On CNBC’s “Halftime Report Final Trades,” Joseph Terranova of Virtus Investment Partners named Merck & Co., Inc. (NYSE:MRK) as his final trade.
The FDA issued a Complete Response Letter (CRL) regarding Merck’s New Drug Application (NDA) for gefapixant under development for the treatment of refractory chronic cough (RCC) or unexplained chronic cough (UCC) in adults. In the CRL, the FDA concluded that Merck’s application did not meet substantial evidence of effectiveness for treating RCC and UCC.
Stephanie Link of Hightower said total revenues of McDonald’s Corporation (NYSE:MCD) are expected to increase.
Gerbang Alaf Restaurants Sdn Bhd (GAR), which is the licensee of McDonald’s in Malaysia, has reportedly initiated a legal action against the Boycott, Divestment and Sanctions (BDS) Malaysia movement. HSBC analyst Meredith Jensen, last month, initiated coverage on McDonald’s with a Buy rating and announced a price target of $317.
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Bryn Talkington of Requisite Capital Management said Pacer US Cash Cows 100 ETF (CBOE: COWZ) has a free cash flow yield of around 9%. “Great trade for 2024,” she added.
Price Action: Merck shares gained 1.4% to close at $114.77, while McDonald’s fell 0.9% to settle at $294.39 on Wednesday. Pacer US Cash Cows 100 ETF lost 0.5% during Wednesday’s session.
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