On CNBC’s “Halftime Report Final Trades,” Joseph Terranova of Virtus Investment Partners highlighted Merck & Co., Inc. MRK as his final trade.
Recently, the FDA issued a Complete Response Letter (CRL) regarding Merck’s New Drug Application (NDA) for gefapixant, a potential treatment for refractory chronic cough (RCC) or unexplained chronic cough (UCC) in adults. The FDA concluded that Merck’s application lacked substantial evidence of effectiveness for treating RCC and UCC.
Stephanie Link of Hightower shared that total revenues of McDonald’s Corporation MCD are anticipated to rise.
It’s worth noting that Gerbang Alaf Restaurants Sdn Bhd (GAR), the licensee of McDonald’s in Malaysia, has reportedly taken legal action against the Boycott, Divestment and Sanctions (BDS) Malaysia movement. Additionally, HSBC analyst Meredith Jensen initiated McDonald’s coverage with a Buy rating and a price target of $317.
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Bryn Talkington of Requisite Capital Management mentioned that the Pacer US Cash Cows 100 ETF COWZ has a free cash flow yield of around 9%, labeling it a “great trade for 2024.”
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. The Pacer US Cash Cows 100 ETF experienced a 0.5% loss during the same session.
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