On CNBC’s “Halftime Report Final Trades,” Rob Sechan, CEO of NewEdge Wealth, said Blackstone Inc. (NYSE:BX) reported great results.
On Thursday, Blackstone reported fourth-quarter results, with distributable earnings per share of $1.75 (+4% Y/Y), beating the analyst consensus estimate of $1.53. Distributable earnings rose 3% Y/Y to $2.24 billion in the quarter. The alternative asset manager firm reported segment revenues of $3.94 billion, down 5% year over year (Y/Y), beating the analyst consensus estimate of $3.72 billion.
Malcolm Ethridge, managing partner at Capital Area Planning Group, named International Business Machines Corporation (NYSE:IBM) as his final trade.
Lending support to his choice, IBM, on Wednesday, reported fourth-quarter revenue of $19.69 billion, beating the consensus estimate of $19.23 billion, according to Benzinga Pro. The company reported fourth-quarter adjusted earnings of $4.52 per share, beating analyst estimates of $4.32 per share.
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Jim Lebenthal, partner at Cerity Partners, picked Cisco Systems, Inc. (NASDAQ:CSCO) as his final trade.
Supporting his view, Evercore ISI Group analyst Amit Daryanani upgraded Cisco Systems from In-Line to Outperform and raised the price target from $80 to $100 on Monday.
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, named Exxon Mobil Corporation (NYSE:XOM).
Exxon Mobil reported its quarterly earnings before the opening bell on Friday. The company posted quarterly earnings of $1.71 per share, beating the consensus estimate of $1.67, and revenue of $82.3 billion, beating the $81.47 billion estimate.
Price Action:
- Blackstone shares fell 2.6% to close at $142.94 on Thursday.
- IBM shares gained 5.1% to settle at $309.24 during the session.
- Cisco shares fell 0.7% to close at $78.43 on Thursday.
- Exxon Mobil shares rose 2.1% to settle at $140.51.
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