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Blackstone is reportedly set to acquire a 55.1% stake in Japanese e-comics provider Infocom. Blackstone may aim to secure all of Infocom&#39;s shares through a takeover bid and share transfer. Blackstone manages $1.1 trillion in assets.

Blackstone Set To Acquire Japanese E-Comics Giant Infocom For $1.7B: Report

Milan,,Italy,-,August,10,,2017:,Blackstone,Group,Logo,On

Large Cap

Asset Sales

Movers

Blackstone to sell Turtle Bay Resort for $725 million, expected to close Q3 2024. 

What&#39;s Going On With Blackstone Stock Today?

handing a paycheck to an employee

Blackstone is set to grant equity to employees at its U.S. buyout companies, expanding ownership beyond management. Announced at an investor conference, this plan covers new acquisitions and starts with the 18,000 employees of Copeland. To qualify, employees must stay until Blackstone sells or goes public. This initiative follows industry trends promoting broader employee ownership.

Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report

Plymouth Industrial REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) is looking for FY2025 FFO of $1.85-$1.89 vs $1.97 analyst estimate..

Guidance

PLYM

Plymouth Industrial REIT Sees FY2025 FFO $1.85-$1.89 vs $1.97 Est

Plymouth Industrial REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) reported quarterly earnings of $0.40 per share which missed the analyst consensus estimate of $0.46 by 13.04 percent. This is a 16.67 percent decrease over earnings of $0.48 per share from the same period last year. The company reported quarterly sales of $47.29 million which missed the analyst consensus estimate of $50.88 million by 7.05 percent. This is a 6.82 percent decrease over sales of $50.75 million the same period last year.

Earnings

Earnings Misses

Plymouth Industrial REIT Q4 FFO $0.40 Misses $0.46 Estimate, Sales $47.29M Miss $50.88M Estimate

Joby Aviation Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/25/02/b43989539/joby-reports-record-certification-progress-and-delivery-of-second-aircraft-to-us-air-force-at-edwa">details from the report. </a>
The Details: Joby Aviation reported quarterly losses of 34 cents per share, which missed the analyst consensus estimate for a loss of 20 cents. Quarterly revenue came in at $55,000, which beat the analyst consensus estimate of $45,800 and is a decrease from revenue of $1.03 million in the prior year&#8217;s quarter.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43949800/tesla-competes-against-chinese-rivals-with-one-hand-tied-behind-its-back-analyst"> Tesla Competes Against Chinese Rivals &#8216;With One Hand Tied Behind Its Back&#8217;: Analyst</a>
Joby ended the fourth quarter with $933 million in cash, cash equivalents and investments in marketable securities, not including expected Toyota investments totaling $500 million, to be made in two equal tranches of $250 million.
&#8220;The sector-leading progress we made throughout 2024 puts Joby in a great position to capitalize on the opportunities presented by America&#8217;s renewed focus on innovation and manufacturing,&#8221; JoeBen Bevirt, founder and CEO, said. 
&#8220;As well as delivering record progress on certification, we scaled our manufacturing, delivered two aircraft to the Department of Defense and flew 561 miles with a hybrid, hydrogen-electric variant of our aircraft, bringing the flight test fleet to a total of five aircraft,&#8221; Bevirt added. 
JOBY Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Joby Aviation shares are up 3.33% after hours at $6.93 Wednesday.  
Read Next:<a href="https://www.benzinga.com/government/regulations/25/02/43903335/financial-crime-weekly-1-4-billion-ethereum-stolen-in-largest-crypto-hack-ever-sec-creates-cyber-and-emerging-technologies-unit">&nbsp;</a>
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/25/02/43977811/mortgage-rates-drop-to-lowest-levels-since-december-but-housing-market-remains-largely-stuck">Mortgage Rates Drop To Lowest Levels Since December, But Housing Market Remains &#8216;Largely Stuck&#8217;&nbsp;</a></li>
</ul>
Photo: Courtesy of Joby Aviation, Inc.

After-Hours Center

Tech

JOBY

Joby Aviation Stock Climbs After Q4 Results: Here's Why

Cactus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.70 by 1.43 percent. This is a 12.35 percent decrease over earnings of $0.81 per share from the same period last year. The company reported quarterly sales of $272.12 million which missed the analyst consensus estimate of $277.15 million by 1.82 percent. This is a 1.00 percent decrease over sales of $274.87 million the same period last year.

Earnings Beats

Cactus Q4 Adj $0.71 Beats $0.70 Estimate, Sales $272.12M Miss $277.15M Estimate

Modine Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) has outperformed the market over the past 5 years by 51.28% on an annualized basis producing an average annual return of 65.92%. Currently, Modine Manufacturing has a market capitalization of $4.57 billion. 
Buying $100 In MOD: If an investor had bought $100 of MOD stock 5 years ago, it would be worth $1,203.46 today based on a price of $87.01 for MOD at the time of writing.
<h3>Modine Manufacturing's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740609044_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 5 Years Ago Would Be Worth This Much Today

Titan Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWI#NYSE">TWI</a>) sees Q1 sales of $450.000 million-$500.000 million vs $466.08 million analyst estimate.

Titan Intl Sees Q1 Sales $450.000M-$500.000M vs $466.08M Est

A Minnesota couple's dream vacation turned into a nightmare when a routine illness led to a massive medical bill. Mike Cameron, a truck driver from Braham, and his girlfriend, Tami Masterman, were excited for their weeklong cruise on Norwegian Encore, a trip they had won. It was meant to be a special getaway, especially for Tami, who had recently undergone surgery for lung cancer.
<h2 class="wp-block-heading">A Shocking Medical Bill for Flu Treatment</h2>
However, just days into the trip, Mike fell ill with the flu. His oxygen levels dropped, and he was admitted to the ship's medical ICU. Over the next 63 hours, he received oxygen, IV medications, and other treatments, though he repeatedly asked to be discharged. The couple <a href="https://www.youtube.com/watch?v=HNCZCqIEmCc">told</a> FOX 9 Minneapolis-St. Paul, they believed they were covered, as Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) staff assured them their <a href="https://www.benzinga.com/money/best-travel-insurance">travel insurance</a> would take care of up to $20,000 in medical costs.
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That relief quickly vanished when they were handed a $47,638 bill on the final day of the cruise. To make matters worse, Norwegian Cruise Line immediately maxed out both of their credit cards, charging them $26,000 without prior warning. Now, the couple is scrambling to deal with the financial fallout.
<h2 class="wp-block-heading">Insurance Nightmare</h2>
Mike and Tami, like many tourists, bought travel insurance in the hopes that it would shield them in the event of an emergency. However, after returning home, they found themselves stuck in a bureaucratic loop. Until their own health insurance processed the claim, their travel insurance company would not pay for the expenses. But their health insurer declined, stating the treatment was received abroad and not within their network. Meanwhile, <a href="https://www.benzinga.com/news/24/04/38299693/heres-the-gravest-error-you-can-make-with-credit-cards-like-owing-money-to-loan-sharks">interest on the unpaid balance</a> continues to pile up.
Trending: Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a>
"We didn't even get a chance to pay," Tami told FOX 9. "They just took it out. Maxed our two credit cards out. You start thinking you're going to lose your house, you're going to lose your cars."
<h2 class="wp-block-heading">Public Outrage and a Growing Fundraiser</h2>
After their story aired, frustration over cruise ship medical costs exploded online. Many were stunned that a flu diagnosis could result in such an astronomical bill, especially when the couple had taken steps to ensure they were covered.
Mike's daughter, Krystal Cameron, launched a <a href="https://www.gofundme.com/f/relieve-mike-and-tamis-medical-burden">GoFundMe</a> campaign to help ease the burden. So far, the fundraiser has collected over $4,765 toward its $10,000 goal.&nbsp;
See Also: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">Norwegian Defends Its Prices</h2>
Norwegian Cruise Line told them in a letter that the bill was &#8220;accurate&#8221; and that its pricing is "competitive," FOX 9 reported. Norwegian told FOX-9 that it was looking into the matter.&nbsp;
<h2 class="wp-block-heading">A Warning for Future Travelers</h2>
This case serves as a stark warning for anyone planning a cruise. While onboard medical care is often necessary, it comes at a steep price—and even travel insurance may not offer the safety net travelers expect.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

NCLH

A $47,000 Flu? Minnesota Truck Driver Stunned By Massive Cruise Ship Medical Bill Despite Having Travel Insurance

Titan Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWI#NYSE">TWI</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $(0.13) by 169.23 percent. This is a 73.53 percent decrease over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $383.57 million which missed the analyst consensus estimate of $394.38 million by 2.74 percent. This is a 1.70 percent decrease over sales of $390.20 million the same period last year.

Titan Intl Q4 Adj $0.09 Beats $(0.13) Estimate, Sales $383.57M Miss $394.38M Estimate

NewtekOne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEWT#NASDAQ">NEWT</a>) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.66 by 4.55 percent. This is a 30.19 percent increase over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $75.37 million which beat the analyst consensus estimate of $68.87 million by 9.43 percent. This is a 31.00 percent increase over sales of $57.53 million the same period last year.

NEWT

NewtekOne Q4 EPS $0.69 Beats $0.66 Estimate, Sales $75.37M Beat $68.87M Estimate

Seacor Marine Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMHI#NYSE">SMHI</a>) reported quarterly losses of $(0.94) per share which missed the analyst consensus estimate of $(0.67) by 40.3 percent. This is a 570 percent decrease over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $69.81 million which beat the analyst consensus estimate of $65.58 million by 6.44 percent. This is a 4.48 percent decrease over sales of $73.08 million the same period last year.

SMHI

Seacor Marine Hldgs Q4 EPS $(0.94) Misses $(0.67) Estimate, Sales $69.81M Beat $65.58M Estimate

IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the details from the report and additional <a href="https://www.benzinga.com/pressreleases/25/02/b43989544/ionq-announces-fourth-quarter-and-full-year-2024-financial-results">announcements from the company. </a>
The Details:&nbsp;IonQ reported quarterly losses of&nbsp;93 cents&nbsp;per share, which missed the analyst consensus estimate of&nbsp;a loss of 21 cents. Quarterly revenue came in at&nbsp;$11.71 million,&nbsp;which beat the analyst consensus estimate of&nbsp;$9.93 million&nbsp;and is an increase over revenue of&nbsp;$6.11 million&nbsp;from the same period last year.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43949800/tesla-competes-against-chinese-rivals-with-one-hand-tied-behind-its-back-analyst"> Tesla Competes Against Chinese Rivals &#8216;With One Hand Tied Behind Its Back&#8217;: Analyst</a>
&#8220;We had IonQ&#8217;s best year yet in 2024, exceeding the high ends of both our bookings and revenue guidance ranges and making truly significant technical strides,&#8221; said Peter Chapman, IonQ&#8217;s executive chair.
&#8220;As we enter 2025, IonQ has a strong pipeline that we believe will enable us to lead in the era of commercial advantage. Last year, our rapidly expanding quantum networking business line closed three major networking contracts. McKinsey expects the quantum networking industry to be worth $10-$15 billion per year within the next decade,&#8221; noted Chapman.
IonQ announced an at-the-market equity offering under which it may offer and sell shares of its common stock having an aggregate offering price of up to&nbsp;$500 million. 
Additionally, the company <a href="https://www.benzinga.com/pressreleases/25/02/b43989542/ionq-to-acquire-geneva-based-id-quantique-enters-into-global-quantum-strategic-partnership-with-sk">announced</a> two definitive agreements with SK Telecom and ID Quantique. One is to acquire a controlling stake in ID Quantique, and the other is to enter into a strategic partnership focused on quantum with SK Telecom. The transactions will be paid in IonQ common stock.
IonQ <a href="https://www.benzinga.com/pressreleases/25/02/b43989464/ionq-names-niccolo-de-masi-as-president-chief-executive-officer">also announced</a> that the company&#8217;s board of directors appointed Niccolo de Masi as president and CEO, effective immediately, and Peter Chapman will continue in the leadership role of IonQ&#8217;s executive chair.
IONQ Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, IonQ shares are down 10.93% after hours at $26.66 Wednesday.&nbsp;&nbsp;
Read Next:<a href="https://www.benzinga.com/government/regulations/25/02/43903335/financial-crime-weekly-1-4-billion-ethereum-stolen-in-largest-crypto-hack-ever-sec-creates-cyber-and-emerging-technologies-unit">&nbsp;</a>
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/25/02/43977811/mortgage-rates-drop-to-lowest-levels-since-december-but-housing-market-remains-largely-stuck">Mortgage Rates Drop To Lowest Levels Since December, But Housing Market Remains &#8216;Largely Stuck&#8217;&nbsp;</a></li>
</ul>
Image courtesy of IonQ, Inc.

Management

IONQ

IonQ Q4 EPS Miss, $500 Million Offering, CEO Appointment, Acquires Stake In ID Quantique: Details

AlTi Global, Inc. ("AlTi") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTI#NASDAQ">ALTI</a>), today announced the appointment of Mike Harrington to Chief Financial Officer, effective immediately. Mr. Harrington replaces Stephen Yarad and brings nearly four decades of experience in financial services across the banking, investment management and asset management industries to the position.

ALTI

AlTi Global Appoints Mike Harrington Chief Financial Officer, Effective Immediately

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) FY2026 Revenue expected to be more than 975M

Stoneridge FY2026  Revenue expected to be more than 975M

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) sees FY2025 sales of $860.000 million-$890.000 million vs $948.78 million analyst estimate.

Stoneridge Sees FY2025 Sales $860.000M-$890.000M vs $948.78M Est

Stoneridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRI#NYSE">SRI</a>) reported quarterly losses of $(0.18) per share which missed the analyst consensus estimate of $(0.04) by 350 percent. This is a 250 percent decrease over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $218.20 million which missed the analyst consensus estimate of $222.04 million by 1.73 percent. This is a 4.92 percent decrease over sales of $229.50 million the same period last year.

Stoneridge Q4 Adj $(0.18) Misses $(0.04) Estimate, Sales $218.20M Miss $222.04M Estimate

Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) reported quarterly earnings of $1.35 per share which beat the analyst consensus estimate of $1.16 by 16.38 percent. This is a 42.55 percent decrease over earnings of $2.35 per share from the same period last year. The company reported quarterly sales of $2.19 billion which beat the analyst consensus estimate of $2.14 billion by 2.30 percent. This is a 30.89 percent decrease over sales of $3.17 billion the same period last year.

CORRECTION: Ovintiv Q4 Adj $1.35 Beats $1.16 Estimate, Sales $2.19B Beat $2.14B Estimate

Essential Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTRG#NYSE">WTRG</a>) affirms FY2025 GAAP EPS guidance from $2.07-$2.11 to $2.07-$2.11 vs $2.12 analyst estimate..

WTRG

Essential Utilities Affirms FY2025 GAAP EPS Guidance of $2.07-$2.11 vs $2.12 Est

Encore Capital Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ECPG#NASDAQ">ECPG</a>) reported quarterly earnings of $1.50 per share which missed the analyst consensus estimate of $1.52 by 1.32 percent. This is a 20 percent increase over earnings of $1.25 per share from the same period last year. The company reported quarterly sales of $265.62 million which missed the analyst consensus estimate of $374.35 million by 29.05 percent. This is a 4.24 percent decrease over sales of $277.39 million the same period last year.

ECPG

Encore Capital Gr Q4 Adj EPS $1.50 Misses $1.52 Estimate, Sales $265.62M Miss $374.35M Estimate

Essential Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTRG#NYSE">WTRG</a>) reported quarterly earnings of $0.67 per share which met the analyst consensus estimate. This is a 34 percent increase over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $604.38 million which missed the analyst consensus estimate of $643.18 million by 6.03 percent. This is a 26.07 percent increase over sales of $479.42 million the same period last year.

Essential Utilities Q4 EPS $0.67, Inline, Sales $604.38M Miss $643.18M Estimate

SDRL

CORRECTION: Seadrill Q4 2024 Adj. EPS $(0.49) Misses $(0.37) Estimate, Sales $289.000M Miss $296.918M Estimate

Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) has reportedly agreed to purchase Japanese e-comics provider Infocom Corp.



Blackstone is set to acquire a 55.1% stake in Infocom from Tokyo-listed Teijin Ltd., according to a report from <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-31/blackstone-is-said-to-buy-japanese-manga-firm-for-1-7-billion?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>. Blackstone had offered about ¥260 billion ($1.66 billion) for the company, the report added.



Blackstone may aim to secure all of Infocom&#8217;s shares through a takeover bid and share transfer. The firm was selected as the buyer after surpassing bids from Sony Music Entertainment, Japanese fund Integral Corp., and KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), as per the report.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38959529/blackstone-to-grant-equity-to-rank-and-file-employees-at-us-buyouts-report" rel="noreferrer noopener">Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report</a>



Infocom shares have soared about 96% this year, bringing the company&#8217;s valuation to roughly $1.8 billion.



Blackstone had $1.1 trillion in assets under management at the end of the previous year.



Blackstone stock has gained more than 39% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Growth Strength ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTGS#NASDAQ">FTGS</a>) and Amplify AI Powered Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIEQ#NYSE">AIEQ</a>).



Price Action: BX shares closed higher by 2.76% at $119.33 on Thursday.



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Read Next: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/39021029/donald-trump-to-get-endorsement-from-blackstone-ceo-steve-schwarzman-report" rel="noreferrer noopener">Donald Trump To Get Endorsement From Blackstone CEO Steve Schwarzman: Report</a>

Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) stated that Blackstone Real Estate has agreed to sell <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b39059008/blackstone-real-estate-sells-turtle-bay-resort" rel="noreferrer noopener">Turtle Bay Resort for $725 million</a>.



Turtle Bay Resort&nbsp;has 450 rooms on 1,300 acres along the North Shore of O&#8217;ahu and boasts a variety of top-tier amenities.&nbsp;The sale is expected to close in the third quarter of 2024.



Blackstone bought the hotel in 2018 for&nbsp;$332 million&nbsp;and invested significant capital in renovations.



Rob Harper, Head of Blackstone Real Estate Asset Management Americas, said, &#8220;This transaction is an excellent outcome for our investors and a testament to Blackstone&#8217;s ability, including through the pandemic, to transform iconic, luxury hospitality assets. The team executed an ambitious business plan, investing significant capital to reposition the resort for long-term success while also adding high-quality jobs on the North Shore.&#8221;



In a separate transaction, Areté Collective, a vertically integrated development company known for sustainable development practices, disclosed the closing of a transaction to purchase 65 acres of land at Turtle Bay on O‘ahu&#8217;s North Shore.



Including both deals, Blackstone expects to generate sale proceeds of $768 million.



Blackstone stock has gained more than 35% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Growth Strength ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTGS#NASDAQ">FTGS</a>) and&nbsp;Amplify ETF Trust Amplify AI Powered Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIEQ#NYSE">AIEQ</a>).



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38959529/blackstone-to-grant-equity-to-rank-and-file-employees-at-us-buyouts-report" rel="noreferrer noopener">Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report</a>



Price Action: BX shares are down 3.54% at $116.92 at the last check Wednesday.



Image via Shutterstock

What's Going On With Blackstone Stock Today?

Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is reportedly initiating a plan to grant equity to&nbsp;the majority of&nbsp;employees at its U.S. buyout companies.



The decision will be announced&nbsp;at an investor conference this week and will apply to all new acquisitions where Blackstone's&nbsp;private-equity&nbsp;division takes control,&nbsp;<a target="_blank" href="https://www.wsj.com/finance/blackstone-to-grant-equity-to-most-employees-in-future-u-s-buyouts-3c5fed45?mod=hp_listb_pos2" rel="noreferrer noopener">reported&nbsp;</a>The Wall Street Journal.



Blackstone, whose private-equity portfolio encompasses over 400,000 employees, aims to broaden ownership beyond just management ranks, the report added.



The program will begin with the 18,000 employees of Copeland, a climate-technologies unit purchased from&nbsp;Emerson Electric Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) for $14 billion last year.



Employees&nbsp;must remain with their company until Blackstone&nbsp;either&nbsp;sells it or takes it public&nbsp;to qualify for the equity incentives.&nbsp;The payout amount will depend on Blackstone's return on its investment.



The initiative is part of a&nbsp;wider&nbsp;trend within the buyout industry to include more employees in ownership.&nbsp;KKR &amp; Co Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), another major private-equity firm, started broad-based employee ownership programs&nbsp;in&nbsp;2011.&nbsp;



KKR's model was expanded&nbsp;through a nonprofit called Ownership Works, which aims to promote shared ownership among companies.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38852113/morgan-stanley-obtains-700m-property-loan-from-blackstone-venture" rel="noreferrer noopener">Morgan Stanley Obtains $700M Property Loan From Blackstone&nbsp;Venture</a>



Ownership Works, launched by Pete Stavros of KKR, has 19 founding&nbsp;private-equity&nbsp;partners, including KKR,&nbsp;Apollo Global Management&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), Ares Management, Silver Lake, and&nbsp;TPG Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>).&nbsp;



Each partner committed to introducing shared ownership in at least three companies by the end of 2023.&nbsp;



Notably, Blackstone is not a listed partner but has similar programs in place at some companies&nbsp;like Merlin Entertainments, per the report.



Advocates of broader employee ownership argue that it can attract and retain workers in a competitive labor market, help lower-level employees build wealth, and better align their interests with those of management and shareholders.&nbsp;



Blackstone stock has gained more than 50% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Growth Strength ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTGS#NASDAQ">FTGS</a>) and&nbsp;Amplify AI Powered Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIEQ#NYSE">AIEQ</a>).



Price Action: BX shares closed higher by 1.62% at $127.71&nbsp;on Tuesday.



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image: Shutterstock/ Andrey_Popov

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