On CNBC’s "Halftime Report Final Trades," Rob Sechan, managing partner at NewEdge Wealth, said Alibaba Group Holding Limited 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. 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. 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 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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
