BlackRock vs. State Street: One Stock Rises, the Other Plunges 7%
BlackRock reported $205 billion in quarterly net inflows, lifting its total assets under management to $15.5 trillion and sending the stock higher. State Street drew $68 billion in ETF inflows but still saw its shares fall 7%. The two asset managers diverged on the same day, reflecting differing market assessments of their growth quality and earnings prospects.
