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 (NYSE: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 (NYSE: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. (NYSE: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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