Apollo Global, SLB, Blackstone And A China Tech Heavyweight On CNBC's 'Final Trades'

On CNBC’s "Halftime Report Final Trades," Rob Sechan, managing partner at NewEdge Wealth, said Alibaba Group Holding Limited (NYSE:BABA) is still cheap since last week.

Alibaba Group tapped James Dong, 44, as the new acting CEO of its South Asian online retailer, Daraz Group. This move is part of a broader management reshuffle at the Chinese e-commerce giant.

Karen Firestone, CEO at Aureus Asset Management, named Blackstone Inc. (NYSE:BX), which is scheduled to release quarterly earnings today.

Morgan Stanley analyst Michael Cyprys maintained Blackstone with an Overweight rating and raised the price target from $120 to $144.

Blackstone is expected to report financial results for the fourth quarter on Jan. 25, 2024. Analysts expect the company to report quarterly earnings at 96 cents per share, compared to $1.07 per share in the year-ago period. The company is likely to report quarterly revenue of $2.57 billion, compared to $2.34 billion in the year-earlier quarter.

Don’t forget to check out our premarket coverage here

Joe Terranova, senior managing director at Virtus Investment Partners, said Apollo Global Management, Inc. (NYSE:APO) is breaking out.

Morgan Stanley analyst Michael Cyprys maintained Apollo Global Management with an Equal-Weight rating and raised the price target from $94 to $99.

Stephanie Link, Hightower chief investment strategist and portfolio manager, said she continues to like Schlumberger Limited (NYSE:SLB). The company reported a phenomenal quarter, she added.

Schlumberger recently reported a fourth-quarter fiscal 2023 revenue increase of 14% year-over-year to $8.99 billion, beating the consensus of $8.95 billion.

Price Action:

• Alibaba shares gained 1.6% to close at $75.20
• Blackstone shares rose 1.4% to close at $120.63 on Wednesday
• Apollo Global Management shares gained 2.9% to settle at $98.08
• SLB rose 2.5% to $51.67 during Wednesday’s session.

Check This Out: Top 3 Tech Stocks That May Plunge This Month

Image: Shutterstock