Blackstone Surges on Impressive Earnings and Higher Dividend
22 minutes ago
Blackstone (BX) shares experienced a significant rise on Thursday following the investment management firm’s announcement of better-than-expected earnings and an increased dividend, driven by a surge in fees and assets under management (AUM).
The leading alternative asset manager declared second-quarter distributable earnings per share at $1.21, while revenue soared by 32.7% to reach $3.71 billion, surpassing analysts’ predictions.
Fee-related performance revenues surged by 167% to $472.1 million. Additionally, private equity fee-related earnings rose by 87% to $519.4 million, with real estate fee-related earnings up 13% to $543.6 million.
AUM increased by 12.5% to $1.21 trillion, which CEO Stephen Schwarzman described as “a new industry record.” He attributed the strong performance to the firm’s expanding business and earning capabilities, especially in private wealth and infrastructure sectors.
The company also announced a quarterly dividend boost of $0.10 to $1.03, scheduled for payment on August 11 to shareholders on record as of August 4.
On Thursday, Blackstone shares rose by 3.6%, marking their highest closing price since January and leading to overall positive momentum for 2025.
UnitedHealth Shares Decline Amid DOJ Investigation Confirmation
1 hr 15 min ago
UnitedHealth Group (UNH) confirmed Thursday that the Department of Justice is investigating various aspects of its operations, following several recent media reports.
The insurer indicated that it proactively contacted the DOJ after reviewing media coverage regarding investigations related to its involvement in the Medicare program, now complying with formal criminal and civil requests from the Department.
UnitedHealth’s stock has faced significant pressure this year due to reports of investigations concerning its Medicare Advantage program, with the company denying any allegations of pressuring doctors for specific billing practices.
The stock also dropped earlier this year due to disappointing quarterly results and a lowered profit forecast, compounded by the recent departure of its CEO in May. UnitedHealth is set to release its earnings report before market open on Tuesday.
On Thursday, the stock closed nearly 5% lower, marking a notable 45% decline since the start of the year.
ServiceNow Shares Rise on Positive Performance Amid AI Growth
2 hr 12 min ago
Shares of ServiceNow (NOW) jumped on Thursday after the company reported results exceeding expectations and raised its guidance amid increasing demand for its AI-focused business platform.
The software firm announced second-quarter earnings per share of $4.09, surpassing analysts’ estimates by $0.52. Revenue grew by 22.5% year-over-year to $3.22 billion, which also beat forecasts.
Subscription revenue matched the overall growth at 22.5%, reaching $3.11 billion, while the number of customers generating over $20 million in annual recurring revenue increased by 30%.
CEO Bill McDermott stated that the results highlight the growing significance of ServiceNow’s AI Platform, noting, “Every business process in every industry is being refactored for agentic AI.”
The company revised its full-year subscription revenue outlook upwards to between $12.775 billion and $12.795 billion, raising prospects for investors.
Chipotle’s Stock Declines on Less Favorable Sales Projections
2 hr 41 min ago
Chipotle (CMG) shares dropped about 14%, resulting in a roughly 25% year-to-date decline as investors reacted negatively to the company’s diminished sales outlook for the year.
Originally anticipating double-digit growth in same-store sales, executives now project those figures to flatten out instead.
However, CEO Scott Boatwright assured stakeholders that he is optimistic about returning to mid-single-digit comparable sales and exceeding $4 million in average unit volumes in the long term.
Despite the recent stock dip, Wall Street’s support remains strong. Bank of America maintained its “buy” rating, with a target price of $64 after the latest results.
Expectations for Intel’s Earnings and Projected Stock Movement
2 hr 56 min ago
Intel (INTC) is set to announce earnings after the market closes today, with traders expecting a substantial stock movement from the beleaguered chipmaker.
Options pricing suggests a possible move of over 7% for Intel’s stock by the end of Friday. Historically, shares have recorded an average change of 11% following earnings reports, with three of the last four instances showing declines.
Analysts project a year-over-year decline in both revenue and profit, focusing on how new CEO Lip-Bu Tan will manage the struggling foundry division.
Intel shares have shown a 14% gain this year, but still reflect a loss of over 25% compared to the previous year.
