CNBC's Final Trades: Cleveland-Cliffs, McKesson And These Defensive Plays

On CNBC’s “Halftime Report Final Trades,” Jon Najarian said that Cleveland-Cliffs Inc’s (NYSE: CLF) stock had declined more than 30% in a month. “I like it. I bought the stock,” Najarian stated. “They’re buying upside calls in the 18 strike,” he added.

Jason Snipe of Odyssey Capital Advisors said he liked pharmaceutical distributer McKesson Corporation (NYSE: MCK). The company has 9.6% free cash flow yield and a little over 10% long-term growth rates, Snipe mentioned. “It’s done well this year but I think there’s some runway still to go here,” he added.

Check out other stocks making big moves in the premarket.

Bryn Talkington of Requisite Capital Management chose JPMorgan Equity Premium Income ETF (NYSEARCA: JEPI) as her final trade. “They own about 100 S&P names, each about 2% holdings, they are overweight energy,” Talkington said. “Between the dividends and selling the call premiums, you’re earnings about a 10% or 11% yield, while you have a defensive strategy,” she added.

Joshua Brown of Ritholtz Wealth Management chose SPDR Nuveen Bloomberg Short Term Mun Bond ETF (NYSEARCA: SHM).