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Sectors

Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was climbing 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.Bitcoin (BTC-USD) was increasing 1% to $64,073, and the yield for 10-year US Treasuries was dropping 5.7 basis points to 4.629%.In corporate news, Apollo Global Management (APO) shares rose 1.3%. The company reported Q2 adjusted earnings Tuesday of $2.11 per share, up from $1.92 a year earlier. Analysts surveyed by FactSet expected $2.16. Revenue for the quarter was $11.15 billion, up from $6.81 billion a year earlier. Analysts expected $5.65 billion.

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Wire

Piper Sandler Adjusts Price Target on Apollo Global Management to $159 From $156, Maintains Overweight Rating

Apollo Global Management (APO) has an average rating of overweight and mean price target of $148.95, according to analysts polled by FactSet.Price: $129.78, Change: $+0.36, Percent Change: +0.28%

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Sectors

Sector Update: Financial Stocks Lean Lower Premarket Tuesday

Financial stocks were leaning lower premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was inactive.HSBC Holdings (HSBC) shares were down more than 1% even after the company posted higher Q2 basic earnings per share and revenue.Apollo Global Management (APO) reported higher Q2 adjusted earnings and revenue. Apollo was 0.6% lower pre-bell.Broadridge Financial Solutions (BR) shares were up more than 2% after the company posted higher fiscal Q4 adjusted earnings and revenue.

$APO$BR$FAS$FAZ$HSBC$XLF
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index up 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index was climbing 2.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was increasing 0.2%.Bitcoin (BTC-USD) was adding 0.6% to $63,888, and the yield for 10-year US Treasuries fell 5.9 basis points to 4.686%.In economic news, the Institute for Supply Management's US manufacturing index rose to 55.6 in July from 53.3 in June, compared with expectations for 53.9 in a Bloomberg-compiled survey. This is the highest reading since May 2022, ISM said.The S&P Global US manufacturing index for July was revised upward to 53.9 from the flash reading of 53.8, compared with expectations for no revision in a survey compiled by Bloomberg.In corporate news, Apollo Global Management-backed (APO) Athora's German unit is close to being sold to Frankfurter Leben, a life insurance consolidator controlled by China's Fosun International, Bloomberg reported. Separately, Apollo said Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth. Apollo shares gained 3.5%.Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. Visa shares were fractionally lower.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were down 0.1%.UBS' (UBS) UBS Financial Services unit was assessed a $125 million civil money penalty for alleged violations of the Bank Secrecy Act, the US Treasury Department's Financial Crimes Enforcement Network said Monday. UBS shares eased 0.1%.

$APO$JPM$UBS$V
Sectors

Sector Update: Financial Stocks Advance Monday Afternoon

Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.2%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.1%.Bitcoin (BTC-USD) was adding 0.3% to $63,674, and the yield for 10-year US Treasuries was shedding 5.5 basis points to 4.69%.In corporate news, Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. Visa shares were down 0.1%.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were steady.Apollo Global Management-backed (APO) Athora's German unit is close to being sold to Frankfurter Leben, a life insurance consolidator controlled by China's Fosun International, Bloomberg reported. Separately, Apollo said Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth. Apollo shares gained 2.5%.

$APO$JPM$V
Wire

Update: Market Chatter: Texas Governor Says Apollo to Make Austin Its 2nd HQ

(Updates with details from Apollo Global Management press release starting from third paragraph.)Apollo Global Management (APO) has picked Austin to be its second headquarters, Bloomberg reported Monday, citing a statement by Texas Governor Greg Abbott.Apollo did not immediately reply to a request for comment from.Apollo said in a press release Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth.Apollo's New York presence will remain the firm's global headquarters.The new hub will incubate emerging and new businesses across Apollo's asset management and retirement solutions platform, the company said.(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: $126.34, Change: $+0.64, Percent Change: +0.51%

$APO
Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each fractionally higher.The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was falling 2.7% to $62,986, and the yield for 10-year US Treasuries climbed 8.2 basis points to 4.745%.In economic news, US consumer sentiment jumped in July amid broad-based gains across demographic groups, while year-ahead inflation expectations eased, final results of a survey by the University of Michigan showed Friday. The main sentiment index increased nearly 12% sequentially to 55.2 this month. The gauge for current economic conditions jumped to 54.8 from 47.7, while the index of consumer expectations advanced 9.3% to 55.4, according to the survey.In sector news, Jefferies Financial's (JEF) Point Bonita fund is one of at least two creditors currently reviewing their exposure to Radiant World after two trading houses found invoices or other documents the company provided to banks were not valid, Bloomberg reported. Jefferies shares were down 0.4%.Coinbase (COIN) shares fell 7.8% on Friday, a day after the company reported lower-than-expected Q2 results.Apollo Global Management (APO) and KKR (KKR) are facing increased scrutiny from US insurance regulators over fast-growing multi-asset securitization structures that officials say could pose transparency and "circular ownership" risks, the Financial Times reported. Apollo shares were up 3.8%, and KKR was gaining 0.2%.HSBC (HSBC) said Friday it expects to incur $300 million in restructuring costs and write-offs following its decision to sell its Australian home loans and personal loans portfolio and wind down the remainder of the retail business in the country over the next 18 months. Separately, HSBC has held early talks to transfer billions of pounds of assets from its UK pension scheme to insurers after being approached by potential buyers, Bloomberg reported. HSBC shares were down 0.6%.

$APO$COIN$HSBC$JEF$KKR
Sectors

Sector Update: Financial Stocks Edge Higher Friday Afternoon

Financial stocks were slightly higher in Friday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.2%.The Philadelphia Housing Index was slightly lower, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.Bitcoin (BTC-USD) was falling 3% to $62,832, and the yield for 10-year US Treasuries climbed 7.4 basis points to 4.737%.In economic news, a survey conducted by the University of Michigan showed respondents expect a 4.2% inflation rate over the next year, down from 4.6% in June, and 3.3% annual inflation over the next five years, in line with a month ago. The Federal Reserve has remained above its 2% inflation target for more than five years.In sector news, Leopold Aschenbrenner's hedge fund, Situational Awareness, is unwinding its public stock positions after losses on AI infrastructure investments and short bets against software stocks, CNBC reported. The fund's prime brokers have been raising cash to meet margin requirements, while Citadel agreed to buy its publicly traded assets, the report said. Situational Awareness had grown to about $45 billion at the start of July before the losses, the report said.In corporate news, Apollo Global Management (APO) and KKR (KKR) are facing increased scrutiny from US insurance regulators over fast-growing multi-asset securitization structures that officials say could pose transparency and "circular ownership" risks, the Financial Times reported. Apollo shares were up 3.6%, and KKR was shedding 0.2%.Coinbase (COIN) shares fell past 9% after it reported a Q2 loss late Thursday of $1.36 per diluted share, swinging from earnings of $5.14 a year earlier. Analysts polled by FactSet expected a loss of $0.44. Revenue for the quarter was $1.22 billion, down from $1.5 billion a year earlier, and missing the consensus estimate of $1.29 billion.HSBC (HSBC) said Friday it expects to incur $300 million in restructuring costs and write-offs following its decision to sell its Australian home loans and personal loans portfolio and wind down the remainder of the retail business in the country over the next 18 months. Separately, HSBC has held early talks to transfer billions of pounds of assets from its UK pension scheme to insurers after being approached by potential buyers, Bloomberg reported. HSBC shares were down 0.4%.

$APO$COIN$HSBC$KKR
Sectors

Sector Update: Financial

Financial stocks were edging up in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each fractionally higher.The Philadelphia Housing Index was slightly lower, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.Bitcoin (BTC-USD) was falling 3% to $62,832, and the yield for 10-year US Treasuries climbed 7.4 basis points to 4.737%.In corporate news, Apollo Global Management (APO) and KKR (KKR) are facing increased scrutiny from US insurance regulators over fast-growing multi-asset securitization structures that officials say could pose transparency and "circular ownership" risks, the Financial Times reported. Apollo shares were up 3.3%, and KKR was shedding 0.3%.

$APO$KKR
Wire

Sector Update: Financial Stocks Advance Monday Afternoon

Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.6%.The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was declining 0.9% to $64,771, and the yield for 10-year US Treasuries was decreasing 3.4 basis points to 4.645%.In corporate news, Apollo Global Management (APO) shares added 0.9% after it said Monday that it has agreed to invest $1.5 billion into Keppel Offshore Fund, a portfolio of offshore energy assets managed by Singapore's global asset manager Keppel.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 3.9%.Wise's (WSE) potential plans of building stablecoin technology for settlement would be a potential offset to the recent denial for a US national trust charter and would add a meaningful resilience to the business going forward, UBS said in a research note. Wise shares rose 4.8%.

$APO$BOH$WSE
Wire

Apollo Global Management to Invest $1.5 Billion in Keppel Offshore Fund

Apollo Global Management (APO) said Monday that it has agreed to invest $1.5 billion into Keppel Offshore Fund, a portfolio of offshore energy assets managed by Singapore-based global asset manager Keppel.The transaction is subject to customary closing conditions, which include receipt of applicable regulatory approvals, Apollo said.Shares of Apollo were up more than 1% in recent Monday trading.Price: $124.54, Change: $+1.93, Percent Change: +1.57%

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Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding about 0.5%.The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.4%.Bitcoin (BTC-USD) was declining 1.2% to $65,726, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.657%.In sector news, Kalshi said Wednesday that it will launch a new election portal aimed at becoming a key reference point for US election odds ahead of the November midterm elections, according to multiple media reports.In corporate news, the EU is preparing to revisit airline ownership rules to tighten limits on foreign control of carriers, Reuters reported Wednesday, citing an EU official. The move may complicate US bids for easyJet, which is the target of competing takeover offers from New York-based Apollo Global Management (APO) and Minneapolis-based Castlelake, the report said. Apollo shares were up 0.4%.Morgan Stanley's (MS) wealth management unit has gained more than $70 billion in net new assets during Q2, largely fueled by the initial public offering of SpaceX (SPCX), Bloomberg reported. Morgan Stanley shares rose 1.1%.Coinbase (COIN) has settled its Freedom of Information Act lawsuit against the US Securities and Exchange Commission with the regulator agreeing to provide additional documents and pay $150,000, a court filing said Wednesday. Shares were off 5.3%.CME (CME) shares jumped 5% after it reported Q2 adjusted earnings Wednesday of $2.99 per diluted share, up from $2.96 a year earlier. Analysts polled by FactSet expected $2.91.

$APO$CME$COIN$MS
Wire

Market Chatter: EU Plans Review of Airline Ownership Rules Amid EasyJet Bids

The EU is preparing to revisit airline ownership rules to tighten limits on foreign control of carriers, Reuters reported Wednesday, citing an EU official.The move may complicate US bids for easyJet, which is the target of competing takeover offers from New York-based Apollo Global Management (APO) and Minneapolis-based Castlelake, the report said.The review, expected in the autumn, would clarify what corporate structures are permitted around control and ownership, while Apollo, Castlelake and easyJet haven't discussed deal details with EU regulators, the report said.The EU did not immediately respond 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: $118.97, Change: $+0.57, Percent Change: +0.48%

$APO
Research

HSBC Initiates Apollo Global Management at Buy With $145 Price Target

Apollo Global Management (APO) has an average rating of overweight and mean price target of $150.33, according to analysts polled by FactSet.

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Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks edged up in late Thursday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.The Philadelphia Housing Index rose 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.8%.Bitcoin (BTC-USD) was shedding 0.8% to $64,191, and the yield for 10-year US Treasuries rose 2.4 basis points to 4.569%.In economic news, US retail sales rose 0.2% in June, following a 1.0% gain in the prior month, and meeting expectations in a survey compiled by Bloomberg.Initial jobless claims dropped to 208,000 in the week ended July 11 from 216,000 in the previous week, compared with expectations for an increase to 217,000.In corporate news, Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported. Apollo shares were up 0.7%.BlackRock (BLK) delivered a largely clean Q2 performance, with margin expansion reinforcing confidence that organic base fee growth can be sustained at the high end of guidance, UBS said in a note. UBS kept its buy rating and raised the price target to $1,320 from $1,270. BlackRock shares were down 0.7%.U.S. Bancorp (USB) and State Street (STT) reported higher Q2 earnings year over year on Thursday, as both lenders topped revenue estimates amid strong net interest income and fee-based gains. U.S. Bancorp shares rose 1.5%, and State Street was shedding 0.8%.Voya Financial (VOYA) has attracted informal takeover interest in recent weeks, though no talks are underway and the company's management and board are not seeking a transaction, Semafor reported. Voya shares rose 1.4%.

$APO$BLK$STT$USB$VOYA
Sectors

Sector Update: Financial

Financial stocks were edging higher in late Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each increasing 0.1%.The Philadelphia Housing Index was climbing 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.8%.Bitcoin (BTC-USD) was shedding 0.8% to $64,203, and the yield for 10-year US Treasuries was rising 2.4 basis points to 4.569%.In corporate news, Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported. Apollo shares were up 0.8%.

$APO
Wire

Market Chatter: Apollo Plans Up to $20 Billion to Finance Projects in Mexico

Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported Thursday, citing people familiar with the matter.The asset manager is in talks to finance infrastructure projects as well as other debt deals in Mexico, the report said, citing the people.Apollo 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: $121.87, Change: $+0.03, Percent Change: +0.03%

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Wire

Apollo Plans Up to $20 Billion for Financing Projects in Mexico, Bloomberg Reports

Apollo Plans Up to $20 Billion for Financing Projects in Mexico, Bloomberg Reports

$APO
Wire

Market Chatter: Apollo Global Management Engages With New York Yankees Over $3 Billion Financing Deal

Apollo Global Management's (APO) sports investing unit could be preparing a $3 billion financing package for the New York Yankees amid rising institutional capital inflows in professional sports, Bloomberg reported Wednesday, citing people familiar with the matter.Some of the funds are expected to be used to refinance outstanding debt, with the balance earmarked for growth opportunities, sources told the media outlet.Deliberations are underway, and a final decision regarding the financing structure is yet to be made, people told Bloomberg.Apollo Global Management and the New York Yankees 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: $122.80, Change: $+2.87, Percent Change: +2.39%

$APO
Wire

Blackstone, Anthropic, Hellman & Friedman Unveil Enterprise AI Services Firm

Blackstone (BX), Anthropic and Hellman & Friedman said Wednesday they were launching the AI services firm Ode with Anthropic.Ode is a standalone company combining Anthropic's frontier AI models, AI engineers and operators and a consortium of investors that includes Goldman Sachs (GS), Apollo Global Management (APO), General Atlantic, Leonard Green & Partners, GIC and Sequoia Capital.Blackstone shares were 3.8% higher in Wednesday trading.Price: $129.44, Change: $+4.88, Percent Change: +3.92%

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