Organon, Howmet Aerospace And More: CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Stephen Weiss of Short Hills Capital Partners named ProShares Short QQQ PSQ as his final trade.

Jenny Van Leeuwen Harrington of Gilman Hill Asset Management said Organon & Co. OGN is back to 6% dividend yield.

On Sept. 18, Organon agreed to acquire Roivant Sciences Ltd's ROIV Dermavant Sciences Ltd, which is focused on developing and commercializing therapeutics in immunodermatology. Dermavant's novel product, Vtama (tapinarof) cream, 1%, for the topical treatment of mild, moderate, and severe plaque psoriasis in adults, was approved by the FDA in May 2022. Vtama cream is a once-daily, steroid-free, topical therapy applied to affected areas.

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Joseph M. Terranova of Virtus Investment Partners picked Howmet Aerospace Inc. HWM, an industrial name.

On July 30, Howmet Aerospace reported better-than-expected second-quarter FY24 financial results. The Board of Directors declared a dividend of 8 cents per share, payable on Aug. 26 to shareholders of record as of Aug. 9. Howmet Aerospace increased its revenue outlook to $7.40 billion-$7.48 billion (from $7.225 billion-$7.375 billion) versus the consensus of $7.33 billion and adjusted EPS to $2.53-$2.57 (from $2.31-$2.39) vs. the consensus of $2.39.

Price Action:

• ProShares Short QQQ slipped 0.1% during Wednesday's session.
• Organon shares fell 1.3% to settle at $18.58 on Wednesday.
• Howmet Aerospace shares gained 0.4% to close at $101.29 during Wednesday's session.

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