Blackstone posts
Posted May 9th 2009 12:40PM by Trey Thoelcke
Filed under: Earnings reports, Cisco Systems (CSCO), Sirius Satellite Radio (SIRI), Hansen Natural (HANS), Walt Disney (DIS), American Express (AXP), News Corp'B' (NWS), Alcatel-LucentADS (ALU), Tyson Foods'A' (TSN), Symantec Corp (SYMC), Las Vegas Sands (LVS), Vonage Holdings (VG), Blackstone Group L.P (BX), Garmin Ltd (GRMN), Marvel Entertainment (MVL)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Disney, Cisco, News Corp., Marvel, Sirius, Blackstone and more
Posted May 7th 2009 2:00PM by Tom Taulli
Filed under: Private equity, Blackstone Group L.P (BX)
When the Blackstone Group (NYSE: BX) reported its Q4 results, the company's CEO, Stephen Schwarzman, said that the stock price was "dimwitted." Well, since then, the stock price has surged from $4.87 to $13.44
What happened? Perhaps it's the fact that the financial system has stabilized.
But, if you take a look at the Q1 results (announced yesterday) for Blackstone, things still look ugly. In fact, on the conference call, President Tony James gave a particularly negative view on the economy. For the most part, it looks like it will take a long while to get things back on track.
Continue reading Blackstone's stock is 'dimwitted' no more
Posted Mar 19th 2009 5:00PM by Tom Taulli
Filed under: Private equity
Over the past few weeks, we've seen some of the extensive damage done to the mega private equity operators, such as the Blackstone Group LLP (NYSE: BX) and KKR.
Now, according to a report from Reuters, we've got the details on the performance of TPG. And, of course, it's ugly (interestingly enough, TPG's roots are in the distressed investing category).
Continue reading TPG gets crushed
Posted Jan 31st 2009 12:10PM by Zac Bissonnette
Filed under: Newspapers, Blackstone Group L.P (BX)
Oh how the mighty have fallen.
Not so long ago The Blackstone Group (NYSE: BX) was making headlines for founder Steve Schwarzman's 60th birthday party that featured a one million dollar performance by Rod Stewart.
Well now that bubble has burst, the stock has tanked and Blackstone is in the newspaper for sharing Financial Times subscriptions among employees to save on the $99 per year subscription fee. The problem is that the Financial Times is suing. According to The Wall Street Journal,"The lawsuit, filed in federal court in Manhattan, says a 'senior' Blackstone employee distributed login information for one account to other employees. That account accessed thousands of individual articles from February 2006 to June 2008. The suit describes the use as 'massive' and 'far more than an individual would normally access.'"
Highly unbecoming of the Masters of the Universe, if you ask me.
Posted Jan 24th 2009 4:10PM by Tom Taulli
Filed under: India, Private equity, Blackstone Group L.P (BX)
When the financial shenanigans were uncovered by Satyam's (NYSE: SAY) CEO, B. Ramalinga Raju, he gave a memorable quote: "It was like riding a tiger, not knowing how to get off without being eaten."
And, yes, it's also been pretty rough for many investors in India. Just look at the Blackstone Group LLP (NYSE: BX). In fact, according to Reuters, it looks like the experience has been a nightmare.
Over the past three years, Blackstone has invested about $730 million in India. Unfortunately, much of this was done at the peak of the market. Bear in mind that some of Blackstone's investments have lost 70%+ of their value.
True, India still holds lots of promise. To support its massive population, it's critical that the country find ways to grow and build its infrastructure. And, this means that there must be foreign investment.
Thus, India should rethink its investment regulations and try to loosen things up. If not, the recent losses could scare away investors for some time, ultimately crimping the long-term growth rate.
Tom Taulli is the author of various books, including The Complete M&A Handbook
and The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market
. He is also the founder of BizEquity, a valuation website.
Posted Jan 14th 2009 9:43AM by Tom Taulli
Filed under: Deals, Private equity, Blackstone Group L.P (BX)
A few years ago, hedge funds saw tremendous opportunity in Asia. But, of course, the industry is now in a funk. In some cases, hedge funds are just trying to survive.
One of the major hedge funds that moved into Asia is GSO Capital Partners LP. The fund, which is an affiliate of the Blackstone Group (NYSE: BX), has about $25 billion in assets.
This week GSO is apparently pulling the plug on its Asia investment desk after only about five months in operation. Simply put, there aren't many bargains in the market.
Keep in mind that GSO focuses on distressed investments, and for the most part, Asia has fared relatively well.
Instead, the wreckage is mostly in the U.S. and Europe.
In a way, this is a negative thing, but there is a silver lining: the "smart money" sees good deals in the US. Ultimately, with more money coming into these investments, it could spark the beginnings of a comeback, especially in the debt markets.
Tom Taulli is the author of various books, including The Complete M&A Handbook
and The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market
. He is also the founder of BizEquity, a valuation website.
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