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. (NYSE: 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 (NYSE: 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 (NYSE: 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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