{"id":18827,"date":"2023-06-06T07:45:08","date_gmt":"2023-06-06T11:45:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/blackstone-stock-drops-as-palo-alto-networks-is-added-to-sp-500\/"},"modified":"2023-06-06T07:45:10","modified_gmt":"2023-06-06T11:45:10","slug":"blackstone-stock-drops-as-palo-alto-networks-is-added-to-sp-500","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18827","title":{"rendered":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Blackstone
\n stock fell Monday on evident disappointment that it will have to wait to join the
\n S&P 500.<\/span>\n <\/p>\n

While there has been speculation that
\n Blackstone
\n (ticker: BX) would soon be included in the index, S&P Dow Jones Indices said Friday that security software maker
\n Palo Alto Networks
\n (ticker: PANW) was instead chosen to replace
\n Dish Network
\n (DISH) as part of its quarterly rebalance. The change will begin before the start of trading June 20. <\/p>\n

\n

Blackstone shares fell 3.9% to $85.52 on Monday. <\/p>\n

The speculation about Blackstone began after S&P Dow Jones Indices, which oversees the index, relaxed rules in April and permitted entry of companies with dual-class stocks into the S&P 500, S&P MidCap 400, and SmallCap 600.<\/p>\n

It is a good bet that Blackstone, the largest manager of alternative assets including private equity and real estate, will make it into the S&P 500 this year. S&P Dow Jones Indices presumably made the change to allow companies such as Blackstone and
\n KKR
\n (KKR) into the index. <\/p>\n

While Blackstone doesn\u2019t have two classes of stock, it has preferred stock held by CEO and founder Steve Schwarzman that effectively gives him control of the company. KKR has a similar structure.<\/p>\n

It took
\n Tesla
\n (TSLA) about three months from the time it became eligible for inclusion in the S&P 500 in mid-2020 and its late-year inclusion.
\n Tesla
\n needed to meet a requirement of four quarters of cumulative profitability.<\/p>\n

Shares of
\n Palo Alto Networks
\n have reacted favorably\u2014as stocks of new additions invariably do\u2014amid expectations of buying from index funds. The stock was up 4.4% to $226.79 Monday, while DISH was off 2.7% to $7.10. KKR rose 0.8% to $54.05.<\/p>\n

DISH stock is trading for about a third of its stock price a year ago and had one of the lower market capitalizations of any companies in the S&P 500 at $4 billion, making it vulnerable to deletion. It will be moving to S&P\u2019s small-cap index, apparently being judged too small for the mid-cap index.<\/p>\n

Palo Alto Networks was one of the larger U.S. companies ranked by market value not in the S&P 500\u2014it is valued at about $68 billion. Blackstone is the largest such company at $100 billion, but S&P might not include it in the index at its full market value\u2014assuming it gets in\u2014because more than $30 billion of stock is held by employees as partnership units.<\/p>\n

Some of the largest companies not now in the index include
\n Uber Technologies
\n (UBER), although it may not be eligible now due to profit issue;
\n Snowflake
\n (SNOW);
\n Marvell Technology
\n (MRVL);
\n Airbnb
\n (ABNB); KKR; and
\n Workday
\n (WDAY). All weigh in at more than $40 billion.<\/p>\n

Write to Andrew Bary at andrew.bary@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone (ticker: BX) would soon be included in the index, S&P Dow Jones Indices said Friday that security software maker Palo Alto Networks (ticker: PANW) was instead chosen to replace Dish […]<\/p>\n","protected":false},"author":1,"featured_media":18828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-18827","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBlackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18827\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=18827\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-06T11:45:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-06T11:45:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686051909_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18827#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18827\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500\",\"datePublished\":\"2023-06-06T11:45:08+00:00\",\"dateModified\":\"2023-06-06T11:45:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18827\"},\"wordCount\":474,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=18827#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18827\",\"url\":\"https:\/\/ifintechworld.com\/?p=18827\",\"name\":\"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-06T11:45:08+00:00\",\"dateModified\":\"2023-06-06T11:45:10+00:00\",\"description\":\"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18827#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=18827\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18827#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld","description":"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=18827","og_locale":"en_US","og_type":"article","og_title":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld","og_description":"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone","og_url":"https:\/\/ifintechworld.com\/?p=18827","og_site_name":"iFintechWorld","article_published_time":"2023-06-06T11:45:08+00:00","article_modified_time":"2023-06-06T11:45:10+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686051909_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=18827#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=18827"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500","datePublished":"2023-06-06T11:45:08+00:00","dateModified":"2023-06-06T11:45:10+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=18827"},"wordCount":474,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=18827#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=18827","url":"https:\/\/ifintechworld.com\/?p=18827","name":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500 | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-06T11:45:08+00:00","dateModified":"2023-06-06T11:45:10+00:00","description":"Blackstone stock fell Monday on evident disappointment that it will have to wait to join the S&P 500. While there has been speculation that Blackstone","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=18827#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=18827"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=18827#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Blackstone Stock Drops as Palo Alto Networks Is Added to S&P 500"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18827"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18827\/revisions"}],"predecessor-version":[{"id":18829,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18827\/revisions\/18829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/18828"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}