According to Woofun AI, CNBC's "Halftime Report Final Trades" spotlighted core position changes at three institutions, with RTX Corp, Tesla Motors and Nutrien Ltd each making the "final trades" list on the basis of better-than-expected results, an analyst upgrade and upcoming earnings expectations respectively.
Bill Baruch, founder of Blue Line Capital and Blue Creek Capital Management, holds a heavy position in RTX Corp (NYSE: RTX), with the core logic resting on the strong third-quarter earnings the company reported on October 20. RTX's quarterly revenue reached $24.97 billion, up 11% year over year and well above the $24.08 billion analysts expected; adjusted earnings per share came in at $2.26, far surpassing the consensus estimate of $1.78. On that basis, the company also raised its full-year earnings and revenue guidance in tandem. Data compiled by Woofun AI shows the improvement in RTX's fundamentals became the key driver behind its selection.
Bryn Talkington, managing director at Requisite Capital Management, picked Tesla Motors (NASDAQ: TSLA) as her final investment target, a call backed by Barclays analyst Dan Levy. Levy upgraded Tesla to "overweight" from "equal weight" and lifted his price target to $450 from $370, reflecting optimism in the market about a recovery in Tesla's valuation.
Joseph M. Terranova, senior managing director at Virtus Investment Partners, bet on Nutrien Ltd (NYSE: NTR), with the key catalyst set for third-quarter results due after the close on Wednesday, November 4. The market expects Nutrien to post earnings per share of 77 cents and revenue of $5.67 billion for the quarter. This marks the second time the agricultural fertilizer sector has come into mainstream institutional view following RTX's earnings delivery, suggesting capital is rotating from pure growth stocks toward traditional industries with earnings certainty.
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