Alibaba, Cleveland-Cliffs, Blackstone And A Major US Bank: CNBC's 'Final Trades'
Portfolio Pulse from Priya Nigam
Stephen Weiss of Short Hills Capital Partners named Alibaba Group Holding Limited (BABA) as his final trade on CNBC's 'Halftime Report Final Trades'. Alibaba Cloud's business communication and collaboration platform DingTalk will split from Alibaba Cloud as the latter will spin off from Alibaba Group to seek an IPO. Jim Lebenthal of Cerity Partners named Cleveland-Cliffs Inc. (CLF) as his final trade. Karen Firestone of Aureus Asset Management picked Blackstone Inc. (BX). Joseph Terranova of Virtus Investment Partners picked Morgan Stanley (MS).
August 17, 2023 | 1:08 pm
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NEUTRAL IMPACT
Alibaba Cloud's platform DingTalk will split from Alibaba Cloud as it seeks an IPO.
The split of DingTalk from Alibaba Cloud could lead to potential growth opportunities, but also introduces uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Cleveland-Cliffs Inc. was named as a final trade, despite US Steel rejecting an acquisition offer from them.
The rejection of the acquisition offer introduces uncertainty, but the company's strong cash flow could provide stability.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Morgan Stanley was picked as a final trade, despite a 14% pullback from its February highs.
The pullback could be a concern for investors, but the company's better-than-expected Q2 results could provide some stability.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Blackstone Inc. was picked as a final trade, despite reporting lower-than-expected Q2 revenues.
The lower-than-expected Q2 revenues could negatively impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70