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Why Blackstone Rallied Today

TheMotleyFool

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Shares of alternative investment giant Blackstone (NYSE: BX) rallied 4.5% today as of 2:06 p.m. ET.

Blackstone reported second-quarter earnings today that came in well ahead of analyst estimates, as the world's largest private equity firm continues to be the gold standard in the alternative investment world. And a potential new opportunity to raise capital from retirement accounts is adding to the optimism.

In the second quarter, Blackstone's revenue grew 33% to $3.71 billion, while EPS grew a whopping 69% to $0.98, beating expectations.

Source Fool.com