Jason Snipe’s Confidence in Blackstone Inc.
On CNBC’s “Halftime Report Final Trades,” Jason Snipe of Odyssey Capital Advisors expressed his favor for Blackstone Inc. despite the firm’s mixed fourth-quarter 2023 results.
Blackstone reported adjusted revenues of $2.54 billion, which fell short of the consensus of $2.57 billion. Additionally, distributable earnings (DE) rose 4% Y/Y to $1.39 billion, while fee-related earnings fell by 2% Y/Y to $1.04 billion.
Costco’s Battle Against Unauthorized Access
Joe Terranova of Virtus Investment Partners highlighted Costco Wholesale Corporation as his final trade. In an effort to tackle unauthorized access to its stores, Costco is implementing new measures, including a trial of a scanning system at store entrances, as reported by CNN Business.
Stephanie Link’s Pick: Zimmer Biomet Holdings, Inc.
Stephanie Link of Hightower chose Zimmer Biomet Holdings, Inc., which is expected to report quarterly earnings next week.
Zimmer Biomet is anticipated to report its fourth-quarter earnings on Feb. 8, 2024. Analysts project the company to report quarterly earnings at $2.15 per share, up from $1.88 per share in the year-ago period, and to post revenue of $1.93 billion, compared to $1.83 billion a year ago.
Price Action:
- Blackstone shares fell 2.2% to close at $124.45 on Wednesday.
- Shares of Costco slipped 0.8% to close at $694.88 on Wednesday.
- Zimmer Biomet shares gained 2.6% to settle at $125.60 during Wednesday’s session.
