$APO

Wire3d ago

Market Chatter: Apollo Sports Capital Interested in NFL Stake

Apollo Global Management's (APO) Apollo Sports Capital is interested in investing in an NFL team, Chief Executive Officer Al Tylis said at Bloomberg's Power Players New York event, Bloomberg reported Thursday.Tylis said the firm is interested in "any great sports property anywhere in the world," which includes the NFL.Apollo Sports Capital is not currently on the NFL's approved list of private equity investors, which was established two years ago and allows approved firms to buy stakes of up to 10% in as many as six clubs, the report added.Tylis said Apollo Global Management's sports unit, started about a year ago, has invested or committed to $13 billion in deals, including a $2.6 billion stake in the New York Yankees announced last month, as well as investments in Atletico de Madrid and Wrexham AFC, according to the report.(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: $128.59, Change: $-2.39, Percent Change: -1.82%

Wire5d ago

Apollo Loans Carry Premium of About One Percentage Point, Research Paper Says

Apollo Global Management (APO) loans carry a premium of about one percentage point, according to a research paper published Tuesday by US academics Vince Buccola of the University of Chicago and Greg Nini of Drexel University.The higher loan charges are due to Apollo's reputation for "aggressive treatment of lenders," the authors wrote in the paper titled "The Sponsor Premium".The results of the study correspond with the opinions of many credit investors and investment bankers about a so-called "Apollo premium" that has existed over the past two decades, according to a Financial Times report Tuesday.In an emailed statement to, Apollo called the study "flawed". "As the paper's own data shows, Apollo portfolio company borrowers carry lower leverage and tighter documentation than comparable borrowers, leading to strong outcomes for lenders and equity investors alike," the company said.Price: $133.99, Change: $+0.32, Percent Change: +0.24%

Sectors12d ago

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.8%.The Philadelphia Housing Index shed 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.3%.Bitcoin (BTC-USD) fell 1.7% to $77,205, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.796%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.In corporate news, Bank of America's (BAC) Erin Piacenti, vice president of the business selection and conflicts unit, died at the hospital after being stabbed in Times Square Monday, multiple media outlets reported Tuesday, citing the New York City Police Department and the bank's statement. The suspect, Pamela Cisneros, first stabbed a man in the abdomen as he stood with his wife waiting to cross the street, and then continued north on Seventh Avenue and stabbed Piacenti in the abdomen near 42nd Street, Bloomberg reported. NYPD Commissioner Jessica Tisch said the attacks appeared to be random and unprovoked, and the suspect had a history of mental health issues, Reuters reported. Bank of America shares were down 0.1%.S&P Global (SPGI) is considering spinning out Capital IQ Pro, a move that could create a standalone firm worth billions of dollars, Bloomberg reported. S&P is in the early stages of weighing its options for its flagship data and research platform, the report said, adding that the unit could fetch a valuation in the high single-digit billions of dollars in a spinoff scenario. S&P Global shares were up 1.1%.Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.8%.Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares were down 4.7%.

$APO$BAC$BX$SPGI

Sectors12d ago

Sector Update: Financial Stocks Softer Tuesday Afternoon

Financial stocks fell in Tuesday afternoon trading with the NYSE Financial Index declining 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 0.7%.The Philadelphia Housing Index lost 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.Bitcoin (BTC-USD) fell 1.4% to $77,481, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.786%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75% to 4% in September surged to 66% after midday Tuesday from 40% a day ago, according to the CME FedWatch tool.In corporate news, Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.2%.Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares fell 4.4%.Intercontinental Exchange-backed (ICE) prediction site Polymarket is set to receive a $300 million investment from existing investor 1789 Capital, in which Donald Trump Jr. is a partner, the Wall Street Journal reported. Intercontinental Exchange shares fell 1%.

$APO$BX$ICE

Sectors12d ago

Sector Update: Financial

Financial stocks declined in Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.8%.The Philadelphia Housing Index was falling 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally lower.Bitcoin (BTC-USD) was shedding 1.4% to $77,481, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.786%.In corporate news, Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. The broadband provider reported Q2 revenue of $386 million, down 8.7% from a year earlier, the report said. Apollo shares were down 3.7%.

Market Chatter: Blackstone, Apollo Said to Consider Bids for $3.5 Billion Syensqo Division

Blackstone (BX) and Apollo Global Management (APO) are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more in a deal, Bloomberg reported Tuesday, citing people familiar with the matter.Cinven, Advent and Bain Capital are also considering bids for the division, which sells chemical products to customers in the consumer care, agriculture, coatings and mining sectors, the report said, citing the people.The companies didn't immediately reply 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: $136.54, Change: $-6.70, Percent Change: -4.68%

$APO$BX

Blackstone, Apollo Said to Consider Bids for $3.5 Billion Syensqo Division, Bloomberg Reports

$APO$BX

Market Chatter: Apollo's Brightspeed Warns of Going-Concern Risk

Apollo Global Management-backed (APO) Brightspeed informed investors there's significant doubt it can continue as a going concern, Bloomberg reported Tuesday, citing people familiar with the matter.The broadband provider reported Q2 revenue of $386 million, down 8.7% from a year earlier, the report said.Brightspeed notified investors it is exploring an asset-backed securitization, among other financing options, to buttress its balance sheet, the report said.Brightspeed didn't immediately reply to a request 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: $135.12, Change: $-1.47, Percent Change: -1.07%

Apollo's Brightspeed Warns Investors It May be Unable to Continue as Going Concern, Bloomberg Reports

$AON$APO$BLK$KKR$MUFG$UBS

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding about 0.6%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.6%.Bitcoin (BTC-USD) was increasing 1.8% to $79,059, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.758%.In corporate news, Aon (AON) has agreed to buy insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares fell past 9%, and KKR rose 1.5%.Apollo Global Management-managed (APO) funds have agreed to sell cooling systems company Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming about $700 million of debt as well, the companies said Monday. Apollo shares added 1.4%.BlackRock (BLK) and Mitsubishi UFJ Financial Group (MUFG) are teaming up to develop a framework to finance deals in Japan with private credit, Bloomberg reported. BlackRock shares were down 1%, and Mitsubishi UFJ was shedding 0.6%.UBS (UBS) can meet 50% of its new capital requirements with debt, Bloomberg reported Monday, citing a recommendation from the upper house of the Swiss parliament's Economic Affairs and Taxation Committee. Shares were up 1.5%.

$AMZN$APO$AVGO$BAM$BLK$BX$GS$KKR$MRVL$NVDA

Sector Update: Financial Stocks Softer Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.The Philadelphia Housing Index was falling 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 1.3%.Bitcoin (BTC-USD) was increasing 1.2% to $78,638, and the yield for 10-year US Treasuries was rising 4 basis points to 4.76%.In corporate news, Aon (AON) has agreed to buy insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion, as the professional services firm aims to boost its presence in the US middle-market insurance segment. Aon shares were down 8%, and KKR rose 1.7%.Apollo Global Management-managed (APO) funds have agreed to sell cooling systems company Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming about $700 million of debt as well, the companies said Monday. Apollo shares added 1.5%.BlackRock (BLK) and Mitsubishi UFJ Financial Group (MUFG) are teaming up to develop a framework to finance deals in Japan with private credit, Bloomberg reported. BlackRock shares were down 0.7%, and Mitsubishi UFJ was shedding 0.5%.

$AON$APO$BLK$KKR$MUFG

US Markets13d ago

SLB to Strengthen Data Center Business with $4.1 Billion Acquisition of Kelvion From Apollo

SLB (SLB) agreed to acquire cooling equipment maker Kelvion from Apollo Global Management (APO) in a deal worth $4.1 billion, including debt, as it looked to boost its data center solutions business.SLB, formerly known as Schlumberger, will purchase Kelvion for about $3.4 billion in cash, the companies said in separate statements Monday. The oilfield services company will also take over roughly $700 million in debt, along with a minority interest held by funds advised by Triton.Shares of SLB rose 1.9% intraday Monday, while Apollo added 1.4%."Kelvion advances our path toward more integrated data center infrastructure solutions, expands our addressable market - more than doubling our revenue opportunity per gigawatt of delivered capacity - and allows us to scale both our offerings and the global reach of the business," SLB Chief Executive Olivier Le Peuch said.Kelvion provides thermal management and heat exchange technologies to the data center market, its largest end market, as well as the energy and industrial segments. Kelvion's data center revenue is expected to reach $1.2 billion to $1.3 billion in 2026, SLB said.SLB expects to record more than $2 billion in combined data center revenue this year and $4.5 billion to $5 billion in 2028. SLB forecasts its data center solutions business' cumulative delivered capacity to exceed 2 gigawatts by the end of the year.Last month, SLB reported second-quarter revenue of $8.97 billion, up 5% on a yearly basis. In an emailed client note at the time, Morgan Stanley said growth in the company's data center solutions business was accelerating, while the division's model remained "relatively capital-light."The Kelvion deal, which requires approval from regulators, is expected to complete in the first half of next year, SLB and Apollo said Monday.SLB estimates the acquisition to be accretive to its earnings and free cash flow, both on a per-share basis, in the first 12 months after completion. The company forecasts delivering around $120 million in annual earnings before interest, taxes, depreciation and amortization synergies within three years."We believe long-term growth will accelerate as part of SLB, a global leader in energy services that's applying its expertise to data center development around the world," Apollo Partner Waleed Elgohary said.Earlier this year, SLB agreed to acquire Tachyus, a reservoir modeling and optimization software company, and S&P Global Energy's geoscience and petroleum engineering software portfolio.Price: $58.59, Change: $+1.26, Percent Change: +2.20%

$APO$SLB

Wire13d ago

Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform

Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips.Under the deal, Nvidia bought $3.5 billion convertible bonds issued by MediaTek, and the Taiwan-based fabless chipmaker will adopt the NVLink Fusion platform, which provides chipmakers with prevalidated connectors and specialized memory to integrate custom AI accelerators directly into Nvidia's rack-scale data center systems."MediaTek is one of the world's great semiconductor companies, with exceptional expertise in system-on-chip design, connectivity, leading performance and power efficiency," Nvidia Chief Executive Jensen Huang said. "Together, we're building platforms that bring Nvidia accelerated computing to new markets and give customers the freedom to create differentiated AI systems at enormous scale.""Nvidia's investment strengthens a collaboration that spans cloud AI infrastructure, local AI computing and automotive in the era of physical AI," MediaTek CEO Rick Tsai said.Last week, Nvidia reported fiscal second-quarter results that more than doubled from a year ago and topped Wall Street expectations, driven by record data center sales. Morgan Stanley said the chipmaking giant offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Separately, Nvidia announced an expanded partnership with Amazon.com's (AMZN) Amazon Web Services to supply 2 million additional GPUs across AWS infrastructure in 2027 and 2028, and build dedicated 100,000-GPU AI factories for federal security workloads.Earlier in August, Nvidia said it was collaborating with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR) were part of the partnership.Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.Nvidia's shares were up 1.1% Monday and have gained 18% this year.Chip designer Marvell Technology (MRVL) reported late last week second-quarter results above Wall Street's estimates amid a surge in data center revenue. B. Riley Securities said the company's fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday.Price: $220.40, Change: $+2.85, Percent Change: +1.31%

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Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.7% higher.The United States Oil Fund (USO) was up 2.7% and the United States Natural Gas Fund (UNG) was less than 1% higher.Front-month US West Texas Intermediate crude oil was 2.5% higher at $85.52 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.5% to $90.26 per barrel, and natural gas futures were up 0.2% at $2.89 per 1 million British Thermal Units.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. Shares of SLB were up nearly 2% pre-bell.Eni (E) entered Uruguay's offshore sector through an agreement with MIWEN, a wholly owned subsidiary of YPF, and ANCAP to join the OFF-5 exploration block, following regulatory approval, the company said. Eni shares were up more than 2% premarket.Oneok (OKE) stock was up more than 1% after the company said it has agreed to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing facilities for about $4.43 billion.