Citigroup, Elanco Animal Health And A Tech Stock: CNBC's 'Final Trades'
On CNBC's “Halftime Report Final Trades,” Jim Lebenthal of Cerity Partners named Citigroup Inc. (NYSE:C), which is scheduled to release earnings on Friday. “The market believes it’s going to be good, so do I,” he said.
Analysts expect Citigroup to report quarterly earnings at $1.41 per share, up from $1.33 per share in the year-ago period. The bank is projected to report revenue of $20.08 billion, compared to $19.44 billion in the year-earlier quarter.
Stephanie Link of Hightower picked Elanco Animal Health Incorporated (NYSE:ELAN). “I like it on the buy because they have a lot of new products coming,” she added.
On June 27, Elanco Animal Health released updates to the expected FDA approval timelines for Zenrelia and Credelio Quattro. Zenrelia is a JAK Inhibitor that controls pruritus and atopic dermatitis in dogs. For Zenrelia, the FDA confirmed that all major technical sections (Effectiveness, Safety and Chemistry, Manufacturing, and Controls (CMC)) are complete as of late June.
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Joseph M. Terranova of Virtus Investment Partners named Corning Incorporated (NYSE:GLW) as his final trade.
On Monday, Corning increased its second-quarter core sales guidance. The company now projects core sales to be approximately $3.6 billion (vs. consensus of $3.41 billion), an increase from the previous guidance of $3.4 billion. Core EPS is expected to reach the high end of, or slightly exceed, the management's guided range of 42 cents to 46 cents (vs. estimate of 45 cents).
Price Action:
- Citigroup shares gained 1.1% to close at $64.74 on Monday.
- Elanco Animal Health fell 2% to settle at $13.94 during Monday's session.
- Corning shares gained 12% to close at $43.05 during Monday's session.
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Image created using artificial intelligence via Midjourney.