Houlihan Lokey, State Street, Stifel, Blackstone, and TPG Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after the release of a surprisingly weak February jobs report showed an unexpected drop in employment. 

The U.S. economy lost 92,000 jobs, a stark contrast to economists' forecasts of a 60,000 gain. The unemployment rate also ticked up to 4.4% from 4.3% in January. This unexpected downturn in the labor market signals potential economic strain, which tends to negatively impact the financial industry. A weakening economy can lead to reduced borrowing and investment activity by businesses and consumers, directly affecting banks' revenues. Moreover, it raises concerns about the ability of borrowers to repay existing loans, increasing credit risk for lenders. The report was described as a 'knock-down blow' to the view that the labor market was stabilizing, fueling investor uncertainty.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Investment Banking & Brokerage company Houlihan Lokey (NYSE:HLI) fell 3%. Is now the time to buy Houlihan Lokey? Access our full analysis report here, it’s free.
• Custody Bank company State Street (NYSE:STT) fell 3.1%. Is now the time to buy State Street? Access our full analysis report here, it’s free.
• Investment Banking & Brokerage company Stifel (NYSE:SF) fell 2.6%. Is now the time to buy Stifel? Access our full analysis report here, it’s free.
• Asset Management company Blackstone (NYSE:BX) fell 2.9%. Is now the time to buy Blackstone? Access our full analysis report here, it’s free.
• Asset Management company TPG (NASDAQ:TPG) fell 3.3%. Is now the time to buy TPG? Access our full analysis report here, it’s free.

Zooming In On TPG (TPG)

TPG’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 2 months ago when the stock gained 3.9% on the news that its impact investing platform, The Rise Funds, announced a majority investment in Trustwell, a provider of software for the food industry. The investment gave TPG a majority stake in the company, which specialized in SaaS-based regulatory, compliance, and traceability solutions. Following the deal, the previous investor, The Riverside Company, fully exited its position.

TPG is down 34.3% since the beginning of the year, and at $43.22 per share, it is trading 38% below its 52-week high of $69.66 from January 2026. Investors who bought $1,000 worth of TPG’s shares at the IPO in January 2022 would now be looking at an investment worth $1,271.

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