Lockheed Martin, TE Connectivity And More: CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Jason Snipe of Odyssey Capital Advisors said he likes Lockheed Martin Corporation LMT, which reported a nice beat on the top and bottom lines this week.

On July 23, the aerospace and defense giant reported earnings per share (EPS) of $7.11 for the second quarter 2024, surpassing analysts' expectations of $6.46.

Additionally, revenue for the quarter reached $18.122 billion, exceeding the anticipated $17.044 billion. Lockheed Martin expects FY24 net sales of $70.50 billion-$71.5 billion (prior $68.5 billion–$70 billion) versus the consensus of $69.822 billion. LMT sees EPS of $26.10-$26.60 (prior $25.65 – $26.35) versus the consensus of $26.29.

Anastasia Amoroso of iCapital named The Utilities Select Sector SPDR Fund XLU as her final trade.

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Stephen Weiss of Short Hills Capital Partners picked U.S. 2 Year Treasury.

Joe Terranova of Virtus Investment Partners named TE Connectivity Ltd. TEL as his final trade.

On July 24, TE Connectivity posted mixed results for the third quarter. The company reported adjusted earnings of $1.91 per share, beating market estimates of $1.86 per share. Its sales came in at $3.979 billion, missing expectations of $4.013 billion. The company sees fourth-quarter net sales of $4.0 billion and adjusted earnings of $1.94 per share

Price Action:

• Lockheed Martin shares gained 2.8% to close at $515.20 on Wednesday.
• The Utilities Select Sector SPDR Fund gained 1.1% during Wednesday's session.
• TE Connectivity shares gained 3.6% to settle at $156.85 on Wednesday.

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