Blackstone, Zimmer Biomet And A Membership Warehouse Retailer: CNBC's 'Final Trades'

On CNBC’s "Halftime Report Final Trades," Jason Snipe of Odyssey Capital Advisors said he likes Blackstone Inc. BX here, despite the firm's mixed fourth-quarter 2023 results.

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 COST as his final trade.

In a bid to curb unauthorized access to its stores, retail giant Costco is implementing new measures, including a trial of a scanning system at store entrances. Costco is taking action against non-members who have been using membership cards that do not belong to them to gain entry, particularly since the introduction of self-checkout, reported CNN Business.

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Stephanie Link of Hightower picked Zimmer Biomet Holdings, Inc. 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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