TheStreet's Jim Cramer likes Blackstone Group (BX - Get Report) ahead of its earnings report, saying the markets are thawing so you want own stocks like Blackstone and Goldman Sachs (GS - Get Report) . Cramer is portfolio manager of Action Alerts PLUS.
House prices at a high and BX bought at low prices.
Why Brixmor Property Group Inc. Stock Plummeted Today
Three top officers step down immediately as the company's audit committee finds problems in its financial reporting.
What: Shares of Brixmor Property Group (NYSE:BRX) are plummeting, down nearly 20% at 11:30 a.m. ET.
Three top insiders -- its chief executive officer, chief financial officer, and chief accounting officer -- stepped down as the company revealed its financial statements had been manipulated.
So what: Brixmor's audit committee engaged outside counsel and an independent forensic accounting firm to review the company's historical financial results. It concluded that personnel were directly involved or supervised others who were "involved in smoothing income items between reporting periods."
Brixmor was taken public in 2013 by Blackstone Group (NYSE:BX), which remains its largest shareholder. All three executives who stepped down today have served in their respective roles since Brixmor's IPO. Blackstone held nearly 122 million shares as of September 30, 2015.
Now what: Brixmor does not expect that it will need to restate its financial results as the impact of the accounting issues were immaterial to its performance. Furthermore, it believes that it will not "impact the Company's compliance with the financial covenants in its debt agreements."
Wall Street, however, is perfectly content to sell now and ask questions later. When a company's accounting comes into question, many investors prefer to simply walk away. That's exactly what's happening today, as shares are plunging on higher volume.
The reason I added today is the technical chart looks so positive to me.. Stocastics giving a buy signal in Deep oversold territory....RS is above 50, nice bottoming pattern.. Bollinger bands good.. so will see :)
Sentiment: Strong Buy
Yes, I see everything :)BX and Bain both held over 30% of MIK..didnt say how much and who was selling.. I post things here but some dont show up...
Blackstone (BX) continually attracted a large amount of capital backed by the strong operating performances of its various funds. The company continued to attract new capital across its product offerings.
The company’s total dry powder, or undrawn capital, rose by 73% to a record $79.7 billion compared to the same quarter last year. This increase in undrawn capital was driven by fundraising for the latest global private equity and real estate funds. Blackstone made significant realizations in the real estate and private equity segments......Blackstone (BX) reported a 58% fall in the real estate division’s total revenue to $361 million, compared to $865 million in the same quarter last year. The division’s opportunistic funds’ carrying value rose by 1.6% during the quarter. The operating fundamentals offset the fall in public investment values. Its Core+ funds’ carrying value rose by 4.5% during the quarter. For the full year, opportunistic and Core+ funds rose by 9.7% and 19.1%, respectively. The division’s assets under management expanded by 16% to $94 billion compared to 4Q1
Sentiment: Strong Buy
It seems unlikely that Buffett is looking to create any super-structure here, with a Phillips 66 deal with Kinder Morgan. It may not be that likely that he would try to complicate what is already complicated around tax time (already nearly 18,000 pages tax filing or so from 2012). Still, Buffett is no stranger to being opportunistic. He also wants to buy quality — and Kinder Morgan is top-notch in infrastructure.
Buffett’s actual Kinder Morgan stake was a new position and was listed as 26.533 million shares, as of December 31, 2015. The market value of that investment at the time was a mere $392 million. Even if this move was a bet made by one of Buffett’s new portfolio managers rather than Buffett himself, it seems very possible that the stake would be increased rather than traded — even after seeing that Kinder Morgan shares jumped 10% to $17.20 after the news of the Buffett stake.
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The reality is that a stake of close to $400 million just will not move the needle very much for Berkshire Hathaway. It is barely a 1% stake, while Buffett is now a more than 10% holder in Phillips 66. The value of Berkshire Hathaway’s public U.S.-listed common stocks was put at a whopping $131.855 billion at the end of 2015, and Berkshire Hathaway now has a $318 billion market cap.
The recent upgrade of Kinder Morgan by Credit Suisse is now looking much smarter, but it is also hard to forget the key thesis the firm stated at the time: “Hard to see much downside from here, no matter what happens in energy markets.”
IPCI was in a blackout period since Nov 30 year end time...so no ATM sold... They are now out after releasing annual report...still doing studies on Rexista..such as labeling claims etc..Long term investor here..a lot of potential good news for IPCI
Own both BXMT and BX... Funny that BXMT often follows the trading of BX...Should be very little correlation in my opinion..but that is the market
Dont support their proposals... they are crooks..fire them all...
somewhat disappointing..but not selling.. That 6.5 Billion deal not closing till later this year.. a big key to see if that happens..Distributable earnings, which reflect cash gains on asset sales, were $388 million, down from $1.24 billion a year earlier. Blackstone said it will pay stockholders a dividend of 28 cents a share on May 9.
“The market may be expecting HNA needs to raise the bid to something more expensive,” Mark Jolley, equity strategist at CCB International Securities, said by phone.
Under the terms, Blackstone would receive 58 percent more than the HK$2.86 a share it paid to buy the Tysan stake in a deal completed in 2014, according to data compiled by Bloomberg.