All the market-moving Wall Street chatter from Tuesday

[Pelican Press 0]

All the market-moving Wall Street chatter from Tuesday

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for real estate ******** challenged, in our view,” Hawken told clients. As a result of the landscape, assets under management in the firm’s real estate income trust have dropped. Hawken said the tough fee-related performance revenue numbers can weigh down fee-related earnings overall. He said to expect the margin for these earnings to come in around flat, with growth that’s considered below average. Still, he said management should be able to grow fees on assets under management in the future. Blackstone is around flat in 2024 despite the broader market uptrend. That marks a pause following 2023’s jump of 76.5%. Shares dipped 1% in thin premarket trading. — Alex Harring 5:45 a.m.: Grindr can rally more than 35%, JMP says Grindr shares can advance as the dating platform focused on LGBTQ+ men converts users to paying members, according to JMP. Analyst Nicholas Jones initiated coverage at market outperform. His $14 price target implies an upside of 36.9% over Monday’s closing level. Jones said Grindr has a runway to expand monetization by getting users to pay for features. Grindr currently converts users to paying at a rate of 7.1%, which is about half of what other dating apps see. However, JMP expects the percentage of paying customers to tick up to 8% by 2026. The total addressable market can also continue to grow as the LGBTQ+ community does, Jones said. And Grindr’s existing customer base is considered involved: Around 10% of users on the app between one and 10 hours a day, compared with 4% for other apps. “We expect its position to strengthen as it continues to convert its large network of highly engaged users to paying users,” Jones wrote to clients. Grindr shares have climbed more than 16% in 2024, extending last year’s gain of more than 88%. The stock, which went public in late 2022, won its first Wall Street initiation just last week. GRND YTD mountain Grindr in 2024 — Alex Harring 5:45 a.m.: RBC initiates GE Vernova as outperform A newly spun-off company is poised for solid gains ahead, according to RBC. Analyst Christopher Dendrinos initiated GE Vernova, General Electric’s power business, with an outperform rating and a price target of $160, implying a gain of 13%. The company will begin trading under the GEV ticker at the New York Stock Exchange on Tuesday. “GEV participates across the electrification value chain providing the company with unique perspective and enables it to be an early mover in responding to the growing complexity and demand of electrical networks,” Dendrinos said. He also said that, as a standalone company, “GEV will benefit from greater flexibility to pursue high-growth and margin-accretive strategies and will face increased accountability across its business lines with the more focused portfolio.” “We believe this will help drive an acceleration in cost-out and simplification initiatives and should position the company to exceed its longer-term margin targets,” the analyst said. — Fred Imbert

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Investment strategy,Stock markets,Grindr Inc.,Blackstone Inc,business news
#marketmoving #Wall #Street #chatter #Tuesday

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