(AOF) – Blackstone
Alternative asset manager Blackstone revealed third-quarter results that beat Wall Street’s expectations. It generated net income of $1.56 billion, or $1.02 per share, compared with net income of $920.74 million, or 73 cents, a year earlier. Distributable profit, which serves as a benchmark for analysts, increased 6% to $1.278 billion, or $1.01 per share. The latter beat the Bloomberg consensus amounting to just 91 cents.
Boeing
In an effort to shore up its finances, Boeing is reportedly moving closer to a plan to raise about $15 billion through common stock issuances and a mandatory convertible bond. But the timetable remains uncertain, Reuters reported. Faced with a strike by its employees for a month and financial difficulties, the American aircraft manufacturer announced last Tuesday in regulatory documents that it will raise up to 25 billion dollars (debt, capital) to give itself “more flexibility” and “sustain its balance sheet over a period of three years”.
Expedia/Uber
Expedia is expected to rise in pre-market trading on Wall Street after the Financial Times reported that Uber would aim to buy the travel specialist in order to diversify its business. The British business daily recalls that Dara Khosrowshahi, current boss of Uber, headed Expedia from 2005 to 2017 and remains a non-executive director. He also worked for seven years within IAC, the conglomerate of Barry Diller, current executive chairman of Expedia. Uber, for its part, is expected to decline.
Lucid
Electric vehicle maker Lucid Group is expected to fall more than 12% in pre-market trading on Wall Street: according to Reuters, it said it expects a larger-than-expected loss for the third quarter announced a public offering of more than 262 million shares. In addition, the Saudi Arabian Investment Fund, majority shareholder of Lucid, announced that it would acquire 374.7 million shares of the company in a private placement and retain a stake of nearly 58.8 % in Lucid.
Travelers
The insurer Travelers revealed results that exceeded analysts’ expectations. In the third quarter, the group saw its net profit soar by 212% to $1.26 billion, or $5.42 per share. Operating or core profit jumped 168% to $1.22 billion, or $5.24 per share, well above the consensus of $3.55. Operational excludes capital gains or losses on the insurer’s investment portfolio, considered exceptional items.
