Diamonds and Dogs

1/27/22

Blackstone (BX) shining brightly. Blackstone is up 7% following strong earnings as assets grew 20% in the quarter to $881 billion, approaching their goal of managing a trillion dollars. Blackstone has made a transition to more perpetual capital and steady income transforming from private equity industry of high-octane bets and boom and bust periods.

Intel (INTC) dragging the chips lower. Intel is down 6% following strong earnings, but lower guidance. Going forward, the CEO said a costly turnaround plan would weigh heavily on the chipmaker's financial performance. Profit margins are currently around 51-53%, but Intel wants to get profits back to the 60% level.

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