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CNBC’s ‘Final Trades’ Review: Disney, Progressive, Leidos, and More

On CNBC’s “Halftime Report Final Trades,” Steve Weiss of Short Hills Capital Partners shared his positive sentiment on Leidos Holdings, Inc. (NYSE: LDOS), citing its favorable pricing and new management. “I like this one a lot,” he added.

Leidos reported robust fourth-quarter financial results with an 8% year-over-year revenue growth to $3.98 billion, surpassing the consensus of $3.80 billion. Additionally, it achieved an adjusted EPS of $1.99, reflecting a 9% increase year-over-year and exceeding the consensus of $1.74.

Jim Lebenthal of Cerity Partners recommended The Walt Disney Company (NYSE: DIS) as his final trade, noting its better-than-expected earnings for the first quarter. He highlighted the company’s declaration of a 45 cents per share cash dividend, announcement of a new share repurchase program, and its expectation of approximately $4.60 per share earnings for fiscal 2024.

In a surprise move, Disney revealed a $1.5 billion investment in video game company Epic Games, much to the dismay of activist investor Nelson Peltz, who has been engaged in a proxy fight with Disney over stock underperformance.

Jenny Harrington of Gilman Hill Asset Management emphasized NextEra Energy, Inc. (NYSE: NEE-PR) and its appealing 9.75% yield based on the company’s better-than-expected fourth-quarter results.

Joe Terranova of Virtus Investment Partners chose The Progressive Corporation (NYSE: PGR), emphasizing the company’s positive results for the month ended Jan. 31, 2024, with a net income of $700.7 million.

Share Performance:

  • 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.
  • Progressive: Shares gained 3.2% to close at $187.95 on Wednesday.
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