Joshua Brown insists on sticking with Amazon stocks

In the United States, during a segment on CNBC's 'Halftime Report Final Trades', several prominent analysts shared their investment opinions on stocks. Joshua Brown, representing Ritholtz Wealth Management, expressed his confidence in Amazon.com, Inc. as he decided to stay long on the company's stock. His positive sentiment coincided with Amazon's AWS re:Invent 2024 conference, where the company unveiled significant advancements including the general availability of Trainium2, updates to Bedrock, and enhanced database capabilities. These key announcements from the conference are expected to strengthen Amazon's position in the cloud computing sector. Additionally, Brian Belski of BMO Capital Markets highlighted AGCO Corporation, an industrial stock, as a top investment pick. This recommendation comes after Morgan Stanley analyst Angel Castillo initiated coverage on AGCO, giving it an Equal-Weight rating and setting a price target of $101. In the same segment, Jim Lebenthal of Cerity Partners chose On Holding AG, which had recently reported better-than-expected third-quarter sales results while raising its FY24 net sales guidance. However, the company's quarterly earnings of 17 cents per share missed the analyst consensus estimate of 23 cents per share. Furthermore, Stephanie Link of Hightower selected Las Vegas Sands Corp. as a potential investment, mentioning that the stock's performance over the past four years has been stagnant and forecasting better prospects for 2025. However, Las Vegas Sands also reported disappointing quarterly earnings of 44 cents per share, below the expected consensus of 54 cents per share. On the trading front, the reactions to these developments were mixed. Amazon's stock increased by 1.3%, closing at $213.44, while AGCO shares experienced a slight decline of 0.9%, settling at $100.56. On Holding saw an increase of 1.7%, closing at $59.54, while Las Vegas Sands fell by 2%, settling at $53.90. Overall, the traders’ sentiment reflected cautious optimism amid the stock market fluctuations.