On CNBC’s “Halftime Report Final Trades,” Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, named Netflix, Inc. (NASDAQ:NFLX) as his final trade.
On the earnings front, Netflix reported mixed second-quarter financial results on July 16 and issued weak guidance for the third quarter. Netflix reported second-quarter revenue of $12.56 billion, up 13% year-over-year. The revenue total missed a Street estimate of $12.59 billion, according to data from Benzinga Pro. Second-quarter earnings of 80 cents per share beat a Street consensus estimate of 79 cents per share.
Stephanie Link, chief investment strategist, head of investment solutions and equity portfolio manager at Hightower Advisors, said Quanta Services, Inc. (NYSE:PWR) is down 25% from its highs.
Quanta Services announced that it will release its second-quarter financial results on Thursday, July 30, before the opening bell. Analysts expect the company to report quarterly earnings of $3.31 per share on revenue of $8.59 billion.
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Joseph M. Terranova, senior managing director for Virtus Investment Partners, recommended Raymond James Financial, Inc. (NYSE:RJF) following the release of quarterly earnings.
Raymond James, on July 22, reported third-quarter earnings of $3.14 per share, which beat the analyst consensus estimate of $2.91 per share. The company reported quarterly sales of $3.930 billion, which beat the analyst consensus estimate of $3.875 billion.
Price Action:
- Netflix shares gained 2.8% to close at $72.39 on Tuesday.
- Quanta Services shares fell 5.2% to settle at $588.36 during the session.
- Raymond James Financial shares gained 2.1% to close at $177.18 on Tuesday.
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