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 (NYSE:XLU) as her final trade.

Jason Snipe of Odyssey Capital Advisors said he likes Verizon Communications Inc. (NYSE: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 (NYSE: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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