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☆ Final Trades: Amazon, Natera and KKR & Co.
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Amazon, Natera and KKR & Co. The Investment Committee gives you their top stocks to watch for the second half.

Organizations: Natera, KKR, Co, Investment

☆ Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Southwest Airlines — The stock rose 9% after activist hedge fund Elliott Management amassed a $1.9 billion stake in Southwest Airlines. GameStop — The meme stock slipped nearly 15% in volatile trading after a roller-coaster week. Advanced Micro Devices — The chipmaker fell 3% after Morgan Stanley downgraded shares to equal weight from overweight, saying investors' expectations look elevated. ReNew Energy Global — Shares popped more than 7% after Morgan Stanley upped its price target, saying the narrative for the U.K.-based company remains strong. DraftKings — The sports entertainment stock gained 2% after Morgan Stanley renamed the company as a top pick.

Persons: Bob Jordan, Gary Kelly, Keith Gill, Huntington Bancshares, Huntington, Morgan Stanley, GoDaddy —, Dow, Robert Half, Jefferies, DraftKings, Yun Li, Alex Harring, Michelle Fox, Sarah Min, Pia Singh, Sean Conlon Organizations: Southwest Airlines, Management, Southwest, GameStop, KKR, CrowdStrike, GoDaddy — KKR, Dow Jones, Comerica, Apple, Energy, Jefferies Locations: 2H24, Illumina, Illinois

☆ Jim Cramer says buy Southwest on activist push — and his thoughts on 2 tech stock downgrades
▼ + stars: | 2024-06-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "Southwest Air is an underperformer for many, many years, but it does have a good balance sheet," Jim Cramer said. "I'm not so sure they're as high as people think," Cramer said. The CNBC Investing Club has long owned Nvidia , the dominant maker of AI chips. And yet if you look at the long term, Palo Alto has been very good," Cramer said.

Persons: Jim Cramer's, Elliott, Jim Cramer, Ben Reitzes, Cramer, you've, Morgan Stanley, Lisa Su's, GoDaddy, George Kurtz Organizations: CNBC, Club, Southwest Airlines, Elliott Management, Melius, Adobe, Devices, Nvidia, Walmart, JPMorgan, Costco, Investing Club, KKR, Palo Alto, Palo Alto Networks Locations: Texas, —, Palo Alto

☆ KKR Partner celebrates Pride Month
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKKR Partner celebrates Pride MonthKKR Partner Ken Mehlman says investing in diverse workforces leads to better performing companies.

Persons: Ken Mehlman Organizations: KKR, Pride

☆ Two major investor groups with $6 trillion at work agree these are good stocks, according to Goldman analysis
▼ + stars: | 2024-06-05 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hundreds of mutual funds and hedge funds overlap in their investments, creating some shared favorites between the two different investment vehicles, according to Goldman Sachs. This basket of stocks—which includes Danaher , Mastercard , Vertiv and Uber —are constituents of both Goldman's Hedge Fund VIP and Mutual Fund Overweight baskets. "Hedge funds and mutual funds have boosted exposures to equities this year, with hedge fund net leverage rising near its highest level over the past year and mutual fund cash balances dropping to record lows. Visa shares are up about 4.6% for the year, lifted by stronger-than-expected earnings in the fiscal second quarter. Both stocks have had a tough quarter, however, with Visa falling 2.4% since the end of March, while Mastercard shares have lost 7.6%.

Persons: Goldman Sachs, Vertiv, Uber, David Kostin, Kostin, Goldman, Alexander Blostein Organizations: Mastercard, VIP, Mutual Fund, FactSet, KKR, Visa, Tuesday's Locations: FRE

☆ With Paramount's long and winding sales process coming to an end, here's what comes next for the media giant
▼ + stars: | 2024-06-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe media giant, which owns Paramount Pictures and CBS, has been in the news as an acquisition target since late last year. Skydance might not be as recognizable a name, but the company's owner and CEO David Ellison is. It's "is Paramount big enough to survive on its own?" The rush to corner the market on data centers is a move by Big Tech to secure the keys to the coming AI kingdom. Big Tech, finance, and consulting jobs are becoming harder to come by, upending the job search for young people.

Persons: —, Donald Trump, Rebecca Zisser, Warner, David Zaslav, Byron Allen, David Ellison, Larry Ellison, he's, Phillip Faraone, Peter Kafka, That's, Larry Ellison's, Alyssa Powell, Savita Subramanian, Gary Shilling, Kitty, Keith Gill, Arif Qazi, Jason Zander, they'll, Apple's, Siri, Dominic Bugatto, that's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Paramount, Business, Paramount Pictures, CBS, RedBird Capital Partners, KKR, Warner Bros . Discovery, Sony, Hollywood, Getty, Tech, Bank of America, Wall Street, GameStop, Google, Microsoft, Big Tech, BI, Washington Post, Hewlett Packard Enterprise Locations: China, India, Texas, New York, London

The current leadership of Paramount Global presented a go-forward plan at the company's annual shareholder meeting Tuesday in the event a sale of the company doesn't happen. Redstone has been supportive of the Office of the CEO leadership team that has run the company since former CEO Bob Bakish stepped down in late April. The plan that Paramount Global shareholders are hearing on Tuesday will essentially serve as Redstone's alternate option if she chooses not to sell. "We'll be thoughtful with how we deploy capital, with our world-class content being the priority," said Robbins during the presentation Tuesday. On Tuesday, Robbins said the company has been "aggressively exploring all options" when it comes to partnerships with other streamers.

Persons: George Cheeks, Chris McCarthy, Brian Robbins —, —, David Ellison's, Shari Redstone, Bob Bakish, Robbins, Cheeks, McCarthy Organizations: Paramount, SAG, Paramount Global, CBS, Paramount Media Networks, Paramount Pictures, Media, RedBird Capital, KKR, CNBC, Amusements Locations: Los Angeles , California, U.S

☆ A Hollywood mega-merger for Paramount is going through: reports
▼ + stars: | 2024-06-03 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Paramount and Skydance have agreed to terms on a merger, according to multiple reports. The deal is valued at $8 billion, according to CNBC, but has yet to be signed by Shari Redstone. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter weeks of negotiations, a Paramount and Skydance merger is happening, according to reports in CNBC and Deadline. The deal has yet to be signed by Shari Redstone, who owns a controlling stake in Paramount, but will be formally unveiled in days, according to CNBC.

Persons: Skydance, Shari Redstone, David Ellison, —, Larry Ellison — Organizations: Paramount, CNBC, Service, RedBird Capital Partners, KKR, Business

☆ Paramount and Skydance agree to terms of a merger deal
▼ + stars: | 2024-06-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Paramount and Skydance have agreed to terms of a merger, CNBC's David Faber reported Monday. A Paramount special committee and the buying consortium — David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR — agreed to the terms. The deal currently calls for Redstone to receive $2 billion for National Amusements, Faber reported Monday. Following the close of the deal, Skydance and RedBird would own two-thirds of Paramount, and the class B shareholders would own the remaining third of the company, Faber reported. The deal will not require a vote from the shareholders, which was part of the negotiations, Faber reported.

Persons: Skydance, CNBC's David Faber, — David Ellison's Skydance, KKR —, Shari Redstone, Faber, RedBird, Paramount's, Bob Bakish, George Cheeks, Chris McCarthy, Brian Robbins Organizations: Paramount, Columbia, —, RedBird Capital, KKR, Amusements, Apollo Global Management, Sony Pictures, National Amusements, Wall Street, CNBC, Apollo, Sony, Redstone, CBS, Showtime, MTV Entertainment Studios, Paramount Media Networks, Paramount Pictures, Nickelodeon Locations: Hollywood , California

☆ How to Reverse America's Urban Doom Loop: Use Abandoned Steam Pipes
▼ + stars: | 2024-05-28 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

Instead, it's drawing a feed of blistering, high-pressure, vaporized water from a century-old loop of steam pipes that runs beneath the city's streets. Like dozens of cities, New York has a loop of steam pipes under its streets that could help reverse the urban doom loop. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesIn July, Vicinity is installing what will be the nation's first zero-carbon urban steam loop. AdvertisementThe most convincing evidence that steam loops make economic sense comes from who's getting into the district-energy game. Meaning: Can we use steam loops to fix the urban doom loop before the climate doom loop dooms us all?

Persons: I've, Nobody, Francisco, Kevin Hagerty, Lindsey Nicholson, Blake Ellis, Burns, McDonnell, Tim Danz, it's, Danz, Hagerty, Decarbonizing, COVID, Costa Samaras, They'll, Adam Rogers Organizations: California, Vicinity Energy, Getty, Cal, Antin Infrastructure Partners, KKR, Scott Institute for Energy, Innovation, Carnegie Mellon, Business Locations: Francisco, California, New York City, Boston, Washington, New York, England, Chicago, Miami, San Diego, Portland, Milwaukee

The Haley rationale for backing TrumpAfter months of speculation, Nikki Haley said — in her first appearance since dropping out of the Republican presidential primary — that she would vote for Donald Trump, the man against whom she waged a sometimes scathing campaign. But it may provide cover to prominent donors like Ken Griffin who in recent weeks has suggested that he might come in from the cold and donate to Trump. Deep-pocketed Republicans flocked to Haley during the primary. “I think she is just what we need right now,” Langone said on Fox News. “What Trump put this country through the last three months of his presidency was disgraceful.”But donors are rethinking their aversion to Trump, who handily beat Haley and other rivals and is now leading President Biden in some polls.

Persons: Haley, Nikki Haley, —, Donald Trump, Ken Griffin, Griffin, Paul Singer, Henry Kravis, Barry Sternlicht, Cliff Asness, Stanley Druckenmiller, Ken Langone, Reid Hoffman, wasn’t Trump, Nikki, ” Sternlicht, ” Langone, Trump, Biden, White, Israel Organizations: Trump, Republican, PAC, Elliott Management, KKR, Starwood Capital, AQR Capital Management, Democratic, LinkedIn, Times, Fox News Locations: Gaza

☆ Corporate America is going through a middle-management meltdown
▼ + stars: | 2024-05-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Middle managers are becoming an endangered species in Corporate America, with some companies viewing the role as obsolete , writes Business Insider's Lindsay Dodgson. Remote work, tech efficiencies, and a general push to cut costs have contributed to middle managers' demise. It's a strategy Corporate America, particularly Big Tech, deployed in 2023. The "year of efficiency," as Mark Zuckerberg dubbed it, was all about flattening organizations, and middle managers were the ones getting squished . The death of middle managers could also fuel the current dismantling of another cohort: the middle class .

Persons: —, Brooks Kraft, Insider's Lindsay Dodgson, millennials, Gen Zers haven't, Robyn Phelps, they're, Mark Zuckerberg, Gen, Jeffrey Gundlach, we're, Blackstone, Abanti Chowdhury, Jensen Huang, Hopper, Blackwell, Lilit, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Brooks Kraft LLC, Getty, America, Big Tech, Citi, Street Journal, KKR, Meta, Google, Nvidia, Paragon Intel, National Association of Realtors, FAA Locations: Corporate America, millennials, New York, London

☆ Blackstone is set to give workers a stake in the companies it buys
▼ + stars: | 2024-05-22 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Blackstone is set to grant shares to workers at the businesses it buys, The Wall Street Journal reported. It's set to award stock to employees at Copeland, which it bought last year for $14 billion. Other private equity giants including KKR and Apollo also offer equity to portfolio companies' staff. AdvertisementBlackstone is set to start granting stock to its portfolio companies' employees, The Wall Street Journal reported. The private equity giant's plans to give equity to workers at most of the large US-based businesses it buys are expected to be announced at a conference this week.

Persons: Blackstone, It's, — Organizations: Street Journal, KKR, Apollo, Service, Emerson Electric, Business Locations: Copeland

☆ KKR's Henry McVey: We are seeing a surge in productivity, and it's not AI-driven
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKKR's Henry McVey: We are seeing a surge in productivity, and it's not AI-drivenHenry McVey, KKR's balance sheet CIO, joins 'Squawk Box' to discuss why the Federal Reserve won't cut rates this year, whether the equity market can hang on to gains, and more.

Persons: KKR's Henry McVey, Henry McVey

☆ Watch CNBC's full interview with KKR's Henry McVey
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with KKR's Henry McVeyHenry McVey, KKR's balance sheet CIO, joins 'Squawk Box' to discuss why the Federal Reserve won't cut rates this year, whether the equity market can hang on to gains, and more.

Persons: KKR's Henry McVey Henry McVey

☆ Why the biggest real estate funds still struggle
▼ + stars: | 2024-05-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Read previewBlackstone, the world's largest landlord, contends the worst is over for commercial real estate. In the first quarter, shareholders in Blackstone Real Estate Income Trust, or BREIT, its $59 billion flagship real estate investment fund, pulled out almost a billion dollars a month on average, according to the company's first-quarter earnings statement. A similar investment fund operated by Barry Sternlicht's Starwood Capital has had an even greater retreat by investors. Share pricing is determined through appraisals of the value of the underlying real estate holdings. In May, Blackstone Real Estate Partners X also completed the $3.5 billion acquisition of Tricon Residential, an owner of single family rental homes.

Persons: —, Barry Sternlicht's, Kevin Gannon, BREIT, reinvigorating, anemic, REITs, Jonathan Gray, Blackstone Heidi Gutman, NBCUniversal, Jon Gray, they're, Gray, outperformance, redemptions, Blackstone, Gannon, They're, Sternlicht, Todd Henderson, REIT, Henderson, It'll Organizations: Service, Investors, Income Trust, Business, Barry Sternlicht's Starwood Capital, Starwood Real, Blackstone, Starwood, KKR, Apollo, Federal Reserve, Communities, Blackstone Real Estate Partners, Tricon Locations: Blackstone, Brookfield, BREIT, Tricon, Nashville, DWS

☆ David Petraeus discusses barriers to Saudi-Israel normalization
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe biggest barrier to Saudi-Israel normalization is an 'intractable' one, says former CIA directorDavid Petraeus, partner and chairman of KKR Global Institute and a former CIA director, says "that's a solid path, a solid commitment to a two-state solution from Israel."

Persons: David Petraeus Organizations: KKR Global Institute, CIA Locations: Saudi, Israel

☆ 'Biggest barrier' to Saudi-Israeli normalization is the two-state solution, says ex-CIA director
▼ + stars: | 2024-05-16 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A two-state solution to the Israel-Palestinian conflict is "elusive" right now, according to former CIA director David Petraeus, adding that it is also the "single biggest barrier" to normalizing relations between Israel and Saudi Arabia. "A solid path, a solid commitment to a two-state solution from Israel" is the biggest hurdle to Israel and Saudi's normalization plans, Petraeus, who is now chairman at KKR Global Institute, told CNBC's Dan Murphy. However, there have been discrete but growing cooperation between them in recent years, raising hopes for a normalization agreement. Palestinian militant group Hamas infiltrated Israel, killing more than 1,200 people and kidnapping dozens more. More than 35,000 people have been killed in the Palestinian enclave so far, according to the health ministry there which is run by Hamas.

Persons: David Petraeus, Petraeus, CNBC's Dan Murphy, Joe Biden's Organizations: KKR Global Institute, Hamas Locations: Israel, Saudi Arabia, CNBC's Dan Murphy . Saudi Arabia, Palestinian

☆ Changes are coming to the S&P 500 and Wall Street speculates these stocks could be added
▼ + stars: | 2024-05-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

These stocks could be poised to join the S & P 500 when the broad index undergoes its quarterly rebalance next month, according to some Wall Street analysts. Keefe Bruyette & Woods also views a financial services stock as a likely addition to the S & P 500, citing the sector's underweight position. There's a "mid to high probability" that Erie resettles in the S & P 500. The S & P 500 isn't the only index poised for potential changes. Gandhi sees a strong likelihood that Ryan Specialty Holdings joins the S & P Midcap 400, while New York Community Bancorp could drop down to the S & P SmallCap 600 .

Persons: Ramsey El, Bancorporation, Assal, Keefe, Woods, Shreyank Gandhi, Gandhi, Dell Organizations: Barclays, Micro Computer, Whirlpool, Software, Services, KKR, Apollo Global Management, Erie resettles, Specialty Holdings, New, New York Community Bancorp, Axis Capital Holdings, BOK Locations: Erie, New York

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Lightning Round: Astera Labs is too high, says Jim Cramer
▼ + stars: | 2024-05-08 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Astera Labs is too high, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Cloudflare, Cognex, KKR, Ecolab, Astera Labs and Qualcomm.

Persons: Jim Cramer Organizations: Cognex, KKR, Ecolab, Astera Labs, Qualcomm

☆ HD Hyundai Marine Solution doubles in South Korea's largest IPO since January 2022
▼ + stars: | 2024-05-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Employees of HD Hyundai Marine Solution Co., during the company's listing ceremony at the Korea Exchange in Seoul, South Korea, on Wednesday, May 8, 2024. Shares of maintenance and repair firm HD Hyundai Marine Solution spiked nearly 50% in their trading debut Wednesday, marking a strong start to South Korea's largest IPO since January 2022. Shares traded as high as 166,100 South Korean won ($121.59) apiece, representing a 99.1% surge from the IPO price of 83,400 won. The ship-repair unit of South Korea's largest shipping conglomerate HD Hyundai Group sold 8.9 million shares in the initial public offering. The IPO totaled 742.26 billion won, valuing the newly public unit around 3.71 trillion won at the offering price.

Organizations: Korea Exchange, Hyundai, South Korean, Street, KKR Locations: Korea, Seoul, South Korea, South

Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. The consortium has been waiting for word from Paramount's special committee on whether the panel will recommend its bid to acquire the company to Redstone. Spokespeople for Skydance, Redstone's National Amusements and Paramount's special committee declined to comment on Friday. Previously, Redstone rejected an offer by Apollo in favor of exclusive talks with Skydance. Redstone has preferred a deal that would keep Paramount together, as Skydance's offer would, CNBC previously reported.

Persons: Shari Redstone, David Ellison's Skydance, CNBC's David Faber, Ellison, Spokespeople Organizations: Paramount Global, Allen, Co . Media, Technology Conference, Skydance, Apollo Global Management, Sony Pictures, RedBird Capital, KKR, Paramount, Apollo, Sony, CNBC, Redstone Locations: Sun Valley , Idaho

☆ Talent war between family offices and Wall Street drives up salaries
▼ + stars: | 2024-05-03 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

"There's a real war for talent within family offices," said William Sinclair, U.S. head of J.P. Morgan Private Bank's Family Office Practice. According to the report, which surveyed 190 family offices with average assets of $1.4 billion, family offices that manage less than $500 million spend an average of $1.5 million a year for operating costs. Family offices between $500 million and $1 billion spend an average of $2.7 million, and those above $1 billion average $6.1 million. The biggest cost is staffing, which has become more expensive as family offices have tripled in number over the past five years. "If you look back 15 years ago, family offices were where people went to retire and have work-life balance," he said.

Persons: Robert Frank, William Sinclair, Morgan, We've, Trish Botoff, Botoff, Carlyle, Paul Westall, Westall, that's Organizations: Morgan Private Bank Global, Botoff Consulting, KKR, Blackstone, Agreus Locations: U.S

Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.

Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo

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