How Blackstone celebrated S&P 500 inclusion
Blackstone shares have advanced 54% this year, besting the S&P 500's 15% rise
Uber could be added to the S&P 500 in next 12 months: Mark Mahaney
Evercore ISI senior managing director Mark Mahaney explains his Chewy downgrade and why investors should be adding Uber to their portfolios on 'Varney & Co.'
Blackstone is celebrating being added to S&P 500, which is a big feat for U.S. companies.
"Inclusion in the S&P is another important milestone for Blackstone, coming on the heels of crossing $1 trillion in assets under management," Blackstone said in a statement to FOX Business. "We are gratified to be joining the S&P 500 and pleased that this will make our stock even easier for shareholders to access."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BX | BLACKSTONE INC. | 187.05 | -4.04 | -2.11% |
UAW VOWS TO STRIKE AT MORE US AUTO PLANTS IF PROGRESS NOT MADE BY FRIDAY
The firm's celebration, which included CEO Steve Schwarzman, was posted on social media.
"It's a great thing for the firm. I think it's a mark that we've been in business for 38 years. It says Blackstone is now a grown up," Schwarzman said on Instagram, while the company called it an "important milestone" on X, formerly Twitter.
"Blackstone’s inclusion in the S&P 500 highlights the ongoing shift in the financing markets, where private lenders and debt fund managers are steadily gaining more market share compared to traditional banks" Ran Eliasaf, founder and managing Partner at Northwind Group, told FOX Business.
Blackstone CEO Stephen Schwarzman as he visits "Maria Bartiromo's Wall Street" at Fox Business Network Studios on Sept. 18, 2019, in New York City. (Roy Rochlin/Getty Images)
"With assets under management reaching $1 trillion and a market capitalization of approximately $140 billion, their presence in the S&P 500 demonstrates alternative asset managers ability to deliver strong returns and highlights the sector’s growing importance in shaping the financial industry's future."
YIELD CURVE PIONEER WARNS FED NOT TO RAISE RATES, PREDICTS POSSIBLE RECESSION IN 2024
The stock has gained 54% year-to-date, but the move to the global benchmark is expected to boost Blackstone’s share recognition and accessibility to investors.
Blackstone
Blackstone and Airbnb replaced Lincoln National and Newell Brands in the 500. Meanwhile, both Lincoln and Newell will now list under the S&P SmallCap 600.
Signage is seen outside The Blackstone Group headquarters in New York City Nov. 12, 2021. (REUTERS/Andrew Kelly / Reuters Photos)
OIL SPIKES ABOVE $91 ON SUPPLY CONCERNS
As part of S&P Global’ s other rebalances, S&P 500 constituent Deere & Co. replaced Walgreens Boots Alliance in the S&P 100, with Walgreens no longer representing the mega-cap market space.
Walgreens Boots Alliance will remain in the S&P 500.
