All articles tagged with #apollo global management
Coinstar LLC, owned by Apollo Global Management, plans to repay over $750 million in bonds next month following its sale to Arctic Slope Regional Corp., a company owned by Alaska Native shareholders, marking a significant financial move and a notable transaction involving indigenous-owned businesses.
AI-related companies are increasingly represented in investment-grade indexes, reflecting AI's growing influence in public credit markets, as highlighted in Apollo's 2026 outlook and analysis.
Papa John’s stock fell by up to 21% after Apollo Global Management withdrew its bid to take the company private at $64 per share, marking the largest drop since March 2020, amid broader industry shifts including Yum! Brands' review of Pizza Hut.
Apollo Global Management found a way to short First Brands' debt despite being on a blacklist, using complex arrangements that avoided owning the loans directly. This maneuver was part of a broader decline in First Brands' financial stability, which is expected to file for bankruptcy after its debt value plummeted over half in two weeks due to failed refinancing and financial concerns.
Apollo Global Management has decided to halt its 2027 associate class recruiting, criticizing industry norms of early recruitment and citing concerns over rushed career decisions and turnover, a move that aligns with criticisms from JPMorgan's Jamie Dimon about unethical recruiting practices.
The S&P 500 index is undergoing changes with Apollo Global Management and Workday being added, while Qorvo and Amentum Holdings are removed due to market capitalization requirements. These changes reflect the dynamic nature of the index, which aims to include companies with significant market value. Inclusion in the S&P 500 is prestigious and can impact stock visibility and price, although the effect is less pronounced than in the past. The Nasdaq-100 is also set for a reranking, with potential candidates being evaluated based on growth prospects.
AppLovin's stock plummeted nearly 15% after the company was not included in the S&P 500 during the index's quarterly rebalancing, despite a significant rise in its stock value earlier this year. Instead, Workday and Apollo Global Management were added to the index, with Workday's stock rising and Apollo's initially spiking before closing lower. AppLovin, known for its app development and mobile games, remains on IBD's Big Cap 20 and Tech Leaders lists.
Workday and Apollo Global Management are set to join the S&P 500 index, replacing Qorvo and Amentum Holdings, which will move to the S&P SmallCap 600. This change, effective December 23, led to a rise in Workday and Apollo stocks, while AppLovin, despite its significant gains in 2024, was not included in the S&P 500, causing its stock to drop. Additionally, Comerica and Carpenter Technology will move to the S&P MidCap 400, while Terreno Realty and Champion Homes will join the S&P SmallCap 600.
Apollo Global Management and Workday Inc. have been added to the S&P 500 index, replacing Qorvo Inc. and Amentum Holdings Inc. This change, effective December 23, follows Apollo's significant market value increase and Workday's projected growth. Inclusion in the S&P 500 can enhance a company's profile, while removal can negatively impact stock prices.
Apollo Global Management and Workday are set to join the S&P 500 index, replacing Qorvo and Amentum, respectively, effective December 23. This change follows the recent addition of Texas Pacific Land to the index. Qorvo and Amentum will transition to the S&P SmallCap 600. The S&P 500 has risen 28% this year.
Marc Rowan, CEO of Apollo Global Management, has emerged as a leading candidate for Treasury Secretary in Donald Trump's potential new administration. Rowan, who has significant support from Trump's confidants and Wall Street donors, is set to meet with Trump to discuss the role. He faces competition from other contenders like Scott Bessent and Kevin Warsh. Rowan's candidacy gains momentum following Trump's appointment of Howard Lutnick to lead the Commerce Department. The decision for Treasury Secretary will require Senate confirmation.
President-elect Donald Trump is considering Marc Rowan, CEO of Apollo Global Management, for Treasury Secretary, which could benefit the $24 trillion private equity market. Rowan's potential appointment comes amid regulatory scrutiny of private equity, and his selection would follow Trump's pattern of choosing industry insiders for key positions. Rowan's wealth and support for Trump, including a $1 million donation, bolster his candidacy. The appointment could influence regulatory approaches to private equity, similar to former Treasury Secretary Steven Mnuchin's tenure.
Apollo Global Management's Co-President Scott Kleinman warns that the private equity industry must brace for lower valuations and returns due to higher borrowing costs and economic uncertainty. He highlights that the industry did not take significant markdowns during recent rate hikes, leading to a challenging period ahead. Despite this, Kleinman sees potential in new buyouts, particularly in the US, and expects Apollo to continue participating in significant deals.
Apollo Global Management will acquire a 49% stake in Intel's new manufacturing facility in Ireland for $11 billion, allowing Intel to reallocate investment funds. The deal, expected to close in Q2, involves Intel's Fab 34 joint venture, which uses advanced lithography technology. Intel retains full ownership and operational control of the factory.
Intel Corp. has agreed to sell a 49% stake in its Irish venture, which controls the Fab 34 plant, to Apollo Global Management for $11 billion. This move is part of Intel's strategy to secure external funding for its ambitious expansion plans and to revitalize its manufacturing capabilities. The transaction is expected to be completed by the second quarter of 2024, allowing Intel to invest its resources elsewhere while maintaining a strong balance sheet.