BlackRock

BlackRock is expanding its role as a financier of the AI boom, including through the AI Infrastructure Partnership and the planned $40 billion acquisition of Aligned Data Centers. Private markets account for only a small share of assets under management but generate above-average fee income. Tomorrow’s quarterly results from Blue Owl are seen as a test for the credit business that is supposed to support BlackRock’s earnings; weak numbers could weigh on sentiment in the short term. BlackRock shares are trading premarket just below the 52-week high, with support around $1,100. » More on deraktionaer.de

Larry Fink sees significant potential in Germany, urges faster approvals so private capital can flow into infrastructure projects, and warns of tougher competition for capital. Blackrock is bringing the "Future Builders" program to Germany with €15 million to counteract the skilled labor shortage and attract young people to trades. Fink also urges stronger investment in artificial intelligence to avoid falling behind faster-advancing countries in productivity. » More on handelsblatt.com

BlackRock reported third-quarter net income of $1.66 billion and adjusted earnings per share of $15.93, well above expectations. Net inflows of $205.5 billion far exceeded the consensus, and assets under management reached a record $15.5 trillion, though that was $80 billion below the analyst consensus. Despite the strong figures, the stock hardly moved and is trading just below its 50-day line, reflecting a new pattern in the earnings season where marginally beaten expectations no longer convince the market. » More on deraktionaer.de

BlackRock reported third-quarter profit of $1.66 billion ($10.57 per share), up from $1.32 billion a year earlier, after assets under management grew to $15.49 trillion. Growth was driven by $134.5 billion of inflows into iShares ETFs and market valuation gains, while net flows into debt products totaled $78.2 billion. BlackRock continues to expand private markets, recording $15.31 billion of net flows there and targeting more than $35 billion in revenue by decade-end with over 30% from private markets and technology. Shares rose nearly 4% in premarket trading following the results. » More on cnbc.com

The US regulator SEC will not sanction Blackrock, Vanguard and State Street for their engagement with the Climate Action 100+ initiative, but warns in an investigative report that coordinated investor actions could jeopardize their passive investor status. Losing that status would trigger significantly stricter and more costly reporting requirements. The inquiry was prompted by the managers’ and activists’ joint approach at the 2021 ExxonMobil shareholders’ meeting, which provoked political backlash. » More on n-tv.de