Bulls Pushing Blackstone to New Daily Highs (BX)

Shares of The Blackstone Group BX are pushing to new daily highs, currently higher on the session by 5.11%, trading at $10.70. The stock is popping today on word that the company will be partnering with Great Eagle Holdings Ltd. to build 1,000 homes in Dalian in Liaoning, China. The development also calls for the construction of 400 hotel rooms. Shares of BX have been moving largely lower over the past six months, off from recent highs near $15.50, though has been catching bids as of late. $10.00 now appears to be mid-term support. Interesting to note is that today's volume is in line with the 10-day average. The Blackstone Group L.P. is a manager of private capital and provider of financial advisory services. The company is an independent manager of private capital with assets under management of $98.2 billion, as of December 31, 2009. Blackstone provides a range of financial advisory services, including corporate and mergers and acquisitions, restructuring and reorganization and fund placement services. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.