Citigroup, Alphabet And More On CNBC's 'Final Trades'
Benzinga
Published Mar 04, 2024 13:24
Updated Mar 04, 2024 14:40
Citigroup, Alphabet And More On CNBC's 'Final Trades'
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
On CNBC’s "Halftime Report Final Trades," Bryn Talkington of Requisite Capital Management said Pacer US Cash Cows 100 ETF (CBOE: COWZ) has an 8.5% free cash flow yield.
Jim Lebenthal of Cerity Partners said he is bullish on big financials, and Citigroup Inc. (NYSE: C) is one of them.
On Feb. 28, Citigroup announced full redemption of Series J preferred stock. On Jan. 12, Citigroup reported a fourth-quarter FY23 revenue decline of 3% year-over-year to $17.44 billion, missing the consensus of $18.74 billion. Adjusted EPS of $0.84 beat the consensus of $0.81. Citigroup expected to cut 20,000 jobs in the “medium term” as it reported its worst quarter for 15 years, the Financial Times reported.
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Steve Weiss of Short Hills Capital Partners said Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) is extremely cheap.
Alphabet’s Google faced a massive 2.1-billion-euro lawsuit from 32 media groups, including Berlin-based Axel Springer SE and Oslo, Norway-based Schibsted Media Group. The plaintiffs accused the tech giant of inflicting financial losses through its digital advertising practices.
The lawsuit highlights Google’s alleged market dominance abuse, suggesting that without such practices, these media companies would have earned significantly more from advertising and paid less for ad tech services, Reuters reported.
Price Action:
- Pacer US Cash Cows 100 ETF gained 1.1% on Friday.
- Citigroup shares rose 0.2% to close at $55.60 during Friday’s session.
- Alphabet shares fell 1.2% to close at $138.08 on Friday.
Image: Shutterstock
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