Speaker · Updated
Kari Firestone: latest market views
Aureus Asset Management
Summary
Karen (Kari) Firestone is co-founder and chair emerita (formerly chairman and CEO) of Boston-based Aureus Asset Management and a regular CNBC contributor and Investment Committee member on Halftime Report and Squawk Box.
Chorus has 7 views from Kari Firestone across 2 episodes on CNBC Halftime Report since October 14, 2026. Their latest calls: bullish on NextEra Energy and Thermo Fisher Scientific.
Where they stand
Their latest bullish or bearish call on each company.
- NextEra EnergyBullish ·
- Thermo Fisher ScientificBullish ·
What they talk about most
The latest views
Newest first. Every quote is checked against the episode's transcript.
AI infrastructure & data centers
Hyperscaler capex is consuming cash flow; earnings must prove the spending is worth it.
The trade is being retested on whether earnings are good enough, starting with Meta tonight. Capex has held back the trade because hyperscalers are spending so much that it uses up their cash flow. The top 10 S&P names hold about $30 trillion of market cap, so the market needs good earnings from them to move the index, and the S&P has not done anything for months.
“We're gonna hear about CapEx, which is the big factor that has held back some of the trade because they're spending so much, and that's using up all their cash flow.”at 4:27
CNBC Halftime Report: Will the AI Trade Resume? The Investment Committee Weighs in 10/21/26 ·
NextEra EnergyBullish
NextEra would benefit if a change in Congress brings back sustainability policy support.
Firestone calls NextEra a great utility. Her case is conditional: if the House changes hands and sustainability returns as a policy priority, that would help NextEra, which is a major renewable energy developer. The argument is brief and hinges on the political outcome, so it is a conditional bullish view rather than an unconditional call.
“it's a great utility. And if we get a change in the house, bring back the word sustainability, which would help NextEra.”at 47:23
CNBC Halftime Report: Will the AI Trade Resume? The Investment Committee Weighs in 10/21/26 ·
A 5-10% pullback would be healthy after the S&P's 19.5% run and rising rates.
Since the end of March the S&P is up 19.5% after a 5% drawdown, and mega-cap tech names are up roughly 30 to 40%. With inflation high and rates rising, the market has run ahead of itself and should react to rates. A 5% to 10% decline would be healthy in her view. She adds that the pullback should come from leaders whose earnings matter, and that the earnings reports about two weeks out are the ones that count.
“The market has had this enormous run. Maybe we're a little ahead of ourselves. There should be some reaction to the market because of interest rates. And if it were to come in 5% to 10%, that would be healthy in our opinion.”at 4:38
CNBC Halftime Report: Rising Yields & Rally Risk: The Investment Committee's Strategy 10/14/26 ·
Enterprise AI adoption & AI software
Banks spend heavily on AI, but none yet report AI-driven revenue or profits; the market is waiting.
Going through the bank earnings transcripts, she found that apart from Morgan Stanley, no bank said it is generating substantial revenue from its AI use in operations. The banks acknowledge heavy AI spending as an important factor on their platforms, but none has discussed the earnings or profitability AI is producing. She says the market is waiting to hear it from CEOs because the cost is known.
“But no one has talked about how they're generating... earnings and profitability from it. I think the market is waiting for that and hoping that they'll see it soon.”at 12:42
CNBC Halftime Report: Rising Yields & Rally Risk: The Investment Committee's Strategy 10/14/26 ·
Chip stocks likely fall about 30% from peak before plateauing, as past cycles at Nvidia, Micron and TSMC showed.
Chip stocks have seen unprecedented acceleration and interest over the past year, so a decline is not surprising. Based on how cycles have played out at Nvidia, Micron, TSMC and Texas Instruments, stocks often rise, then drop about a third before plateauing. She therefore expects a drop of roughly 30%, and says the question is how far the decline goes and whether it accelerates. She calls this unhealthy, and her hedge is that 30% is a rough benchmark ('maybe').
“I would say 30% is where a lot... Lots of times the cycle goes up, and then they drop about a third before they start to plateau.”at 19:23
CNBC Halftime Report: Rising Yields & Rally Risk: The Investment Committee's Strategy 10/14/26 ·
NextEra EnergyBullish
NextEra is a play on rising power demand; it is the largest builder of new US power.
Firestone owns NextEra. She argues that next year the stock is a play on more power, because the US needs more power generation. She cites NextEra as the largest builder of new power, and so she sees a long runway for growth.
“Well, next year is a play on more power. We need power generation in this country. They are the largest builder of new power, and we therefore think if there's a long runway to go.”at 39:52
CNBC Halftime Report: Rising Yields & Rally Risk: The Investment Committee's Strategy 10/14/26 ·
Thermo Fisher ScientificBullish
Thermo Fisher has broken out after years of COVID hangover; research funding is loosening.
Firestone says Thermo Fisher has finally broken out. She says the stock needed years to recover from the COVID hangover. The breakout is her main evidence for a bullish view on the stock.
“Thermo Fisher, this stock has finally broken out and has taken years to get over the COVID hangover.”at 46:04
CNBC Halftime Report: Rising Yields & Rally Risk: The Investment Committee's Strategy 10/14/26 ·
Shows
- CNBC Halftime Report · 2 episodes
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Chorus reports what speakers said. It isn't investment advice.