Why Carlyle Group Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Carlyle Group Inc. (NASDAQ:CG) shares are down 7.53% after announcing the sale of Cogentrix Energy to Quantum Capital Group for $3 billion. The deal is expected to close between Q4 2024 and Q1 2025, pending regulatory approvals. Carlyle also reported Q2 FY24 earnings that missed analyst expectations, with adjusted EPS of $0.78 versus the consensus of $0.83 and total segment revenues of $788 million versus the consensus of $827.5 million.
August 05, 2024 | 2:54 pm
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NEGATIVE IMPACT
Carlyle Group shares are down 7.53% after announcing the sale of Cogentrix Energy for $3 billion and missing Q2 FY24 earnings expectations.
The sale of Cogentrix Energy and the missed earnings expectations are significant events that have led to a 7.53% drop in Carlyle Group's share price. The market is reacting negatively to the earnings miss and the uncertainty surrounding the pending regulatory approvals for the sale.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (LBO) may experience volatility due to its exposure to Carlyle Group, which is facing a 7.53% drop in share price.
LBO ETF has exposure to Carlyle Group, which is experiencing a significant drop in share price due to the sale of Cogentrix Energy and missed earnings. This could lead to short-term volatility in the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Invesco Global Listed Private Equity ETF (PSP) may experience volatility due to its exposure to Carlyle Group, which is facing a 7.53% drop in share price.
PSP ETF has exposure to Carlyle Group, which is experiencing a significant drop in share price due to the sale of Cogentrix Energy and missed earnings. This could lead to short-term volatility in the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50