Blackstone (BX) will open at a 52-week high after posting strong results the day before. The investment firm reported strong Q3 revenue growth and earnings.
Blackstone posted earnings of $1.02 a share. Revenue grew by 57.8% Y/Y to $3.66 billion. It attracted more assets under management, at $1,107.6 billion. Looking ahead, expect future fee income growth. In addition, asset dispositions while the market sentiment rises will increase the value of BX stock.
On Thursday, The Travelers Companies (TRV) jumped by 9% after posting Q3 earnings. It earned $5.24 a share, more than double last year’s levels. CEO Alan Schnitzer said that net earned premiums grew by 10% to a record $10.7 billion.
Shareholders are relieved that catastrophe losses eased to $939 million. Losses were due mainly to Hurricane Helene and severe wind and hail storms.
After Centene (CNC) stock fell by 9.09%, watch for the stock to eventually bottom. Elevance Health’s (ELV) profit warning hurt CNC stock. Investors who want diversification away from the medicare market may consider CVS Health (CVS). CVS has exposure to the drugstore market. Its competitor, Walgreens Boots (WBA) announced in its Q3 report that it would close 1,200 stores in the U.S.
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