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The Blackstone Group L.P. Message Board

sam_0534 264 posts  |  Last Activity: Dec 19, 2014 1:19 PM Member since: Feb 8, 1998
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  • Blackstone Shrugs Off Market Volatility; Profit Rises 46% -- 4th Update
    DOW JONES & COMPANY, INC. 10:29 AM ET 10/16/2014
    Symbol Last Price Change
    BX 28.87up -0.19 (-0.65%)
    QUOTES AS OF 01:43:07 PM ET 10/16/2014

    Blackstone Group LP (BX) shrugged off the past week's market volatility, signaling a continued ability to sell off investments and put billions of dollars of additional money to work.

    "We aren't dependent on public markets," said Blackstone President Hamilton "Tony" James on Thursday, emphasizing the long-term nature of the private-equity firm's investing businesses.

    Mr. James said the recent stock-market selloff wouldn't hinder the private-equity firm's plans to take companies it owns public or sell shares it holds. If prices keep falling, it could make public companies more attractive takeover targets, Mr. James added, noting that private-equity firms have been reluctant to buy those corporations during the market run over the past couple of years.

    "We can and will move quickly to respond to market dislocation," said Blackstone Chief Executive Stephen Schwarzman, noting the firm has $42 billion to invest. "These market environments end up becoming some of our best vintages."

    Blackstone on Thursday missed Wall Street expectations for one industry-preferred measure of earnings amid a somewhat slower selling pace for its investment holdings. The New York company said third-quarter profit rose 46% to $ 251 million, or 41 cents a share, up from $171 million, or 29 cents a share, in the same period last year.

    Blackstone said third-quarter economic net income was $758 million, or 66 cents a share, up from $640 million, or 56 cents a share, a year earlier. Blackstone said that measure, which private-equity firms prefer because it includes unrealized gains as well as cash earnings, set a third-quarter record, though it fell short of Wall Street expectations. Analysts polled by Thomson Reuters predicted 72 cents a share.

    The firm's private-equity portfolio appreciated 3.7%, below analysts' expectations in part because of recent market volatility. Blackstone's private-equity business posted $125 million of realized carried interest, or the cash profits the firm takes after investors get their cut, down sharply from $212 million in the second quarter.

    Still, Blackstone's "core trends seem intact," wrote Luke Montgomery, a Sanford C. Bernstein & Co. analyst, in a note. He pointed to solid investment proceeds and Blackstone's record assets under management of $284 billion. "We continue to see several signs of positive momentum in the results...even if the firm did not repeat the outstanding [ second-quarter] result."

    Blackstone's shares, which have suffered declines alongside other private-equity firms during a broader market selloff, were trading down Thursday afternoon.

    Blackstone's earnings were driven in part by sales of shares in companies it owns in its private-equity and real- estate funds. The buyout firm said during the third quarter it sold shares in Pinnacle Foods Inc., Kosmos Energy Ltd. and Brixmor Property Group Inc. Blackstone's real-estate business generated $4.4 billion in proceeds during the quarter.

    The hot mergers-and-acquisitions market could help the firm fetch higher prices for companies it owns in direct sales as opposed to public offerings, Blackstone executives said.

    "We're not hostages of the stock market," Mr. Schwarzman said. "We have a lot of mechanisms for realizing investments. We are never forced sellers unlike almost all other market operators."

    The firm's share of deal proceeds, or performance fees, during the quarter was $890 million, up about 64% from the same period a year ago.

    The firm's distributable earnings, the portion of profits in which shareholders can get a piece, were $672 million in the third quarter, more than twice the year-earlier $313 million.

    Blackstone said it would pay a dividend of 44 cents for the quarter, nearly double the 23 cents it paid a year earlier.

    Sentiment: Strong Buy

  • Blackstone Shrugs Off Market Volatility; Profit Rises 46% -- 4th Update
    DOW JONES & COMPANY, INC. 10:29 AM ET 10/16/2014
    Symbol Last Price Change
    BX 28.87up -0.19 (-0.65%)
    QUOTES AS OF 01:43:07 PM ET 10/16/2014

    Blackstone Group LP (BX) shrugged off the past week's market volatility, signaling a continued ability to sell off investments and put billions of dollars of additional money to work.

    "We aren't dependent on public markets," said Blackstone President Hamilton "Tony" James on Thursday, emphasizing the long-term nature of the private-equity firm's investing businesses.

    Mr. James said the recent stock-market selloff wouldn't hinder the private-equity firm's plans to take companies it owns public or sell shares it holds. If prices keep falling, it could make public companies more attractive takeover targets, Mr. James added, noting that private-equity firms have been reluctant to buy those corporations during the market run over the past couple of years.

    "We can and will move quickly to respond to market dislocation," said Blackstone Chief Executive Stephen Schwarzman, noting the firm has $42 billion to invest. "These market environments end up becoming some of our best vintages."

    Blackstone on Thursday missed Wall Street expectations for one industry-preferred measure of earnings amid a somewhat slower selling pace for its investment holdings. The New York company said third-quarter profit rose 46% to $ 251 million, or 41 cents a share, up from $171 million, or 29 cents a share, in the same period last year.

    Blackstone said third-quarter economic net income was $758 million, or 66 cents a share, up from $640 million, or 56 cents a share, a year earlier. Blackstone said that measure, which private-equity firms prefer because it includes unrealized gains as well as cash earnings, set a third-quarter record, though it fell short of Wall Street expectations. Analysts polled by Thomson Reuters predicted 72 cents a share.

    The firm's private-equity portfolio appreciated 3.7%, below analysts' expectations in part because of recent market volatility. Blackstone's private-equity business posted $125 million of realized carried interest, or the cash profits the firm takes after investors get their cut, down sharply from $212 million in the second quarter.

    Still, Blackstone's "core trends seem intact," wrote Luke Montgomery, a Sanford C. Bernstein & Co. analyst, in a note. He pointed to solid investment proceeds and Blackstone's record assets under management of $284 billion. "We continue to see several signs of positive momentum in the results...even if the firm did not repeat the outstanding [ second-quarter] result."

    Blackstone's shares, which have suffered declines alongside other private-equity firms during a broader market selloff, were trading down Thursday afternoon.

    Blackstone's earnings were driven in part by sales of shares in companies it owns in its private-equity and real- estate funds. The buyout firm said during the third quarter it sold shares in Pinnacle Foods Inc., Kosmos Energy Ltd. and Brixmor Property Group Inc. Blackstone's real-estate business generated $4.4 billion in proceeds during the quarter.

    The hot mergers-and-acquisitions market could help the firm fetch higher prices for companies it owns in direct sales as opposed to public offerings, Blackstone executives said.

    "We're not hostages of the stock market," Mr. Schwarzman said. "We have a lot of mechanisms for realizing investments. We are never forced sellers unlike almost all other market operators."

    The firm's share of deal proceeds, or performance fees, during the quarter was $890 million, up about 64% from the same period a year ago.

    The firm's distributable earnings, the portion of profits in which shareholders can get a piece, were $672 million in the third quarter, more than twice the year-earlier $313 million.

    Blackstone said it would pay a dividend of 44 cents for the quarter, nearly double the 23 cents it paid a year earlier.

    Sentiment: Buy

  • Reply to

    BX conference call was excellent..

    by sam_0534 Oct 16, 2014 12:25 PM
    sam_0534 sam_0534 Oct 16, 2014 12:45 PM Flag

    positive comments on spin off..nothing new from what said before. great opportunity for BX...they are the smartest guys... really impressed as usual with management.. no complaints here..

    Sentiment: Strong Buy

  • Blackstone Group Profit Rises 46% -- 3rd Update
    DOW JONES & COMPANY, INC. 9:29 AM ET 10/16/2014
    Symbol Last Price Change
    BX 28.5 -0.56 (-1.93%)
    QUOTES AS OF 12:38:45 PM ET 10/16/2014

    Blackstone Group LP (BX) said third-quarter profit rose 46%, as the private-equity firm reaped gains selling shares of companies it owns.

    The New York company on Thursday reported third-quarter profit of $251 million, or 41 cents a share, up from $171 million, or 29 cents a share, in the same period last year.

    Blackstone's third-quarter economic net income was $758 million, or 66 cents a share, up from $640 million, or 56 cents a share, during the same time period a year earlier. Blackstone said that measure, which private-equity firms prefer because it includes unrealized gains as well as cash earnings, set a third-quarter record, though it fell short of Wall Street expectations. Analysts polled by Thomson Reuters predicted 81 cents a share initially before the estimate settled lower at 72 cents a share.

    The firm's private-equity portfolio appreciated 3.7%, below analyst expectations in part because of recent market volatility. Blackstone's private-equity businesses posted $125 million of realized carried interest, or the cash profits the firm takes after investors get their cut, down sharply from $212 million in the second quarter.

    Blackstone shares, which have suffered declines alongside other private-equity firms during a broader market selloff, were trading down about 3% midday Thursday at $28.12.

    Blackstone's earnings were driven in part by sales of shares in companies it owns in its private equity and real- estate funds. The buyout firm said during the third quarter it sold shares in Pinnacle Foods Inc., Kosmos Energy Ltd. and Brixmor Property Group Inc. Blackstone's real-estate business generated $4.4 billion in proceeds during the quarter.

    The firm's share of deal proceeds, or performance fees, during the quarter was $891 million, up about 64% from the same period a year ago.

    Blackstone President Hamilton "Tony" James said the recent stock-market selloff wouldn't hinder the firm's plans to take companies it owns public or sell off shares it holds. If prices keep falling, it could make public companies more attractive takeover targets, Mr. James added, noting that private-equity firms have been reluctant to buy those corporations during the market run over the past couple of years.

    "We can and will move quickly to respond to market dislocation," said Blackstone Chief Executive Stephen Schwarzman. "These market environments end up becoming some of our best vintages."

    Blackstone has some $42 billion in capital available for investment, Mr. Schwarzman said.

    Blackstone, the world's largest private-equity firm, reported assets under management of $284 billion, up from $248 billion a year ago.

    The firm's distributable earnings, the portion of profits in which shareholders can get a piece, were $672 million in the third quarter, more than twice the $313 million a year earlier.

    Blackstone said it would pay a dividend of 44 cents for the quarter, nearly double the 23 cents it paid during the year-earlier time period.

    Sentiment: Buy

  • I am always impressed with managment and the performance of the company...just too much negativity and speculators in the group NOW .. there is no need for me to sell or change my positive opinion on BX...

    Sentiment: Strong Buy

  • Reply to

    Buying time nears, but panic rules today

    by billlewisiv Oct 16, 2014 9:27 AM
    sam_0534 sam_0534 Oct 16, 2014 10:24 AM Flag

    Distributable earnings, which show actual cash that is available to pay dividends, rose 115 percent in the third quarter to $672 million.

    Assets under management were $284 billion at the end of September, up from $279 billion at the end of June.

    Blackstone declared a quarterly distribution of 44 cents per common unit.

    Sentiment: Buy

  • allinckrodt

    Mallinckrodt’s purchase of Cadence Pharmaceuticals earlier this year is expected to remain accretive, although the firm was put through the wringer for what some thought was overpaying. Now, as the company finishes up its most recent merger and acquisition with Questcor Pharmaceuticals, it will once again be digesting yet another large acquisition. During the company’s recent analyst day, it gave guidance for 2015 that was ahead of current Wall Street expectations. It also indicated that continued mergers and acquisitions remain a part of the corporate strategy.

    The Jefferies target price is $110, and the consensus target is $100.08. The stock closed Wednesday at $84.33, down almost 3%. Trading to the Jefferies target would be a 33% gain for investors.

    Sentiment: Strong Buy

  • Reply to

    take a gues on earnings

    by mj525252 Oct 15, 2014 4:11 PM
    sam_0534 sam_0534 Oct 15, 2014 8:24 PM Flag

    I think Zack said .85 and others around .80 have no idea...

  • sam_0534 by sam_0534 Oct 15, 2014 11:43 AM Flag

    Private Equity Earnings Come Amid Market Selloff -- Market Talk
    DOW JONES & COMPANY, INC. 8:39 AM ET 10/15/2014
    11:39 EDT - Private equity's ability to resist stock-price declines will be put to test this week as Blackstone (BX) kicks off earnings season Thursday amid broad market turmoil. Private-equity executives often stress they don't pay attention to their stock price given long-term aspect of their investment business. But shareholders look for investment profits and fees to drive earnings and boost stock. Analysts predict BX will report 3Q EPS of 81 cents on revenue of about $1.6B. Private-equity investment sales are on a big tear over past two years so buyout shops face tough year-on- year comparisons, though more sales remain in pipeline. BX off 3.3% at $28.47.

    Sentiment: Buy

  • Reply to

    conference call

    by bullrunbullrun Oct 14, 2014 9:47 AM
    sam_0534 sam_0534 Oct 14, 2014 12:00 PM Flag

    overall view of CC? thanks..

  • Reply to

    Yet one more bad joke played on BX longs today...

    by billlewisiv Oct 14, 2014 10:02 AM
    sam_0534 sam_0534 Oct 14, 2014 10:20 AM Flag

    life is not easy :)...PE firms out of favor..but I will see how the earnings report is hsi Thursday....HLT and SEAS got weak..Chilton sold a position in Kohlberg Kravis Roberts & Co. L.P. (KKR) that accounted for 0.88% of the fund’s 1Q U.S. long portfolio.

    Sentiment: Hold

  • Reply to

    Great news this morning

    by biotrend Oct 14, 2014 9:16 AM
    sam_0534 sam_0534 Oct 14, 2014 9:21 AM Flag

    what is FX??

  • thanks..

  • Reply to

    Negative Divergence

    by didoo36 Oct 13, 2014 12:06 PM
    sam_0534 sam_0534 Oct 13, 2014 12:23 PM Flag

    Hedge funds got clobbered.. BX thrown in with them.. Ackerman 's Dutch IPO was down.... earnings will tell the story...

    Sentiment: Buy

  • "BlackStone: Even Better Value After Spinoff" by Teresa Rivas. Now that The Blackstone Group L.P. (NYSE: BX) has announced its intention to spin off its financial advisory business into a new publicly traded company, Barron's takes a look at whether this will be good for shareholders.

  • NEW YORK (TheStreet) -- Kosmos Energy (KOS) stock is down 4.54% to $9.48 after the energy company announced that funds affiliated with The Blackstone Group L.P. (BX) and Warburg Pincus LLC have agreed to sell an aggregate of 15 million of Kosmos's common shares in a registered underwritten public offering late Monday.

    Kosmos will not receive any of the proceeds from the sale of the common shares

    Citigroup (C) is acting as the underwriter of the offering.

    Must Read: Warren Buffett's 25 Favorite Stocks

    STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

    Separately, TheStreet Ratings team rates KOSMOS ENERGY LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their

  • sam_0534 by sam_0534 Oct 10, 2014 12:14 PM Flag

    Turning to Blackstone (BX) , the company announced that it will spin off its financial advisery business, which brings in roughly $380 million in annual revenue.

    "Why isn't the stock up?" Cramer asked. This is good news, the company is very well run, and it has a huge dividend yield of 7%.

    People are going to wish they bought some of these beaten down stocks on this market pullback, he concluded.

    Sentiment: Strong Buy

  • NEW YORK (TheStreet) -- JMP Securities initiated coverage of Hilton Worldwide Holdings Inc. (HLT) today with a rating of "market outperform" and $30 price target.

    Analysts highlighted that Hilton continues to have a powerful combination of industry-leading brands and iconic hotel assets.

    "At this stage of the lodging cycle, Hilton's powerful combination of industry-leading brands, portfolio of iconic owned hotel assets, and growing global portfolio of managed and franchised hotels is, in our view, optimally positioned to benefit from the current positive fundamentals in the U.S. lodging sector and longer-term trends that should drive an extended period of growth for the global travel sector," JMP analysts Robert LaFleur and Whitney Stevenson wrote.

    Sentiment: Strong Buy

  • NVESTORS' SOAPBOX AM
    Two Drug Firms Fighting Opioid Abuse
    Teva and Intellipharmaceutics are incorporating technology to curb abuse and prevent overdoses.

    Oct. 9, 2014 11:12 a.m. ET
    Maxim Group

    Teva Pharmaceutical Industries announced they have initiated a rolling New Drug Application submission for CEP-33237 (hydrocodone bitartrate), which is expected to be completed by year-end 2014.

    Teva’s (ticker: TEVA) (rated at Buy) CEP-33237, an investigational, 12-hour, acetaminophen-free, extended release hydrocodone will be the first approved pain killer with advanced abuse deterrent technology (ADT). The drug...

  • sam_0534 sam_0534 Oct 9, 2014 2:29 PM Flag

    maybe they dodnt have your phone number !!!! parttime investors here it looks like...

    Sentiment: Strong Buy

BX
34.34+0.03(+0.09%)Dec 19 4:04 PMEST

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