Blackstone Reports Strong Q3 Numbers and 3 Must-See Morning Hot Stocks
According to a Bloomberg report, Amazon (NASDAQ:AMZN) is in talks, so far only in private, to acquire Brazilian bookstore chain and online book seller Saraiva SA Livreiros Editores. Amazon is said to be looking to expand its interests in new markets and in Brazil.
Telecom equipment maker Alcatel-Lucent (NYSE:ALU) announces plans to cut 5,500 jobs worldwide in an effort to trim costs of 1.25 billion euros and restore profitability by end-2013.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Morgan Stanley (NYSE:MS) reports third quarter revenues of $5.3 billion, down mainly due to a hit of $2.3 billion for charges arising from Debt Valuation Adjustment. It earned $562 million ($0.28 per share) from continuing operations excluding Debt Valuation Adjustment. The better adjusted earnings were a result of improved revenues from FICC operations which were higher by 36 percent annually. The bank’s Tier 1 capital ratio is 13.7 percent compared to 11.6% a year ago, while book value falls to $30.53 a share from $31.29 a year ago.
Blackstone (NYSE:BX) reports strong Q3 numbers with EPS of $0.55 beating by $0.14 and revenues of $1.22 billion ahead by $230 million. The company’s measure of profitability, Economic Net Income, is $622 million for the quarter compared to a loss of $234 million in the past year period. Assets under management shoot up 30 percent y-on-y to $205 billion.
Don’t Miss: France and Germany Go Head-to-Head Over Banking.