L'intérêt à découvert pour Apollo Global Management donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de Apollo Global Management. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

Apollo Global Management (NYSE:APO) Stock, Rapport sur les intérêts à découvert

Apollo Global Management

Apollo Global Management Inc is an alternative investment manager. It serves various sectors such as chemicals, manufacturing and industrial, natural resources, consumer and retail, consumer services, business services, financial services, leisure, and media and telecom and technology. The company operates in three business segments that are Asset Management, Retirement Services, and Principal Investing. It generates maximum revenue from the Retirement Services segment.

Apollo Global Management, Inc. (New) Common Stock

Apollo Global Management Inc

APOLLO ACQUISITION CORPORATION

Apogee Enterprises Inc

APOLLO MINERALS LTD by APOLLO MINERALS LTD.

Apollo Minerals Ltd

Apollo Global Management, Inc. 7.625% Fixed-Rate Resettable Junior Subordinated Notes due 2053

APOLLO GLOBAL MANAGEMENT ORD

Apollo Global Management, Inc. 6.75% Series A Mandatory Convertible Preferred Stock

Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) has inked an exclusive agreement with&nbsp;Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) to establish a $25 billion <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41046246/citi-and-apollo-announce-25-billion-private-credit-direct-lending-program" rel="noreferrer noopener">private credit and direct lending program</a>.
The program will start in North America, potentially expanding to other regions.
The strategic program aims to enhance access for corporate and sponsor clients to the private lending capital pool, ensuring funding certainty for strategic transactions.
By combining Citi&#8217;s banking expertise with Apollo&#8217;s capital base, the program is expected to finance approximately $25 billion in debt opportunities over the next few years.
Both firms anticipate strong client demand and have the flexibility to expand the program beyond this initial amount.
The program will involve participation from Mubadala Investment Company as Apollo&#8217;s strategic partner, along with Apollo&#8217;s subsidiary, Athene, both of which will have the opportunity to make commitments aligned with their respective mandates.
Apollo Co-President Jim Zelter said, &#8220;We are pleased to form a first-of-its-kind, scaled direct lending program with Citi, a preeminent banking partner and leader in capital markets and advisory.&#8221;
&#8221;Our collaboration will allow Citi to enhance its client offerings and bring more private solutions to bear, while enabling Apollo to increase origination flow and tap into Citi&#8217;s extensive client relationships.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40985205/citigroups-china-plans-delayed-by-us-regulatory-issues-report" rel="noreferrer noopener">Citigroup&#8217;s China Plans Delayed by US Regulatory Issues: Report</a>
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Series Portfolios Trust InfraCap Equity Income Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICAP#NYSE">ICAP</a>).
Price Action: C shares are up 2.03% at $61.61 at the last check Thursday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40840173/bgc-group-to-trade-futures-on-new-exchange-ceo-lutnick-is-jazzed-jazzed-jazzed" target="_blank" rel="noreferrer noopener">BGC Group To Trade Futures On New Exchange: CEO Lutnick Is &#8216;Jazzed, Jazzed, Jazzed&#8217;</a></li>
</ul>

Equities

Large Cap

News

FTXO

ICAP

Citigroup, Apollo Partner For $25B Private Credit Program, Expanding Corporate Lending Access

<a href="https://www.ft.com/content/6d32e665-8bd0-4d1c-b41d-d810c45922b1" title="https://www.ft.com/content/6d32e665-8bd0-4d1c-b41d-d810c45922b1">https://www.ft.com/content/6d32e665-8bd0-4d1c-b41d-d810c45922b1</a>

Contracts

'Citigroup Strikes $25B Deal With Apollo To Launch Private Credit Venture' - Financial Times

In the relentless battle for dominance in the semiconductor world, Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) present <a href="https://www.benzinga.com/topic/semiconductors">a compelling contrast.</a>
Intel is fighting to regain its footing, while AMD continues to ride the wave of AI-driven momentum. But which stock is the better bet right now?
<h2 class="wp-block-heading">Intel: Qualcomm Takeover Talks, Apollo&#8217;s $5 Billion Vote Of Confidence</h2>
Intel has faced a harsh market reality, with its stock plunging 33.48% in the past year and 52.28% year to date. 
Yet, behind this sharp decline, Apollo Global Management Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) potential $5 billion investment in the chipmaker signals a possible turnaround for the company. 
However, nothing is set in stone, and talks remain fluid. Intel's broader narrative has also caught the attention of Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), which is exploring an acquisition—a deal that could shake up the entire sector.
Intel&#8217;s stock shows mixed signals. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25065809/Screenshot-2024-09-25-at-4.27.27-PM.png" alt="" class="wp-image-565144" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25065809/Screenshot-2024-09-25-at-4.27.27-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25065809/Screenshot-2024-09-25-at-4.27.27-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Despite recent buying pressure, its price of $22.81 hovers above its eight- and 20-day simple moving averages, giving bullish indicators. However, it&#8217;s under the 50- and 200-day averages, marking a longer-term bearish trend. 
Analysts have a wide <a href="https://www.benzinga.com/report/INTC">price target range</a> of $17 to $42, reflecting uncertainty about Intel's recovery prospects, though the average target of $29.50 suggests potential upside.
Read Also: <a href="https://www.benzinga.com/news/24/09/41011763/whats-going-on-with-intel-stock">What&#8217;s Going On With Intel Stock?</a>
<h2 class="wp-block-heading">AMD: Jim Cramer Flags Concerns Despite AI Surge</h2>
On the flip side, AMD stock surged 62.58% over the past year and is up 14.24% year to date, largely driven by its competitive stance in AI, second only to Nvidia Corp.
Despite its positive momentum in data centers, gaming, and EPYC server processors, Jim Cramer recently <a href="https://www.insidermonkey.com/blog/jim-cramer-on-advanced-micro-devices-inc-amd-somethings-wrong-here-1359313/">pointed</a> out that, &#8220;After a roller coaster year, AMD, one of our favorite chipmakers and a core holding in my travel trust, is basically flat for 2024&#8230; something's wrong here.&#8221;
The stock is down $50 from its spring peak, raising questions about whether the exuberance surrounding AI has cooled off.
Yet, technically, AMD&#8217;s stock remains strong. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25070441/Screenshot-2024-09-25-at-4.27.41-PM.png" alt="" class="wp-image-565163" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25070441/Screenshot-2024-09-25-at-4.27.41-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25070441/Screenshot-2024-09-25-at-4.27.41-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Its share price of $158.33 is above all key moving averages (eight, 20, 50-day), signaling a bullish trend. However, the stock trades below its 200-day SMA, prompting some caution. 
Analysts estimate a <a href="https://www.benzinga.com/report/AMD">price target range</a> of $156 to $250, with an average of $203, reflecting bullish sentiment for AMD's future, particularly as AI continues to dominate headlines.
<h2 class="wp-block-heading">The Verdict</h2>
For investors looking for a high-risk, high-reward play, Intel's potential deals with Apollo and Qualcomm offer a speculative bet on a turnaround. 
On the other hand, AMD&#8217;s strong fundamentals and AI-driven growth make it the more stable choice, though recent stock volatility should not be ignored.
In this showdown, Intel represents a bet on a comeback, while AMD remains a powerhouse in AI with some near-term questions.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40989221/stock-of-the-day-why-qualcomm-stock-remains-stuck-in-a-range-as-speculation-of-intel-tak">Stock Of The Day: Why Qualcomm Stock Remains Stuck In A Range As Speculation Of Intel Takeover Grows</a></li>
</ul>
Photo: Shutterstock

Technicals

Tech

Trading Ideas

INTC

QCOM

Intel Vs. AMD: Which Chipmaker Has The Edge In Race Against Nvidia's Supremacy?

Wolfe Research analyst Steven Chubak initiates coverage on Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) with a Outperform rating and announces Price Target of $139.

Price Target

Initiation

Analyst Ratings

Wolfe Research Initiates Coverage On Apollo Global Management with Outperform Rating, Announces Price Target of $139

Investors with a lot of money to spend have taken a bearish stance on Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with APO, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for Apollo Global Management.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $114,190, and 7 are calls, for a total amount of $2,226,510.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $77.5 to $140.0 for Apollo Global Management over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Apollo Global Management's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Apollo Global Management's significant trades, within a strike price range of $77.5 to $140.0, over the past month.
<h3>Apollo Global Management Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727200848_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$5.9</td>
<td>$5.5</td>
<td>$5.8</td>
<td>$140.00</td>
<td>$1.1M</td>
<td>1.1K</td>
<td>3.5K</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$5.9</td>
<td>$5.6</td>
<td>$5.8</td>
<td>$140.00</td>
<td>$870.0K</td>
<td>1.1K</td>
<td>1.5K</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$5.8</td>
<td>$5.5</td>
<td>$5.8</td>
<td>$140.00</td>
<td>$81.2K</td>
<td>1.1K</td>
<td>2.1K</td>
</tr>
<tr>
<td>APO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.25</td>
<td>$2.15</td>
<td>$2.25</td>
<td>$122.00</td>
<td>$74.4K</td>
<td>0</td>
<td>331</td>
</tr>
<tr>
<td>APO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.35</td>
<td>$2.15</td>
<td>$2.35</td>
<td>$122.00</td>
<td>$39.7K</td>
<td>0</td>
<td>500</td>
</tr>
</tbody>
</table>

<h3>About Apollo Global Management</h3>
Apollo Global Management Inc is an alternative investment manager. It serves various sectors such as chemicals, manufacturing and industrial, natural resources, consumer and retail, consumer services, business services, financial services, leisure, and media and telecom and technology. The company operates in three business segments that are Asset Management, Retirement Services, and Principal Investing. It generates maximum revenue from the Retirement Services segment.
Following our analysis of the options activities associated with Apollo Global Management, we pivot to a closer look at the company's own performance.
<h3>Where Is Apollo Global Management Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 1,772,666, with APO's price down by -0.14%, positioned at $125.06.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 36 days.</li>
</ul>
<h3>Professional Analyst Ratings for Apollo Global Management</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $142.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Wells Fargo lowers its rating to Overweight with a new price target of $132. 
&#x2A; An analyst from Redburn Atlantic has revised its rating downward to Buy, adjusting the price target to $153. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Apollo Global Management options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Behind the Scenes of Apollo Global Management's Latest Options Trends

Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">is reportedly considering a buyout</a> of Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), a move that could significantly diversify Qualcomm&#8217;s product offering. However, analysts are warning of potential challenges that could hinder the success of this acquisition.
What Happened: Qualcomm&#8217;s interest in acquiring Intel has been met with skepticism from analysts, <a href="https://www.businessinsider.com/qualcomm-considers-intel-buyout-analysts-see-major-hurdles-2024-9">reported</a> Business Insider. The potential deal, which could help Qualcomm expand, is seen as a risky move due to Intel&#8217;s struggling semiconductor manufacturing unit.
Intel&#8217;s shares have plummeted approximately 77% from their 52-week high, making the company an attractive target not just for Qualcomm but also for Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), which reportedly proposed to make an equity-like investment <a href="https://www.benzinga.com/markets/equities/24/09/40973740/intel-has-a-new-knight-in-shining-armor-after-qualcomm-apollo-global-management-reportedly-propo">of up to $5 billion in the company</a>.
However, Stacy Rasgon, a prominent chip analyst from Bernstein, expressed skepticism about the potential deal. &#8220;We would prefer that Qualcomm not pursue this as it seems very risky to us given uncertain returns,&#8221; Rasgon and his team wrote.
Qualcomm aims to diversify its revenue streams by entering the PC and data center markets, which Intel dominates. However, Intel&#8217;s semiconductor factories, or fabs, pose significant challenges. Rasgon noted that Intel has struggled to manage its fabs, allowing competitors like TSMC to gain an edge.
Rasgon also highlighted the political importance of Intel&#8217;s U.S.-based fabs in Arizona, Oregon, and New Mexico. He speculated that Qualcomm might sell these fabs if the acquisition goes through, but questioned whether Intel is desperate enough to consider such a move.
&#8220;Is Intel desperate enough to seriously consider something like this? We&#8217;re not so sure,&#8221; Rasgon and his team concluded.
Why It Matters: The potential acquisition of Intel by Qualcomm could face significant hurdles, according to analysts. The deal could reportedly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40981806/qualcomms-potential-intel-buyout-could-face-antitrust-hurdles-analysts-reveal-intri">encounter rigorous antitrust scrutiny</a> globally, given that it would merge two major chip firms. This could create a giant with significant market shares in smartphones, PCs, and servers.
Benchmark analyst Cody Acree said the <a href="https://www.benzinga.com/m-a/24/09/40983591/qualcomm-takeover-of-intel-is-logically-unlikely-in-face-of-regulatory-challenges-analyst-says">acquisition is &#8220;logically unlikely.</a>&#8221; According to Acree, Qualcomm would need to offer a compelling 40% to 50% premium over the current trading price of around $22 for shareholders to take the deal seriously. However, the regulatory scrutiny surrounding the transaction may be too difficult to overcome.
Meanwhile, Intel has been facing its own challenges, with CEO Pat Gelsinger presenting a <a href="https://www.benzinga.com/markets/equities/24/09/40673694/intel-ceo-pat-gelsinger-to-present-board-with-major-asset-sale-and-cost-cutting-plan-including-h">comprehensive plan to the board</a> in September. The plan focuses on asset sales and cost reductions, including halting a $32 billion project in Germany. 
If the Qualcomm-Intel deal goes through, it could result in one of the largest M&amp;A deals ever, surpassing Microsoft Corporation&#8217;s <a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion" target="_blank" rel="noreferrer noopener">$69 billion acquisition</a> of Activision Blizzard.
Price Action: Intel&#8217;s shares closed 3.3% higher on Monday at $22.56, while Qualcomm&#8217;s shares closed 1.75% lower at $165.96, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Image via Shutterstock

General

Intel, Which Cratered Around 77% From Its 52-Week Peak, Finds A New Knight In Shining Armor As Qualcomm And Apollo Propose Buyout Deal, But This Analyst Thinks It Doesn't Make Sense: 'It Seems Very Risky To Us Given Uncertain Returns'

Qualcomm Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares are experiencing a decline Monday after reports surfaced about the company&#8217;s interest in acquiring Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). Here&#8217;s <a href="https://www.benzinga.com/m-a/24/09/40983591/qualcomm-takeover-of-intel-is-logically-unlikely-in-face-of-regulatory-challenges-analyst-says">what you need to know</a>.
What To Know: The news highlights Qualcomm&#8217;s potential strategic move to bolster its product line and diversify its business through a multi-billion dollar acquisition of Intel. At the same time, Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) has proposed a significant investment in Intel.
The Qualcomm-Intel deal, if it materializes, would mark one of the largest mergers in the semiconductor industry, potentially surpassing Microsoft&#8217;s $69 billion acquisition of Activision Blizzard. However, analysts have raised concerns about the financial and regulatory hurdles Qualcomm could face.
Recap:
<ol>
<li>Qualcomm&#8217;s Potential Acquisition of Intel: Reports indicate that Qualcomm, led by CEO Cristiano Amon, is considering acquiring Intel as part of its broader efforts to diversify. The deal would involve merging two of the world's major chipmakers, impacting sectors such as smartphones, PCs and servers. However, industry analysts believe that Qualcomm will face significant antitrust scrutiny, especially given the size and scale of both companies. </li>
<li>Apollo Global's $5 Billion Investment Offer: Separately, Apollo Global Management has proposed a $5 billion investment in Intel. Apollo and Intel already have a working relationship after Apollo's $11 billion deal earlier this year to acquire a stake in an Intel venture in Ireland. </li>
<li>Intel's Struggles and Recent Developments: Intel has been facing one of its most challenging periods in decades, with its market value dropping below $100 billion. The company reported dismal second-quarter earnings, which saw an 84% drop compared to the previous year. </li>
</ol>
QCOM Price Action: Qualcomm&#8217;s shares dropped by 1.37%, currently trading at $166.61 according to<a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2"> Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23134819/QCOM-1024x545.png" alt="" class="wp-image-561675" style="width:519px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23134819/QCOM-1024x545.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23134819/QCOM-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23134819/QCOM-768x408.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23134819/QCOM.png 1102w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40987452/assembly-biosciences-investigational-herpes-treatment-shows-antiviral-efficacy-safety-in-healthy-">Assembly Biosciences&#8217; Investigational Herpes Treatment Shows Antiviral Efficacy, Safety In Healthy Participants</a></li>
</ul>
Image Via Shutterstock.

Movers

Why Are QCOM Shares Moving Today?

Don&#8217;t expect Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) to buy Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Benchmark <a href="https://www.benzinga.com/topic/semiconductors">analyst Cody Acree says</a>.
Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) intends to make a <a href="https://www.benzinga.com/markets/equities/24/09/40973740/intel-has-a-new-knight-in-shining-armor-after-qualcomm-apollo-global-management-reportedly-propo">$5-billion investment</a> in Intel. This development occurred after the Wall Street Journal <a href="https://www.wsj.com/business/deals/qualcomm-approached-intel-about-a-takeover-in-recent-days-fa114f9d">reported</a> that Qualcomm was interested in acquiring Intel outright — a deal Acree says &#8220;was particularly thin on specific details.&#8221;
Benchmark analysts &#8220;believe Qualcomm's ultimate acquisition of Intel is logically unlikely,&#8221; Acree says. 
In addition to Qualcomm facing a &#8220;steep financial hurdle,&#8221; such an acquisition would also invite a &#8220;high degree of regulatory scrutiny,&#8221; Acree wrote in an analyst note Monday.
Benchmark understands Qualcomm's &#8220;attraction to the possibility of a combination of at least a portion of Intel,&#8221; Acree says. Intel&#8217;s chip design business, with its focus on the PC/notebook and server markets, is attractive, he adds.
Qualcomm would need to offer an attractive 40% to 50% premium to its current trading price of around $22 for shareholders to take the deal seriously, but the regulatory spotlight put on the transaction may be too intense to overcome, according to Acree.
Breakup fees would likely be $2 billion if the deal fell through.
<a href="https://www.benzinga.com/news/16/10/8609063/qualcomm-to-buy-nxp-semiconductors-for-110-per-share-in-cash">Qualcomm abandoned an attempt </a>to buy NXP Semiconductors in 2018. It cost the company $2 billion after China&#8217;s state regulator rejected the proposal.
Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/m-a/24/02/37155712/nvidia-bolsters-ai-leadership-with-investment-in-arm-holdings-eyes-future-growth-in-semiconductor-in">failed effort to take over</a> Arm Holdings came with a $1.25 billion breakup fee after regulators in U.S., Europe and China blocked that deal.
Acree also said that Intel has had major design challenges over the past few years that have cost it market share to AMD in both personal computers and servers, and it lacks a competitive edge in artificial intelligence strategy.
&#8220;Ultimately, we're not convinced that Qualcomm will make a firm bid for Intel,&#8221; he says.
Acree reiterated a Hold rating on Intel, a Buy rating on Qualcomm and reiterated a $240 price target for Qualcomm.
Price Action: Intel rose 1.65% to $22.20 in Monday&#8217;s early-morning trading, while Qualcomm slipped 0.17% to $168.63.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/government/24/09/40981096/taiwan-semiconductor-denies-uae-investment-rumors-report">Taiwan Semiconductor Denies UAE Investment Rumors</a></li>
</ul>
Image: Shutterstock

NVDA

Qualcomm Takeover Of Intel Is 'Logically Unlikely' In Face Of Regulatory Challenges, Analyst Says

Financial giants have made a conspicuous bullish move on Apollo Global Management. Our analysis of options history for Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) revealed 11 unusual trades.
Delving into the details, we found 63% of traders were bullish, while 18% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $320,042, and 9 were calls, valued at $2,669,497.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $135.0 for Apollo Global Management over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Apollo Global Management's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Apollo Global Management's whale trades within a strike price range from $110.0 to $135.0 in the last 30 days. 
<h3>Apollo Global Management Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727101881_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.6</td>
<td>$9.8</td>
<td>$10.1</td>
<td>$125.00</td>
<td>$505.0K</td>
<td>8.3K</td>
<td>2.0K</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$10.4</td>
<td>$10.0</td>
<td>$10.1</td>
<td>$125.00</td>
<td>$505.0K</td>
<td>8.3K</td>
<td>1.5K</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.0</td>
<td>$9.8</td>
<td>$10.0</td>
<td>$125.00</td>
<td>$500.0K</td>
<td>8.3K</td>
<td>520</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$7.8</td>
<td>$7.4</td>
<td>$7.42</td>
<td>$135.00</td>
<td>$398.6K</td>
<td>1.0K</td>
<td>811</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.4</td>
<td>$10.1</td>
<td>$10.1</td>
<td>$125.00</td>
<td>$378.7K</td>
<td>8.3K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About Apollo Global Management</h3>
Apollo Global Management Inc is an alternative investment manager. It serves various sectors such as chemicals, manufacturing and industrial, natural resources, consumer and retail, consumer services, business services, financial services, leisure, and media and telecom and technology. The company operates in three business segments that are Asset Management, Retirement Services, and Principal Investing. It generates maximum revenue from the Retirement Services segment.
Having examined the options trading patterns of Apollo Global Management, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Apollo Global Management Standing Right Now?</h3>
<ul>
<li>With a volume of 794,454, the price of APO is up 1.47% at $126.31. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 37 days.</li>
</ul>
<h3>Expert Opinions on Apollo Global Management</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $142.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Wells Fargo downgraded its rating to Overweight, setting a price target of $132. 
&#x2A; In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Buy, setting a price target of $153. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Apollo Global Management with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Market Whales and Their Recent Bets on APO Options

Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) saw a 2.38% increase in its pre-market trading on Monday, following reports of a potential multi-billion dollar investments from Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) and a <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">takeover interest from</a> Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
What Happened: Apollo, a U.S.-based asset management firm, is considering an equity-like investment of up to $5 billion in Intel, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-22/apollo-is-said-to-offer-multibillion-dollar-investment-in-intel">reported</a> on Sunday, citing an anonymous source. This news arrives at a time when Intel, once the world&#8217;s most valuable chipmaker, has seen its shares plummet by nearly 60% since the beginning of the year.
At the time of writing, Intel was trading at $22.36 while it closed at $21.84 on Friday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Despite Intel&#8217;s current vulnerability, the company is reportedly reviewing Apollo&#8217;s proposal. However, the talks are still in their early stages and have not been finalized. The size of the potential investment and the likelihood of a deal are both subject to change.
Earlier in the year, Apollo announced a separate $11 billion deal to acquire a 49% equity stake in a joint venture connected to Intel&#8217;s new manufacturing facility in Ireland.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40951546/big-short-fame-investor-drops-previous-prediction-of-trump-victory-the-market-is-going-straight-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Big Short&#8217; Fame Investor Drops Previous Prediction Of Trump Victory: &#8216;The Market Is Going Straight Down&#8217;</a>
Meanwhile, Qualcomm has also reportedly expressed interest in Intel, with CEO Cristiano Amon personally leading discussions for a potential acquisition. 
Apollo was up by 0.23% while Qualcomm was slightly lower at 0.25% during Monday pre-market. 
Why It Matters: Intel&#8217;s stock has been on a rollercoaster ride this year. The company reported a significant decrease in its <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">second-quarter earnings</a>, leading to a drop in its shares. This was followed by Apollo&#8217;s $5 billion investment offer, which has sparked a new wave of interest in the company.
Qualcomm&#8217;s potential acquisition of Intel, amid the latter&#8217;s <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">60% stock decline</a>, has also been a major point of discussion in the industry.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40973101/bitcoin-ethereum-rise-dogecoin-slips-as-market-reacts-to-harris-crypto-mention-analyst-bel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slips As Market Reacts To Harris&#8217; Crypto Mention: Analyst Believes It&#8217;ll Be &#8216;Game Over&#8217; For Bears If King Crypto Breaches $64K</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Tada Images/Shutterstock.com

WIIM

Pre-Market Outlook

Intel's Stock Gains In Pre-Market Trading Following Reports Of Qualcomm's And Apollo's Investment Offer

Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) has reportedly been considering a multibillion-dollar investment in Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
What Happened: Apollo has proposed to make an equity-like investment of up to $5 billion in Intel, <a href="https://www.bloomberg.com/news/articles/2024-09-22/apollo-is-said-to-offer-multibillion-dollar-investment-in-intel?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
As per the sources, Intel&#8217;s executives are currently evaluating Apollo&#8217;s proposal.&nbsp;
The size of the investment could change and there are also some chances that the discussions could fall through.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40949356/mobileye-soars-after-intel-says-it-will-not-sell-majority-stake">Mobileye Soars After Intel Says It Will Not Sell Majority Stake</a>
Apollo and Intel already have a business relationship.
Earlier this year in June, Intel agreed to sell a stake in a joint venture controlling a plant in Ireland to Apollo for $11 billion.
Why It Matters: This development occurred after it was reported that Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) was <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">planning to acquire Intel</a>.
If the Qualcomm-Intel deal goes through, it could result in one of the largest M&amp;A deals ever, surpassing Microsoft Corporation's <a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion">$69 billion acquisition</a> of Activision Blizzard.
Intel's <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">second-quarter earnings</a> reflected an 84.62% decline from the same period last year. The company reported quarterly earnings of 2 cents per share, which fell significantly short of the analyst consensus estimate of 10 cents.
In August it was reported that a prominent board member at Intel, Lip-Bu Tan resigned from his position following a dispute with CEO Pat Gelsinger and other directors.
This raised concerns about the company's direction.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/insights/options/24/09/40924119/looking-at-intels-recent-unusual-options-activity">Looking At Intel&#8217;s Recent Unusual Options Activity</a></li>
</ul>

Media

Intel Has A New Knight In Shining Armor? After Qualcomm, Apollo Global Management Reportedly Proposes Multibillion-Dollar Investment

Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) has outperformed the market over the past 10 years by 6.87% on an annualized basis producing an average annual return of 18.08%. Currently, Apollo Global Management has a market capitalization of $70.17 billion. 
Buying $1000 In APO: If an investor had bought $1000 of APO stock 10 years ago, it would be worth $5,251.92 today based on a price of $123.21 for APO at the time of writing.
<h3>Apollo Global Management's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726851693_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Apollo Global Management 10 Years Ago Would Be Worth This Much Today

Apollo's ATLAS SP And BNP Paribas Announce $5B Strategic Collaboration

ALLY

ARES

BBVA

CRBG

LPLA

UPST

Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

Financial giants have made a conspicuous bullish move on Apollo Global Management. Our analysis of options history for Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) revealed 21 unusual trades.
Delving into the details, we found 52% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $286,600, and 19 were calls, valued at $906,845.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $145.0 for Apollo Global Management over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Apollo Global Management's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Apollo Global Management's substantial trades, within a strike price spectrum from $100.0 to $145.0 over the preceding 30 days.
<h3>Apollo Global Management Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726595163_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.0</td>
<td>$2.85</td>
<td>$3.0</td>
<td>$115.00</td>
<td>$225.0K</td>
<td>245</td>
<td>750</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$9.0</td>
<td>$8.8</td>
<td>$9.0</td>
<td>$130.00</td>
<td>$190.8K</td>
<td>4.2K</td>
<td>213</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.7</td>
<td>$4.5</td>
<td>$4.63</td>
<td>$130.00</td>
<td>$64.2K</td>
<td>8.6K</td>
<td>296</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.6</td>
<td>$4.5</td>
<td>$4.55</td>
<td>$130.00</td>
<td>$62.3K</td>
<td>8.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>APO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.7</td>
<td>$4.5</td>
<td>$4.69</td>
<td>$130.00</td>
<td>$61.9K</td>
<td>8.6K</td>
<td>588</td>
</tr>
</tbody>
</table>

<h3>About Apollo Global Management</h3>
Apollo Global Management Inc is an alternative investment manager. It serves various sectors such as chemicals, manufacturing and industrial, natural resources, consumer and retail, consumer services, business services, financial services, leisure, and media and telecom and technology. The company operates in three business segments that are Asset Management, Retirement Services, and Principal Investing. It generates maximum revenue from the Retirement Services segment.
After a thorough review of the options trading surrounding Apollo Global Management, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Apollo Global Management</h3>
<ul>
<li>With a volume of 1,230,828, the price of APO is up 0.56% at $117.81. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 43 days.</li>
</ul>
<h3>What Analysts Are Saying About Apollo Global Management</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $136.66666666666666.
<ul>
<li>Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Apollo Global Management, targeting a price of $125. </li>
<li>In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Buy, setting a price target of $153. </li>
<li>In a cautious move, an analyst from Wells Fargo downgraded its rating to Overweight, setting a price target of $132. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Apollo Global Management with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

This Is What Whales Are Betting On Apollo Global Management

Apartment Investment and Management Company ("Aimco") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIV#NYSE">AIV</a>) today announced it has secured $56 million of preferred equity from leading investment firm Sixth Street for the development of a luxury water-front rental development, located at 560-640 NE 34th Street in Miami, Florida. Affiliates of Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) provided $172 million of senior construction financing to support the development. Aimco will serve as the developer and asset manager.&nbsp;
The 38-story tower, adjacent to Aimco's recently completed redevelopment of The Hamilton, will include 114 luxury rental units, a highly tailored amenity package and ~7k square feet of ground floor retail space. The rental units will average more than 2,500 square feet, feature 9' – 10' foot ceilings, oversized private terraces, top-of-the-line finishes, and unobstructed views of Biscayne Bay.

Financing

Apartment Investment And Management Company Announces It Has Secured $56M Of Preferred Equity From Leading Investment Firm Sixth Street For The Development Of A Luxury Water-Front Rental Development In Miami, Florida. Affiliates Of Apollo Provided $172M Of Senior Construction Financing To Support The Development. Aimco Will Serve As The Developer And Asset Manager.

Apollo Global Management shares are trading higher after announcing BP will sell its $1 billion stake in the Trans Adriatic Pipeline to the company.

Bausch + Lomb Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) is reportedly considering a sale as it navigates separation issues from its parent company, Bausch Health Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>).
The potential sale is part of efforts to address concerns from creditors like Apollo Global Management Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) following disputes over the separation.
The Bausch + Lomb spin-off was part of Bausch Health&#8217;s plan to alleviate its $21 billion debt, a third of which is due by 2027.
The parent company retained an 88% stake after listing Bausch + Lomb in 2022 but struggled to execute the full separation due to concerns about <a target="_blank" href="https://www.benzinga.com/news/24/07/39941406/why-bausch-health-shares-are-falling-today" rel="noreferrer noopener">solvency after the split</a>.
The world&#8217;s largest contact lens supplier, valued at over $10 billion, has sought advice from Goldman Sachs to explore interest from private equity firms.
In the second quarter of 2024, the eye health company reported sales of $1.22 billion, up 17% year over year, beating the consensus of $1.17 billion.
The company reported adjusted EPS of $0.13, beating the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.12</a>.
The Financial Times <a target="_blank" href="https://www.ft.com/content/5272ebe0-146c-484c-8ae3-6fb6edc71fbb" rel="noreferrer noopener">report</a> adds that Bausch + Lomb stock could increase its sale price if a deal moves forward.
For 2024, the company expects sales of $4.7 billion—$4.8 billion higher than the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40063515/bausch-lomb-announces-second-quarter-2024-results" rel="noreferrer noopener">consensus of $4.66 billion</a>. The report adds that nearly 60% of its revenue will come from its contact lens and eye drug divisions.
Creditors, including Elliott Management and GoldenTree Asset Management, voiced their opposition, worried about the spin-off&#8217;s impact on Bausch Health&#8217;s financial stability.
Bausch Health&#8217;s top shareholders, including Carl Icahn and John Paulson&#8217;s Paulson &amp; Co., had supported the spin-off, seeing potential benefits in owning a larger share of the more profitable eye care subsidiary.
The parent company&#8217;s financial troubles are further compounded by the uncertainty surrounding its lead drug, Xifaxan, which will lose <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40138719/bausch-health-solvency-remains-a-concerns-analyst-downgrades-stock" rel="noreferrer noopener">patent protection by 2029</a>.
Bausch Health is promoting RED-C, which is in late-stage development, to prevent a first episode of hepatic encephalopathy (HE).
However, since Xifaxan is already approved to prevent HE recurrence, it is anticipated that Xifaxan generics may be used off-label for the initial prevention of HE if RED-C gets approved.
YTD, the Bausch Health stock has fallen 13.2% while BLCO has gained 4.2%.
Price Action: BLCO stock is trading higher by 14.40% to $17.80 at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40882346/caci-agrees-to-acquire-azure-summit-for-1-275b-boosting-defense-capabilities" target="_blank" rel="noreferrer noopener">CACI Agrees To Acquire Azure Summit For $1.275B, Boosting Defense Capabilities</a>.</li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by JHVEPhoto via Shutterstock

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BLCO

Contact Lens Supplier Bausch + Lomb Eyes Sale Amid Separation Challenges As Parent Bausch Health Faces Debt Issues

BP p.l.c.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) inked a deal under which Apollo Global Management, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) managed funds will acquire a non-controlling stake in BP Pipelines TAP Limited for around <a target="_blank" href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/apollo-partners-with-bp-in-trans-adriatic-pipeline.html?utm_source=PC%26C%20%7C%20C%26EA%20%7C%20External%20%7C%20Global%20%7C%20bp.com%20news&amp;utm_medium=email&amp;utm_campaign=14662044_Apollo%20partners%20with%20bp%20in%20Trans%20Adriatic%20Pipeline&amp;dm_i=1PGC,8Q9B0,5D8AP6,109NZK,1" rel="noreferrer noopener">$1</a> billion.
The bp subsidiary, bp Pipelines TAP Limited, holds a 20% share in Trans Adriatic Pipeline AG (TAP). Trans Adriatic Pipeline AG runs a key 880-kilometer segment of the Southern Gas Corridor, transporting gas from BP&#8217;s Shah Deniz field to Europe.
BP and Apollo will also explore additional investments in gas and low-carbon energy. The transaction will help BP meet its 2024 divestment goal of $2 billion &#8211; $3 billion and is expected to close in the fourth quarter of 2024, pending regulatory and partner approvals. Post-deal closure, BP will retain its position as the controlling shareholder of bp Pipelines TAP.
William Lin, bp EVP gas and low carbon energy said, &#8220;We are very pleased to come together with Apollo on this key piece of Europe&#8217;s energy infrastructure. Importantly, while bringing in a new investor, this does not diminish bp&#8217;s role in a strategic asset for our Azerbaijan gas business. We see great potential in building innovative arrangements such as this and look forward to continuing to explore further opportunities with Apollo through growing this collaborative relationship.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40810769/transocean-pockets-232m-drillship-contract-for-deepwater-atlas-details" rel="noreferrer noopener">Transocean Pockets $232M Drillship Contract For Deepwater Atlas: Details</a>
Skardon Baker, Apollo Partner said, &#8220;We are pleased to partner with bp on an agreement that will provide our investors with long-term exposure to an industry-leading infrastructure asset with a stable cash flow profile, while allowing bp to meet its objectives of retaining control and executing on its capital efficiency strategy.&#8221;
Investors can gain exposure to the stock via&nbsp;Direxion Hydrogen ETF&nbsp;(ARCA:&nbsp;HJEN)&nbsp;and&nbsp;First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA:&nbsp;EIPX).
Price Action: BP shares are up 0.79% at $32.09 premarket at the last check Monday.
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Asset Sales

BP Sells Stake In Gas Pipeline To Apollo, Raises $1B

bp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>, LSE: BP.L)) and Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) today announce an agreement for Apollo-managed funds (the "Apollo Funds") to purchase a non-controlling stake in bp Pipelines TAP Limited, the bp subsidiary that holds a 20% share in Trans Adriatic Pipeline AG (TAP) in a transaction valued at approximately $1 billion. Upon completion, bp will remain the controlling shareholder of bp Pipelines TAP Limited.
Trans Adriatic Pipeline AG is the owner and operator of a key infrastructure asset for meeting European energy demand - the final 880-kilometre leg of the Southern Gas Corridor pipeline system that transports natural gas from the bp-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy.&nbsp;&nbsp;
bp and Apollo will also look to partner on additional investment opportunities, including potential co-operation in both gas and low carbon energy assets, and infrastructure.&nbsp; &nbsp;
William Lin, bp EVP gas and low carbon energy: "We are very pleased to come together with Apollo on this key piece of Europe's energy infrastructure. Importantly, while bringing in a new investor, this does not diminish bp's role in a strategic asset for our Azerbaijan gas business. We see great potential in building innovative arrangements such as this and look forward to continuing to explore further opportunities with Apollo through growing this collaborative relationship."
Skardon Baker, Apollo Partner: "We are pleased to partner with bp on an agreement that can provide our investors with long-term exposure to an industry-leading infrastructure asset with a stable cash flow profile, while allowing bp to meet its objectives of retaining control and executing on its capital efficiency strategy."
Leslie Mapondera, Apollo Partner: "This innovative transaction structure is indicative of the types of bespoke solutions we can provide at Apollo, and we believe we are ideally positioned to execute on additional strategic transactions with bp. Together, we see more potential opportunities, as we look to leverage Apollo's long-term capital and sustainability &amp; infrastructure investment expertise to partner with bp on its strategic plans, including energy transition opportunities."
The proceeds from the transaction will contribute to bp's 2024 divestment and other proceeds target of $2-3 billion, part of the company's disciplined financial frame. The transaction is expected to close in 4Q 2024, subject to customary regulatory and partner approvals required.

BP Sells $1B Stake in Trans Adriatic Pipeline to Apollo, Retains Control, Eyes Future Gas and Low-Carbon Projects

Apollo's possible $5B investment likely not enough to solve Intel's issues

Intel Stock: Time To Double Down

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Barclays analyst Benjamin Budish maintained a Buy rating on Apollo Global Management (APO – Research Report) today and set a price target of $128.0...

Barclays Reaffirms Their Buy Rating on Apollo Global Management (APO)

Catalyst Watch: Tesla deliveries, Nike earnings, port strike threat and the jobs report

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TD Cowen analyst William Katz maintained a Buy rating on Apollo Global Management (APO – Research Report) today and set a price target of $135.00. ...

TD Cowen Reaffirms Their Buy Rating on Apollo Global Management (APO)

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Press Releases

The Future of IR: How To Harness the Power of AI

Apollo Funds Acquire Freedom CNG, a Leading Provider of Renewable Natural Gas Fueling Infrastructure

Doral Renewables LLC Announces Closing of $400 Million Equity Investment from APG

Real Estate

Aimco Partners with Sixth Street to Advance Its Next Luxury Rental Development

Apollo's ATLAS SP and BNP Paribas Announce $5 Billion Strategic Collaboration

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Make a Splash: 4 Product Launch Press Release Examples

GlobeNewswire Unveils Powerful Reporting Enhancements to Elevate Communications Strategy and Maximize Results

Gannett Commences Exchange Offer and Consent Solicitation

Citi and Apollo Announce $25 Billion Private Credit, Direct Lending Program

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