On CNBC’s “Halftime Report Final Trades,” Jim Lebenthal, partner and chief market strategist at Cerity Partners, named Qualcomm Incorporated (NASDAQ:QCOM) as his final trade.
Qualcomm outlined the acceleration of its diversification strategy at its 2026 Investor Day on June 24. In connection with the event, the semiconductor company announced updated long-term revenue targets.
Qualcomm now expects non-handset revenue of $40 billion by fiscal 2029, which includes more than $15 billion in data center revenue, more than $14 billion in IoT revenue and $10 billion in Automotive revenue.
Separately, Qualcomm expanded its partnership with Hugging Face to accelerate open, developer-focused artificial intelligence across devices and cloud infrastructure.
Stephanie Link, chief investment strategist, head of investment solutions and equity portfolio manager at Hightower Advisors, picked Rockwell Automation, Inc. (NYSE:ROK).
Rockwell Automation, on June 9, approved an additional $1 billion to repurchase shares of common stock, while the company’s board also declared a quarterly dividend of $1.38 per share.
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Joseph M. Terranova, senior managing director for Virtus Investment Partners, recommended Merck & Co., Inc. (NYSE:MRK).
Merck, on June 22, said its investigational therapy tulisokibart achieved the primary endpoint in a Phase 3 study in moderately to severely active ulcerative colitis (UC), marking what the company described as the first positive Phase 3 induction results for an anti-TL1A biologic.
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, picked Simon Property Group, Inc. (NYSE:SPG).
On Thursday, Barclays analyst Richard Hightower maintained Simon Property Group with an Equal-Weight rating and raised the price target from $212 to $213.
Price Action
- Qualcomm gained 3.8% to close at $204.90 on Thursday.
- Rockwell Automation shares rose 4.1% to settle at $479.39 during the session.
- Merck shares gained 4% to close at $125.45 on Thursday.
- Simon Property shares 1.5% to settle at $225.49 during the session.
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