Blackstone’s (BX) earnings tripled and the stock is up almost 10% in the pre-market. Net income hit $774 million up from $224 million a year ago.
The earnings were more than a normal quarterly report. The figures are a vindication for the firm that went public earlier this year and watched its shares drop from $38 to $22.76, humiliating CEO Steve Schwartzman and his staff.
The crisis in LBO and private equity debt has taken its toll on the ability of firms like Blackstone to syndicate the huge pools of debt that they take on with deals.
In the light of the summer’s financial markets problems, the real numbers to watch will be BX Q3.
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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