Investors Weigh In on ServiceNow, Live Nation, and Bristol-Myers Squibb
On CNBC’s “Halftime Report Final Trades,” investment experts highlighted three significant stocks, focusing on their recent performance and potential for growth. Notably, ServiceNow, Inc. has drawn attention as it currently sits about 25% below its 52-week high. According to Malcolm Ethridge, managing partner at Capital Area Planning Group, this decline may present an attractive entry point for investors.
In terms of earnings, ServiceNow reported second-quarter revenue of approximately $3.22 billion on July 23, 2023, surpassing the consensus estimate of $3.12 billion, as noted by Benzinga Pro. Additionally, the company achieved adjusted earnings of $4.09 per share, exceeding analyst expectations of $3.57 per share. This strong performance highlights the company’s resilience in a competitive market.
Moving to the health sector, Jenny Van Leeuwen Harrington, CEO of Gilman Hill Asset Management, LLC, advocated for investing in Bristol-Myers Squibb Company. With a dividend yield of 5.5% and a consistent dividend payment record spanning 55 years, the company remains an appealing option. While it may not qualify as a dividend aristocrat due to a lack of consistent increases, Harrington emphasized its overall strength. Supporting her confidence, Bristol-Myers Squibb reported better-than-expected second-quarter sales on July 31, 2023, and raised its sales guidance for FY25 above analyst estimates.
Another stock on the radar is Live Nation Entertainment, Inc., which Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, identified as his final trade. Analyst Robert Fishman from MoffettNathanson initiated coverage on Live Nation on August 18, 2023, giving it a Buy rating and setting a price target of $195. This endorsement could bolster investor interest in the entertainment giant.
In terms of recent market performance, shares of ServiceNow experienced a decline of 1.5%, closing at $876.97 on Thursday. Conversely, Bristol-Myers Squibb saw a modest rise of 0.4%, ending the session at $48.43, while Live Nation Entertainment’s shares increased by 0.4%, finishing at $162.47.
As investors continue to navigate the complexities of the stock market, these insights from industry experts may guide decision-making for those considering these notable stocks.
