Blackstone shares fall nearly 6 pct on 2nd day
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Units of Blackstone Group LP   fell on Monday in their second day of trading, as concerns  about valuation set in after the private equity giant&#39;s highly  publicized market debut.
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NEW YORK, May 21-- Blackstone Group, the second-largest U.S. private equity firm, said Monday that it planned to raise $3.87 billion to $4.13 billion in an initial public offering this year.
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Stocks fell for a second day on anticipation that this weekÂs jobs report would show worsening unemployment.
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Blackstone Group LP  units tumbled more than 6 percent in morning trade, falling below the $31 price the private equity giant fetched in its initial public offering last week.
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Australia&#39;s S&amp;P/ASX 200 Index fell from a record. Coles Myer Ltd. dropped for the second day on concern its second-half earnings announced yesterday don&#39;t justify its share price.
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Stocks declined for a second day on mounting evidence that a housing slump is putting the brakes on the economy.
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Shares of Exide Technologies XIDE.O  slumped to a six-month low on Tuesday, a day after the lead  battery maker posted a wider quarterly loss due to dramatically  higher lead prices.
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Shares of Citigroup Inc  and other financial companies suffered broad declines for a second day on Tuesday, as evidence mounted that borrowers are spending less and falling behind on more payments, and the U.S. economy might be near or in recession.
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Japanese stocks fell for a second day Tuesday on disappointing consumer spending and industrial production data. Retailers were among the decliners.
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U.S. stocks slid sharply for a second day on Wednesday after data showing higher-than-expected labor costs stoked fears that inflation and rising interest rates will harm corporate profits.
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British Energy Plc shares plunged for a second day after the UK electricity producer took action to fend off investors who are trying to get more money out of the company&#39;s debt-restructuring plan.
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In the hours before the Hilton hotel chain announced Tuesday that it was selling itself to the Blackstone Group for $26 billion, the company's shares spiked significantly in trading on the New York Stock Exchange.
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Toyota Motor Corp.&#39;s shares fell for a second day, after the world&#39;s second-biggest automaker had an unexpected quarterly profit drop.
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It's the first day of trading for Blackstone. Should you pile on?
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The Blackstone Group's agreement earlier this week to acquire Hilton Hotels for $26 billion sent hotel stocks soaring yesterday as investors scrambled to buy shares of other big lodging firms, particularly Starwood and Marriott International, speculating they too could be takeover targets.
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Stocks fell for a sixth session on Wednesday, led by the Nasdaq's drop of more than 2 percent as profit forecasts from Apple Inc and Motorola fanned worries about a recession and the outlook for tech.
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U.S. stocks dropped sharply on Tuesday, pushing the Dow down more than 200 points in its second-biggest drop of the year, as mounting losses in the subprime mortgage sector and weak retail sales caused investors to sell riskier assets.