Disney, Progressive, Leidos And More: CNBC's 'Final Trades'

On CNBC’s "Halftime Report Final Trades," Steve Weiss of Short Hills Capital Partners said Leidos Holdings, Inc. LDOS is still cheap with a new management. "I like this one a lot," he added.

Leidos reported better-than-expected fourth-quarter financial results. The company reported fourth-quarter FY23 revenue growth of 8% year-over-year to $3.98 billion, beating the consensus of $3.80 billion.

It clocked an adjusted EPS of $1.99, up 9% year-over-year, beating the consensus of $1.74.

Jim Lebenthal of Cerity Partners named The Walt Disney Company DIS as his final trade.

Disney reported better-than-expected earnings for its first quarter and declared a cash dividend of 45 cents per share. The movie studio also announced a new share repurchase program and said it expects fiscal 2024 earnings of roughly $4.60 per share.

The company also disclosed, to the dismay of activist investor Nelson Peltz, a $1.5 billion investment in video game company Epic Games.

For months, Peltz has been in a proxy fight with Disney based on stock underperformance.

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Jenny Harrington of Gilman Hill Asset Management said NextEra Energy, Inc. (NYSE: NEE-PR) has a 9.75% yield.

NextEra Energy reported better-than-expected results for its fourth quarter.

Joe Terranova of Virtus Investment Partners picked The Progressive Corporation PGR. Progressive reported results for the month ended Jan. 31, 2024, posting net income of $700.7 million.

Price Action:

• Leidos shares gained 0.2% to settle at $121.50 on Wednesday.
• Disney shares gained 2% to close at $111.56 during Wednesday’s session.
• NextEra Energy gained 1.6% to settle at $35.98 on Wednesday.
• Shares of Progressive gained 3.2% to close at $187.95 on Wednesday.

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