Latest news with #ApolloGlobalManagement
Yahoo
4 days ago
- Business
- Yahoo
Jim Cramer Says He Will 'Entertain the Thought of ADT Inc (ADT) Right Now'
We recently published a list of . In this article, we are going to take a look at where ADT Inc. (NYSE:ADT) stands against other stocks that Jim Cramer discusses. Cramer said that he is avoiding ADT Inc. (NYSE:ADT) stock despite its strengths because Apollo Global Management's large and ongoing share sell-offs can become a major risk. 'The majority of ADT's revenue comes from their monitoring and related services, which primarily consists of recurring revenue that's generated from providing monthly monitoring and other services. I always like to see some recurring revenue… Look, ADT's done a good job of coming up with new products that make customers' homes more secure, including a partnership with Google on its Nest devices… Despite what seemed like a solid quarter in April and the progress the company's making in new offerings, there is something not great here. A major overhang that prevents me from even considering ADT right now. See, Apollo Management, the private equity firm, is the company's largest shareholder, nearly 30% ownership stake…. A technician demonstrating a security solution for a corporate office. ADT Inc. (NYSE:ADT) provides security and smart home products, including alarms, cameras, automation systems, and personal emergency response services. The company's offerings enable customers to monitor and control their homes remotely through different devices and apps. Overall, ADT ranks 10th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ADT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
CNBC
4 days ago
- Business
- CNBC
Tariffs didn't bite the stock market in May, but June could be a different story
The strong performance for stocks in May could be a sign that Wall Street has decided to shrug off President Donald Trump's tariff plans, but there are some reasons to think the impact on trade will be harder to avoid in the months ahead. For one, global trade does not appear to have found a new equilibrium just yet. Container ship departures from China to the U.S. are trending lower again, and as of late May were down almost half from the same time a year ago, according to a chart shared by Apollo Global Management chief economist Torsten Slok. "The court ruling and reversal over the past few days is not making it easier for businesses to decide if they should import now or wait," Slok said in a note Friday. Add in Trump's accusation on Friday that China has " violated " the preliminary trade agreement reached earlier this month, and it's hard to blame companies who might be hesitant to place that next import order. Inflation is another factor that is still up in the air. Friday's personal consumption index data came in a tick lower than expected , but that reading was for April. Cayla Seder, macro multi-asset strategist at State Street, told CNBC that her firm's data shows a recent uptick in prices for household goods and electronics. That could lead to continued pressure on stocks like tech hardware and retail, many of which are already trailing the broader market in 2025. XRT YTD mountain This retail ETF is underperforming the S & P 500 in 2025. "You see a preference for producers and strong selling of retailers ... You have producers who are passing on the price increases to retailers, and now it's up to retailers to pass those price increases on to the consumer," Seder said. Of course, just because the impact of tariffs may not be fully seen yet does not mean the stock market must re-test its lows from April. Ritholtz Wealth Management CEO Josh Brown said on Friday's " Halftime Report " on CNBC that the issues of some companies, such as struggling retailers, "pale in comparison" to the stronger parts of the market, like Big Tech. But with most trade routes operating under an ever changing and legally uncertain cloud, the summer just might present more challenges for the current bull market.
Bloomberg
5 days ago
- Business
- Bloomberg
Apollo Partners With Major US Banks to Trade Private Credit
By and Todd Gillespie Updated on Save Apollo Global Management Inc. is working with JPMorgan Chase & Co., Goldman Sachs Group Inc. and three other banks to trade private credit, partnering with Wall Street's largest firms to syndicate investment-grade debt on a broader scale. The banks act as broker-dealers, sometimes buying debt originated by Apollo and putting it on their own balance sheets and at other times brokering and pricing sales to third parties, according to people familiar with the matter. Citigroup Inc. is one bank in discussions to work with Apollo on the trading, according to a person familiar with the talks.
Reuters
6 days ago
- Business
- Reuters
BP's Castrol unit draws interest from Apollo, India's Reliance, Bloomberg News reports
May 28 (Reuters) - BP's (BP.L), opens new tab Castrol lubricants business is attracting interest from companies such as India's Reliance Industries ( opens new tab, Bloomberg News reported on Wednesday, citing people familiar with the matter. The business has also attracted interest from buyout firms Apollo Global Management (APO.N), opens new tab and Lone Star Funds, the report said, adding that a deal could fetch between $8 billion and $10 billion. BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management ( opens new tab and Stonepeak Partners, it added. BP and Apollo Global declined to comment, while Lone Star did not immediately respond to a Reuters request for comment. Reliance Industries did not immediately respond outside business hours in India. The bidders would join Saudi Aramco ( opens new tab in considering bids for all or part of the business. Reuters reported last week that BP is seeking buyers for its Castrol unit, citing sources.
Bloomberg
6 days ago
- Business
- Bloomberg
BP's Castrol Unit Draws Interest From Reliance, Apollo and Lone Star
By , Mitchell Ferman, Ruth David, and Swetha Gopinath Save BP Plc 's Castrol lubricant business is attracting interest from energy companies including Reliance Industries Ltd. and buyout firms such as Apollo Global Management and Lone Star Funds, according to people with knowledge of the matter. BP has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management and Stonepeak Partners, the people said, asking not to be identified because discussions are private. The business could fetch between $8 billion and $10 billion in a deal, the people said.
