Stocks may be hovering around record highs, but TIAA Portfolio Manager Stephanie Link is still finding unloved areas of the market -- specifically stocks that haven't reacted to positive earnings results.
On Wednesday she added to her positions in , , and since she believes these stocks unfairly sold off following their most recent earnings report.
The Redwood City-based company hit a 52-week high on June 22 after reporting earnings and revenue that topped Street expectations. But as Stephanie Link points out, the stock has fallen almost six percent since then.
She sees the dip lower as an attractive entry point since the company's fundamentals haven't changed.
"I think their transition to cloud is going much more smoothly. They're making much more progress," she said on the "Halftime Report."
She also believes the company -- which trades at sixteen times forward earnings -- is at an "inflection point" for earnings and margins.
Like Oracle, Cummins is another name that's fallen since its post-earnings high.
The company surpassed earnings and revenue expectations when it reported quarterly results on August 1st, but a lack of margin expansion led to some investors taking profits and therefore putting pressure on the stock price.
The stock has now fallen more than ten percent from its recent high, and Link sees the sell-off as a buying opportunity.
She believes the margins -- which many investors took issue with -- were impacted by a "one-time warranty cost," and she likes the company's valuation and dividend yield.
The Columbus, Indiana-based company trades at fourteen times forward earnings, and yields 2.82%.
Despite strong second quarter results, Union Pacific is down almost nine percent from its 52-week high, and it has also drastically under performed its peers this year.
Link, however, is bullish on the company. She likes the management team, and she believes they are making important structural changes.
"This company is doing a very good job at controlling their costs, their operating ratio...margins are going up," she said on the "Halftime Report."
With Union Pacific trailing behind its peers, Link also believes there could be some shifts in the rail space -- specifically investors taking profits in Kansas City Southern and CSX, and putting the money to work in Union Pacific.
Trader Disclosure: Stephanie Link owns Oracle, Cummins, and Union Pacific.