(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) New York Stock Exchange insider Jay Wood pointed to rising momentum in Pfizer and two other beaten-down stocks that he believes pro traders should watch ahead of their upcoming quarterly results. As markets sit in the lull period between the last earnings season and the next, the chief market strategist at Freedom Capital Markets called out Pfizer as a name could continue to gain as investors look to the final quarter of the year. “Pfizer, talk about a turnaround … health care, pharma stocks starting to turn around because of that news last week. Let’s see if that momentum can continue,” Woods said. “When you’re looking at levels in Pfizer, watch $29 — another two more points to go. If you break above that, it breaks out of a nice neutral base and could go into $35 over the coming six to eight weeks. The pharmaceutical giant are now up more than 1.5% for the year after its 15.2% rally last week. The move was sparked by Pfizer’s deal with the Trump administration to receive a three-year exemption to tariffs in exchange for its commitment to invest in domestic manufacturing and agreement to lower U.S. drug prices for Medicaid patients. PFE 1Y mountain Pfizer stock performance over the past year. Woods is also watching Delta Air Lines and PepsiCo ahead of their earnings Thursday before the bell, particularly because the stocks could present a buying opportunity in un-loved parts of the market. “Transports have been lagging. Delta, believe it or not, it’s down [3%] for the year. For the last three quarters, it was up 9%, up 23%, up 12% after earnings. So it has reacted positively, but it can never keep that momentum going,” Woods said about the airline company. “Let’s see what that guide is in Delta, and see if you finally get back to the plus side for the year.” PepsiCo, meanwhile, is down more than 7% this year but could report results that push the stock past a key resistance level, according to Woods. “Staples have been hammered all year. … If we can get back above $146, it may be on a road to recovery and get that stock positive for the year,” Woods said about the beverage giant, which traded around $140 on Monday. What else Woods is watching this week: Traders have shrugged off the U.S. government shutdown, with the S & P 500 looking to build on its most recent all-time highs in the start of the new trading week From the Fed: Federal Reserve minutes out Wednesday at 2 p.m. ET and commentary from Vice Chair Michelle Bowman, Governor Stephen Miran and Minneapolis Fed President Neel Kashkari expected this week Economic data: Consumer sentiment due Friday at 10 a.m. ET “could give us an idea of what the consumer is thinking, but again, shouldn’t move the needle.” Market movers: OpenAI’s deal with Advanced Micro Devices that could give OpenAI a 10% stake in the chipmaker ; Fifth Third Bancorp’s acquisition of Comerica for $10.9 billion is “a positive tailwind” (This weekly Monday video is exclusively for CNBC PRO subscribers.)
