Will Alphabet 'Storm Back?' Plus: Progressive, D.R. Horton And Pfizer On CNBC's 'Final Trades'

Zinger Key Points
  • Jason Snipe says Progressive has 26% long-term growth.
  • D.R. Horton is trading at 11 times earnings, says Stephanie Link.

On CNBC’s "Halftime Report Final Trades," Joshua Brown of Ritholtz Wealth Management named Pfizer Inc. PFE as his final trade.

Pfizer announced that a Phase 3 study of the antibody-drug conjugate Adcetris (brentuximab vedotin) combined with lenalidomide and rituximab for relapsed/refractory diffuse large B-cell lymphoma (DLBCL) showed a statistically significant and clinically meaningful improvement in overall survival (OS) compared to lenalidomide and rituximab plus placebo.

Jim Lebenthal of Cerity Partners picked Alphabet Inc. GOOGGOOGL. "I think this one is coming back. The failed image generator is much like what happened a year ago when it came storming back after that," he added.

In a surprising turn of events, on March 8, Alphabet’s Google revealed that its latest Pixel 8 smartphone will miss out on the highly-anticipated Gemini Nano AI feature.

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Jason Snipe of Odyssey Capital Advisors said he likes The Progressive Corporation PGR for its solid earnings and 26% long-term growth.

On March 6, Morgan Stanley analyst Bob Huang upgraded Progressive from Equal-Weight to Overweight and raised the price target from $185 to $227.

Stephanie Link of Hightower said D.R. Horton, Inc. DHI is trading at 11 times earnings.

D.R. Horton is expected to release financial results for its second quarter ended March 31, 2024 on April 18, 2024 before the opening bell. Analysts expect the company to report quarterly earnings at $3.06 per share on revenue of $8.28 billion.

Price Action:

  • Pfizer shares fell 1.3% to close at $28.01 on Tuesday.
  • Alphabet shares rose 0.5% to close at $139.62 during Tuesday’s session.
  • Progressive shares rose 1.1% to settle at $198.94 on Tuesday.
  • Shares of D.R. Horton gained 1.3% to close at $154.62 on Tuesday.

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Posted In: Long IdeasNewsTop StoriesMarketsMediaTrading IdeasCNBCHalftime Report Final TradesJason SnipeJim LebenthalJoshua BrownStephanie Link
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