Starbucks, Freeport-McMoRan, Constellation Energy And More On CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Joshua Brown of Ritholtz Wealth Management said he is keeping an eye on Starbucks Corporation SBUX. The stock is expected to make another run at $100, he added.

On Oct. 30, Starbucks reported weaker-than-expected fourth-quarter results. The company posted quarterly earnings of 80 cents per share which missed the analyst consensus estimate of $1.03 per share. The company reported quarterly sales of $9.074 billion which missed the analyst consensus estimate of $9.375 billion.

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Shannon Saccocia of NB Private Wealth named The Utilities Select Sector SPDR Fund XLU as her final trade.

Sarat Sethi of DCLA named Freeport-McMoRan Inc. FCX as his final trade.

On Oct. 22, Freeport-McMoRan reported third-quarter FY24 results. Revenue stood at $6.79 billion, beating the consensus of $6.47 billion. Copper sales totaled 1.0 billion pounds, down 7% Y/Y and 2% above the July 2024 estimate, due to the timing of shipments and lower ore grades and operating rates in North America.

Joseph M. Terranova of Virtus Investment Partners picked Constellation Energy Corporation CEG, which pulled back on Monday.

On Nov. 4, Constellation Energy reported third-quarter results and revised its FY24 adjusted EPS guidance, which is below estimates.

Price Action:

• The Utilities Select Sector SPDR Fund fell 1.2% during Monday's session.
• Starbucks shares fell 1.9% to settle at $97.03 during Monday's session.
• Freeport-McMoRan shares gained 1.5% to close at $46.27 on Monday.
• Constellation Energy shares fell 12.5% to settle at $225.95 on Monday.

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