Blackstone Group LP (BX)

BX (NYSE:Financial Services) EQUITY
$24.44
neg -2.00
-7.70%
Today's Range: 23.71 - 25.74 | BX Avg Daily Volume: 5,854,800
Last Update: 02/08/16 - 3:59 PM EST
Volume: 10,837,986
YTD Performance: -9.47%
Open: $25.64
Previous Close: $26.47
52 Week Range: $22.31 - $43.66
Oustanding Shares: 1,175,964,146
Market Cap: 30,986,655,247
6-Month Chart
TheStreet Ratings Grade for BX
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
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Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 8 8 7 7
Moderate Buy 3 3 3 3
Hold 2 2 2 1
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 1.50 1.50 1.54 1.41
Latest Dividend: 0.61
Latest Dividend Yield: 10.36%
Dividend Ex-Date: 02/04/16
Price Earnings Ratio: 15.59
Price Earnings Comparisons:
BX Sector Avg. S&P 500
15.59 15.50 30.32
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-21.03% -27.04% 39.76%
GROWTH 12 Mo 3 Yr CAGR
Revenue 11.80 1.26 0.31
Net Income 27.70 -14.77 0.00
EPS 30.30 -8.43 0.00
Earnings for BX:
EBITDA 4.11B
Revenue 7.84B
Average Earnings Estimates
Qtr (03/16) Qtr (06/16) FY (12/16) FY (12/17)
Average Estimate $0.22 $0.67 $2.28 $3.02
Number of Analysts 7 6 9 7
High Estimate $0.76 $0.75 $3.02 $3.51
Low Estimate $-0.21 $0.42 $1.17 $2.57
Prior Year $1.37 $0.43 $1.82 $2.28
Growth Rate (Year over Year) -83.94% 55.04% 25.27% 32.46%
Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands

My Current Take on the Market Real Money Pro($)

I remain bearish and net short as we get ready for another trading week to begin.
Alternative energy and private equity are 2 areas worth exploring.
-- Doug's Daily Diary, Nowhere Land? (Part Deux) (Feb. 3, 2016) As I've mentioned over the past few months, emotionless and opportunistic trading remains my mantra -- but that's not for everyone, and remains subject to your own risk profile. The S&P 500's swift, 35-handle drop yesterday morning got investors feeling panicky, but provided better risk-vs.-reward profiles for many stocks. I "called an audible" and bought shares across the board, adding to my longs of Bank of Ame
The market is almost unplayable for most. A crude reversal likely was the catalyst for the turnaround, as quants ran on board the train from the morning lows. As I mentioned this morning, there is little edge or trend right now. If you trade, keep your value at risk (VAR) low because the large swings can produce big profit/loss changes on relatively small positions. Volatility "cubed" in a market dominated by machines and algos that don't look at income statements or balance sheets and have no concept of intrinsic value. It's in Nowhere Land, at least on a short term basis.  But I am of the view that the primary/intermediate trend is lower -- time to trade and be careful with investments. I still look for a low double-digit decline in the S&P 500 in 2016. Ss (S&P) over Ns (Nasdaq) and Rs flat (Russell). I traded actively today with some success, trying to be opportunistic and trying to embrace panic and euphoria. In other words, "Get It While You Can" is my mantra.  I ended the day market-neutral, shorting SPDR S&P 500 ETF (SPY) on a 40-handle move off the lows ($191.35).  My five largest longs and shorts.  The decline in the value of the U.S. dollar was a key feature of the trading day, though I heard little discussion in the business media. Crude oil reversed dramatically, closing up $2.52 a barrel. Nat gas was unchanged. Gold was up another $13.40 per ouce. Still working on a memo on precious metals. Agricultural commodities: wheat up three cents, corn down two cents, soybean nine cents lower  and oats four cents lower. After a lot of intraday movement, bonds were essentially unchanged, with the 10-year and 30-year up by one to three basis points in yield. iShares 20+ Year Treasury Bond (TLT) was down more than a beaner. Municipals were well-bid and closed-end municipal bond funds were up by a few cents apiece. High yield was bid. iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was up 38 cents and SPDR Barclays High Yield Bond ETF (JNK) was up 12 cents. Blackstone/GSO Strategic Credit Fund (BGB) was seven cents to the good. Bank-selling got panicky early in the day, I added across the board. Comerica (CMA), JPMorgan Chase (JPM), Blackstone Group (BX) and Goldman Sachs (GS) ended the day higher after a pressured morning session. I observed that bank-centric sovereign debt funds might be responsible for the almost irrational selling of late. Here's my Chart of the Day on the aforementioned selling by sovereign wealth funds.  Staples responded well to a lower dollar Energy stocks were flat despite the ride in the resource. Biotech looks awful; they were flat on the day with Valeant Pharmaceuticals (VRX) rallying but Allergan (AGN) declining. Old tech didn't participate in the afternoon rally, but IBM (IBM) rose by $1.50. Alibaba (BABA) and Yahoo! (YHOO) were bad. Retail was mixed, with Macy's (M) a leader to the upside and Home Depot (HD) and Lowe's (LOW) downside leaders with large dollar drops today. I bought more GS (it rallied by $4 from today's purchase), Morgan Stanley (MS) (big recovery) and BX (nice reversal). (T)FANG is breaking down and rolling over -- a constant refrain of mine over the last four months. Tesla (TSLA) was down $10, Netflix (NFLX) down $1 and Alphabet (GOOGL) reversed most of its previous-day gain. Amazon (AMZN), which I featured today, continues to get schmeissed -- down $21. It is Bill Miller's largest holding (about 10% weighting). but I disagree, respectfully, with Bill. NOSH was broadly lower, led by Starbucks (SBUX) and O'Reilly Automotive (ORLY). CRABBY looked better, with only Allstate (ALL) and BAC lower. In individual stocks: Procter & Gamble (PG) and DuPont (DD) -- two new Best Ideas List entrants as longs -- were standouts to the upside. Potash (POT) reversed yesterday's loss. Life insurance stocks, including my shorts Lincoln National (LNC) and MetLife (MET0, were standouts to the downside (again). I hope you enjoyed

Adding to My Financial Longs Real Money Pro($)

I'm adding further to my longs of Bank of America (BAC), Blackstone Group (BX), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS) and most of my other financial holdings now.
Goldman Sachs (GS) at $149.25. Morgan Stanley (MS) at $23.59.
I outlined my near- and intermediate-term outlook in parts one and two of this morning's opening salvo. I moved in dramatic fashion from a relatively large net long exposure taken on a week ago Wednesday and Thursday to a small net short exposure at day's end. I got more aggressive after 3 p.m. I scaled into a SPDR S&P 500 ETF (SPY) short all day, from premarket to regular trading session (as high as $194.40) A Stanley Fischer rally? Algos sure like what he said. I view his verbiage as hedged and a non-event. The market, for the second day in a row, defied the weakness in crude oil prices, which were down $2.11 to $31.51 a barrel. Ns (Nasdaq) over Ss (S&P index) and Rs (Russell index). A strange day in light of weaker crude oil and the deteriorating price action in high yield. The U.S. dollar weakened against the euro. Gold up another $12.30 -- its sixth or seventh day in a row higher, I believe (more on gold tomorrow). Agricultural commodities saw wheat down three cents with corn and soybeans flat. Lumber was unchanged. Bonds were up by two to four basis points in yield, depending on maturities. iShares 20+ Year Treasury Bond (TLT) was down about 40 cents. Non taxables were weaker, with iShares National AMT-Free Muni Bond (MUB) down by 0.2%. But muni bond funds were higher. Strange. High yield was junky;  iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was down 42 cents and SPDR Barclays High-Yield Bond ETF (JNK) was down 22 cents. Blackstone/GSO Strategic Credit Fund (BGB) held recent gains Banks were flattish, but they had a monster run on Friday -- up 5%. They were featured on the cover of Barron's. Citigroup (C) is the strongest name. Selected financials were strong. Blackstone Group (BX), despite a Goldman Sachs downgrade, reversed bigtime. Oaktree Capital Group (OAK) was conspicuously strong. Both BX and OAK are on my Best Ideas List.  But brokerages -- such as Goldman Sachs (GS) and Morgan Stanley (MS) -- were hit with profit- taking. Life insurance, too, was death, including Lincoln National (LNC), MetLife (MET) and Hartford Financial Services Group (HIG) Retail showed large gains, led by Wal-Mart (WMT);  I eliminated a trading long rental for a large percentage gain). Macy's (M), Best Buy (BBY) and Bed, Bath and Beyond (BBBY) reversed substantially to the upside. Utilities were up and highlighted in my Diary.   Staples were mixed, despite the weakening U.S. currency. The energy sector suffered under the weight of a large decline in crude oil. Biotech recovered, led by Valeant Pharmaceuticals (VRX), Mallinckrodt (MNK), and my spec fav, Intrexon (XON). Autos had a dead-cat bounce. (T)FANG resumed its strength, though Amazon (AMZN) was down $12. Tesla (TSLA) and Facebook (FB), which hit a new high, were features. NOSH was tasty, fueled by Nike (NKE) and O'Reilly Automotive (ORLY). CRABBY was up small. Last program standing defines the close. Alphabet (GOOGL) tonite -- Boca Biff is short Alphabet, but he is not that good of a speller! I reinitiated a SPY short (
I'm not much of a technician, but the S&P 500 has now broken through the resistance level that three previous attempts failed to breach. (I discussed this further in my opening missive today.)

Blackstone Rocks! Real Money Pro($)

I'm going long on the Blackstone Group (BX) today and putting it on my "Best Long Ideas" list for reasons that I'll highlight shortly in an upcoming thesis in favor of junk bonds.
The chart has been indicating a sell signal for months; $20 is the next area of support. 

Columnist Conversations

I'm not at a major downside target yet in SPX, but I do have timing for a tradable bounce in the next few trad...
What the market bloodbath reinforces: always hold a realistic view of the future (dare I say, conservative).
Kelly Services had been strong this morning in the face of intense broad-based selling overall. The stock buil...

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