The company reported adjusted revenues of $2.54 billion, missing the consensus of $2.57 billion. Distributable earnings (DE) rose 4% Y/Y to $1.39 billion. Fee-related earnings fell by 2% Y/Y to $1.04 billion.

Joe Terranova of Virtus Investment Partners named Costco Wholesale Corporation (NASDAQ:COST) as his final trade.

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Stephanie Link of Hightower picked Zimmer Biomet Holdings, Inc. (NYSE:ZBH), which is expected to report quarterly earnings next week.

Zimmer Biomet is expected to report its fourth quarter earnings on Feb. 8, 2024. Analysts expect the company to report quarterly earnings at $2.15 per share, up from $1.88 per share in the year-ago period. The company is likely 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.

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