Verizon, General Motors And More On CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Shannon Saccocia of NB Private Wealth named Utilities Select Sector SPDR Fund XLU as her final trade.

Jason Snipe of Odyssey Capital Advisors said he likes Verizon Communications Inc. VZ here. The company has a tremendous free cash flow and has a 6.8% dividend yield.

On April 22, Verizon Communications reported fiscal first-quarter 2024 results. Its sales increased 0.2% year over year to $32.98 billion, marginally missing the consensus of $33.24 billion.

Adjusted EPS of $1.15 beat the consensus of $1.12. Verizon reiterated a 2.0% – 3.5% wireless service revenue growth. It maintained an adjusted EPS of $4.50 – $4.70 versus consensus of $4.58.

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Jim Lebenthal of Cerity Partners said General Motors Company GM is generating a lot of cash that will come back to shareholders both in the form of dividends and buybacks.

On April 23, General Motors reported better-than-expected earnings for its fiscal first quarter. The company posted quarterly sales growth of 7.6% year-on-year to $43.01 billion, beating the analyst consensus estimate of $41.88 billion. Adjusted EPS of $2.62 beat the consensus estimate of $2.14, according to data from Benzinga Pro.

Price Action:

• Utilities Select Sector SPDR Fund rose 0.3% on Thursday.
• Verizon shares fell 0.7% to settle at $39.22 during Thursday's session.
• General Motors shares rose 1.2% to close at $45.62 during Thursday's session.

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