On CNBC’s “Halftime Report Final Trades,” Jason Snipe of Odyssey Capital Advisors expressed his confidence in Blackstone Inc. (BX). Despite the firm’s recent mixed fourth-quarter 2023 results, Snipe stands by his endorsement.
The company disclosed adjusted revenues of $2.54 billion, slightly missing the consensus estimate of $2.57 billion. Distributable earnings (DE) rose 4% year over year to $1.39 billion, while fee-related earnings dipped by 2% year over year to $1.04 billion.
Joe Terranova of Virtus Investment Partners highlighted Costco Wholesale Corporation (COST) as his final trade. Costco has initiated new security measures, including a trial of a scanning system at store entrances, aimed at deterring unauthorized access by non-members. These actions come in response to reports of non-members using unauthorized membership cards, especially with the introduction of self-checkout, as reported by CNN Business.
Stephanie Link of Hightower recommended Zimmer Biomet Holdings, Inc. (ZBH), as the company prepares to announce its quarterly earnings next week.
Zimmer Biomet is slated to report its fourth-quarter earnings on Feb. 8, 2024. Analysts anticipate quarterly earnings to reach $2.15 per share, up from $1.88 per share in the year-ago period. The company is expected to post revenue of $1.93 billion, compared to $1.83 billion a year ago.
Price Performance:
- Blackstone shares declined by 2.2% to close at $124.45 on Wednesday.
- Costco shares slipped by 0.8% to close at $694.88 on Wednesday.
- Zimmer Biomet shares gained 2.6% to settle at $125.60 during Wednesday’s session.