Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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.
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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.
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