U.S. stock market midday update: Pershing Square down 13.03%, acquisition proposal and poor IPO performance trigger market confidence crisis

U.S. Stock Market Midday Update Pershing Square fell 13.03%, with increased trading volume. Based on recent key news: On May 3, Pershing Square proposed to acquire Universal Music Group N.V. for approximately $6.44 billion in cash and stock, expected to be completed by the end of the year. This proposal will merge SPARC Holdings with UMG and list on the New York Stock Exchange, leading to stock price fluctuations. On May 2, Bill Ackman's new $500 million closed-end fund IPO performed poorly, with a significant drop in stock price on the first day. Although Ackman is confident about long-term performance, the market reacted negatively, affecting Pershing Square's stock price. On May 2, investors received free shares of Pershing Square Inc. in Ackman's IPO, resulting in a slight overall gain. However, Pershing Square Inc.'s stock price rose 35.7% on Friday but remained below the offering price, leading to insufficient market confidence in Pershing Square. The market is sensitive to large acquisitions and IPO performance, with clear capital flows. Stocks with High Trading Volume in the Industry Blackstone Group fell 1.69%, with active trading. Based on recent key news: On May 1, Blackstone Group's CEO Vikrant Sawhney sold 30,014 shares at prices between $125.55 and $126.11. This move may raise market concerns about internal confidence in the company, leading to a drop in stock price. On May 4, Blackstone Digital Infrastructure Trust announced plans to raise $1.75 billion through an IPO, and the market's reaction to the new stock issuance may affect stock price fluctuations. On May 4, Blackstone Group formed a joint venture with Anthropic, Goldman Sachs, and others, planning to invest $1.5 billion in AI tool sales, indicating the company's expansion intentions in the AI field, which may have a positive impact on stock prices. The AI industry is expanding, and market demand for tech stocks is increasing. ARES rose 1.02%, with active trading. Based on recent key news: On May 1, Ares Management announced a record first-quarter fundraising scale of $30 billion, a 45% year-on-year increase. This news boosted market confidence, pushing the stock price up over 2%. Source: Reuters On May 2, Ares Management's financial report showed that its assets under management grew to $644.3 billion, an 18% year-on-year increase. Fee-related income grew by 26%, reaching $464 million, further enhancing investors' confidence in the company's profitability. Source: Zhitong Finance On May 2, despite the redemption pressure in the private credit market, Ares Management insisted on expanding its wealth management channels, attracting a large number of institutional investors and stabilizing market expectations. Source: Wall Street Journal. The private credit market faces increasing redemption pressure, and risks need to be monitored. Blue Owl Capital rose 1.15%. Based on recent key news: On May 2, Brown University reduced its holdings of Blue Owl Capital shares by 25.8% in the fourth quarter of 2025. This reduction coincides with the increasing redemption pressure in the private credit industry, affecting market confidence in Blue Owl Capital. On May 2, UBS raised the target price for Blue Owl Capital from $9.00 to $9.50. This move reflects analysts' optimistic expectations for the company's future performance, driving the stock price up. On May 2, market analysis showed that although Blue Owl Capital received a moderate buy rating, top analysts believe that five other stocks offer better investment value. This may influence investors' decisions regarding Blue Owl Capital. The private credit industry faces redemption pressure. Stocks ranked at the top of the industry market capitalization BlackRock fell 1.10%. Based on recent key news: On May 4, BlackRock reduced its voting rights in Deutsche Bank from 6.04% to 5.19%. This move may trigger a reassessment of its investment strategy in the market, leading to a decline in stock price. On May 1, BlackRock's Bitcoin ETF attracted $284 million in inflows, indicating increased market interest in cryptocurrency investments, but failed to boost the stock price. On May 4, BlackRock increased its holdings in Fnac Darty to 531,392 shares. Although this increase shows positive investment activity, it did not significantly impact the stock price. The cryptocurrency market is experiencing increased volatility, and risks need to be monitored