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Apollo-Managed Funds to Sell Kelvion to SLB in $4.1 Billion Deal

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Apollo Global Management (APO) said funds it manages have agreed to sell cooling systems firm Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming approximately $700 million of debt, the companies said Monday.

The sale includes Apollo-managed funds' majority stake in Kelvion and a minority stake owned by funds advised by Triton, the companies said.

Kelvion has increased its strategic focus and investment in serving data centers, its largest and fastest-growing segment, the companies said.

The transaction, subject to closing conditions and regulatory approvals, is expected to close in the first half of 2027.

SLB shares were up 1.2% in recent premarket trading.

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Update: Liontown Logs Earnings in Fiscal 2026, Revenue Up; Shares Gain 5%

(Updates with the stock movement in the headline and last paragraph)Liontown (ASX:LTR) logged AU$0.031 in earnings per share for fiscal 2026, compared with a loss of AU$0.08 a year ago, a Monday filing showed.For the 12 months ended June 30, revenue was AU$639.1 million versus AU$297.6 million previously, the Australia-listed miner added.The company expects fiscal 2027 concentrate production of 390,000 to 440,000 dry metric tonnes and total capital expenditure of AU$320 million to AU$370 million.Liontown shares rose 5% in recent Monday trade.

ASX:LTR
Wire

Top Cryptocurrencies Fall; Bitcoin Drops Below $78,000

Top cryptocurrencies fell Friday, with Bitcoin (BTC-USD) dropping below $78,000.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell 3.7% in the past 24 hours. The Nasdaq 100 dropped 0.5%, the S&P 500 lost 0.2%, and the Dow Jones Industrial Average was little changed.Bitcoin fell 3.3% to $77,383, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 13% to $39.4 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, declined 2.9% to $2,433.XRP (XRP-USD) lost 5.2%, BNB (BNB-USD) fell 3.2%, and Solana (SOL-USD) shed 5.5%. Dogecoin (DOGE-USD) declined 4.5%, and Cardano (ADA-USD) slumped 5.7%.The total market value of the cryptocurrency industry fell 2.9% in the past 24 hours to $2.61 trillion, with trading volume rising 3% to $101.3 billion.Price: $77430.80, Change: $-2831.06, Percent Change: -3.53%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Market Chatter: Robinhood, Kalshi, Crypto.com Lose Appeals for Injunctive Relief Against Nevada Gaming Control Board

Robinhood Markets (HOOD), Kalshi and Crypto.com's requests for injunctive relief against the Nevada Gaming Control Board were rejected by the Ninth Circuit Court of Appeals, concluding that sports-related event contracts are not regulated by the federal government, multiple news outlets reported Friday.The appeals sought to prevent Nevada from stopping prediction market platforms from operating, which the state categorizes as gambling offerings outside of the Gaming Control Board's framework, CNBC reported.While states argue sports event contracts are essentially sports betting, prediction market providers, backed by the US Commodity Futures Trading Commission, claim their event contracts are hedging derivatives on federally regulated platforms under the Commodity Exchange Act, Bloomberg Law said.Robinhood Markets, Kalshi, and Crypto.com did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $104.33, Change: $-5.43, Percent Change: -4.95%

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