On CNBC’s “Halftime Report Final Trades,” Rob Sechan of New Edge Capital Group said Gilead Sciences, Inc. (NASDAQ:GILD) is a very defensive, steady growth play. “It is cheap, cheap, cheap,” he added.
Gilead Sciences reported Q1 FY23 sales decreased 4% Y/Y to $6.35 billion, slightly above the consensus of $6.33 billion, due to lower Veklury (remdesivir) sales, partially offset by increased sales in HIV and oncology. “Biktarvy outperformed once again, and Oncology revenue increased 59% year-over-year, driven by Trodelvy and Cell Therapy,” said Daniel O’Day, Gilead’s chairman & CEO.
Jason Snipe of Odyssey Capital Advisors said he likes American Express Company (NYSE:AXP). The stock has been little volatile over the last few weeks, following downbeat quarterly earnings, but volume was up 16%.
American Express reported Q1 revenue (net of interest expense) growth of 22% year-on-year to $14.28 billion, exceeding the consensus of $14.03 billion. EPS of $2.40 missed the consensus of $2.65.
Stephanie Link of Hightower said Chevron Corporation (NYSE:CVX) is down 15% from its high level.
Chevron reported first-quarter FY23 sales of $50.79 billion, a decline of 6.6% year-over-year, beating the consensus of $47.98 billion.
Price Action: Chevron shares gained 2.6% to settle at $160.21, while American Express added 2.6% to $152.65 on Friday. Gilead Sciences shares rose 1.6% to close at $79.75 on Friday.
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