And More On CNBC's 'Final Trades'

Zinger Key Points
  • Joseph M. Terranova names Steel Dynamics as his final trade.
  • Jenny Van Leeuwen Harrington says Shell has 9 times earnings.

On CNBC’s "Halftime Report Final Trades," Jenny Van Leeuwen Harrington of Gilman Hill Asset Management, LLC said Shell plc SHEL is trading at nine times earnings and also has a 4% dividend yield.

On April 5, Shell updated its first quarter FY24 operational outlook, reflecting lower results from its liquefied natural gas (LNG) trading business. For Integrated Gas, the company updated the production outlook to be 960 – 1,000 thousand boe/d (vs. 930 – 990 thousand boe/d expected earlier) and LNG liquefaction volumes to 7.2 – 7.6 MT (vs. 7.0 – 7.6 MT prior).

Stephen Weiss of Short Hills Capital Partners said he is short on Invesco QQQ Trust QQQ.

Sarat Sethi said Freeport-McMoRan Inc. FCX is the best way to play copper, as copper demand keeps going up and supply is limited.

On April 9, BofA Securities analyst Lawson Winder upgraded Freeport-McMoRan from Neutral to Buy and announced a $59 price target, while Scotiabank analyst Orest Wowkodaw maintained the stock with a Sector Outperform and raised the price target from $48 to $55.

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Joseph M. Terranova of Virtus Investment Partners named Steel Dynamics, Inc. STLD as his final trade.

Steel Dynamics is expected to release first-quarter financial results after the closing bell on April 23. Analysts expect the company to report quarterly earnings at $3.51 per share on revenue of $4.74 billion.

Price Action:

  • Shell shares fell 0.7% to close at $71.94 on Monday.
  • Freeport-McMoRan shares rose 1.1% to settle at $50.02 on Monday.
  • Steel Dynamics shares rose 0.2% to close at $140.97 during Monday’s session.
  • Invesco QQQ Trust fell 1.7% during Monday’s session.

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Posted In: Long IdeasNewsTop StoriesMarketsMediaTrading IdeasCNBCHalftime Report Final TradesJenny Van Leeuwen HarringtonJoseph M. TerranovaSarat SethiStephen Weiss
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