Name: Chart of the Day: Alphabet
Uploaded: 2026-01-09T18:25:24+00:00
Duration: 591 s

Speakers

Jim Lebenthal — Partner, Cetera Investment Management

Steve Weiss — Chief Investment Officer, Short Hills Capital Partners

Scott Wapner — Host, CNBC

Summary

On CNBC's Halftime Report, Jim Lebenthal explains why he trimmed Citigroup and Alphabet, citing valuation and risk management, while still holding a large Citigroup position. Steve Weiss adds a bullish Citigroup recruiting point and says he is considering buying more Alphabet. The panel also discusses Wynn as a buyback candidate, Oracle as a possible beaten-down pick, and banks heading into earnings with the KBE ETF at a record high.

Jim Lebenthal trimmed Citigroup from 6% to 4% of client portfolios, calling it fairly valued but still a large holding.
Lebenthal trimmed Alphabet to take risk off after a huge run, even though he acknowledges it could go higher.
Steve Weiss says Citigroup's improved stock performance should help attract top talent.
Steve Weiss is considering buying more Alphabet and believes it is still going higher.
Lebenthal says Oracle could be a beaten-down comeback candidate but he is not adding yet.
Lebenthal would like to buy back Wynn shares after trimming at 126.
The panel notes bank earnings next week and the KBE ETF at a record high.

Ideas

Jim Lebenthal Partner, Cetera Investment Management 0:51

Citi fairly valued; trim but remain long.

Jim Lebenthal has trimmed Citigroup from 6% to 4% of client portfolios because the stock is no longer cheap—trading at about 12x forward earnings and roughly 1.2-1.25x tangible book value versus a deep discount two years ago—but he remains long a large position. He credits Jane Fraser's team with doing the cost cutting and says the next leg requires growth in investment banking and wealth management, with the Banamex IPO this quarter as a catalyst.

Steve Weiss Chief Investment Officer, Short Hills Capital Partners 2:00

Citi can attract top talent now.

Steve Weiss adds that Citigroup's improving stock price and a management team investors can have faith in make it much easier to attract top-flight employees; this recruiting advantage should add to the turnaround story.

Jim Lebenthal Partner, Cetera Investment Management 4:13

Trim Alphabet to take risk off.

Jim Lebenthal trimmed Alphabet to take a little risk off the table after its huge comeback, even while acknowledging the stock could keep running to $400-$450. He frames the move as avoiding an emotional round trip in a giant winner and wants to look for other beaten-down stocks as the rally broadens.

Jim Lebenthal Partner, Cetera Investment Management 4:42

Wynn buyback candidate after pullback.

Jim Lebenthal trimmed Wynn at 126 and it is now around 118; he says Wynn is a core position and he would love to buy back the slug he sold, though he worries about the remaining position if it falls below 110.

Jim Lebenthal Partner, Cetera Investment Management 7:14

Oracle could be beaten-down comeback candidate.

Jim Lebenthal says Oracle could be one of the beaten-down stocks he might pick, similar to how Alphabet looked in May, but he is not adding to Oracle yet and calls it only a possibility.

Steve Weiss Chief Investment Officer, Short Hills Capital Partners 7:31

Buy more Alphabet; still going higher.

Steve Weiss says he has been debating whether to buy more Alphabet because he believes it is still going higher. He previously sold some, kept a vestige and added, and is leaning toward adding more.

Chart of the Day: Alphabet

Summary

Ideas

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