Zinger Key Points
- Joshua Brown says Nasdaq is on the rise once again.
- Jenny Van Leeuwen Harrington picks Clearway Energy, which is a renewable power generation company.
On CNBC's “Halftime Report Final Trades,” Bill Baruch of Blue Line Capital said Freeport-McMoRan Inc. FCX reported quarterly earnings on Thursday.
Copper is going higher and Freeport-McMoRan will follow, he added.
Phoenix, Arizona-based Freeport-McMoRan reported fourth-quarter revenue of $5.72 billion. It missed the consensus of $5.99 billion. Copper sales totaled 1 billion pounds — slightly above the October 2024 estimate. Copper sales declined year-over-year owing to lower ore grades and the timing of shipments at PT-FI.
In the basic materials sector, Jenny Van Leeuwen Harrington of Gilman Hill Asset Management, LLC picked Clearway Energy, Inc. CWEN, which is a renewable power generation company.
On the earnings front, Clearway Energy is scheduled to report fourth quarter 2024 financial results on Monday, Feb. 24.
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Rounding out the trades, Joshua Brown of Ritholtz Wealth Management said Nasdaq, Inc. NDAQ successfully retested the breakout level and is on the rise once again.
Supporting his view, Oppenheimer analyst Owen Lau, on Jan. 13, maintained Nasdaq with an Outperform and raised the price target from $86 to $89.
Price Action:
- Freeport-McMoRan shares fell 1.5% to close at $38.50 during Thursday's session.
- Clearway Energy shares rose by 2.6% to close at $25.28 during Thursday's session.
- Nasdaq shares gained 0.3% to close at $81.03 on Thursday.
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