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☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Bank of America thinks these stocks are prime candidates to join the S&P 500, and could outperform
▼ + stars: | 2024-02-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Woodard noted that changes to the S & P 500 typically occur following a period of strong growth. The S & P 500 has gained more than 24% in the past year and has climbed more than 4% from the start of 2024. There are two main criteria for adding a stock to the S & P 500, the strategist said. Here's a look at some of the stocks Bank of America thinks are in contention for entry to the S & P 500. Bank of America analyst Craig Siegenthaler thinks the stock could be added to the S & P 500 as soon as mid-March following the index's planned rebalance.

Persons: they've, Jared Woodard, Stocks, Woodard, FactSet, Palantir, Craig Siegenthaler Organizations: Bank of America, Bank of, Walgreens Boots Alliance, Dow Jones Industrial, Amazon, Palantir Technologies, KKR

☆ These stocks are a way for regular investors to buy the private credit boom, Morgan Stanley says
▼ + stars: | 2024-02-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Private credit firms can help companies raise money more quickly and with more flexibility than traditional lenders. Many everyday investors can't buy into big private credit funds, but they can get exposure to the space through the stocks of some of the biggest private lenders. Hamilton still sees upside in buying private credit firms, especially one stock. "Our credit and insurance teams had a remarkable year in 2023, with gross returns of 16.4% in the private credit strategies and 13% in liquid credit. There are also private credit firms that trade outside of the U.S., for investors who are able to buy stocks in foreign markets.

Persons: Matthew Bass, Morgan Stanley, Bruce Hamilton, Hamilton, Blackstone, Jonathan Gray, Morgan Stanley's Organizations: Federal Reserve, Companies, Apollo Global Management, APO, KKR, Intermediate Capital Group Locations: Preqin, U.S

☆ Family offices are going on the offensive, trading cash for alternative assets
▼ + stars: | 2024-02-16 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

KKR's family office survey of 75 chief investment officers around the world found that family offices had 52% of their portfolios invested in alternative investments in 2023, up from 42% in 2022. Family offices also have a special advantage in the current market, since banks and more traditional lenders are pulling back on loans to companies. Family offices plan to continue to move capital from cash and stocks into alternatives this year, according to the survey. The report said family offices are concentrating on data centers, logistics and warehouses "that capture the important post-pandemic investment themes." Another sector family offices like right now: oil and gas, in both private and public markets.

Persons: Robert Frank Organizations: KKR, CNBC PRO

☆ The biggest winners and losers from the new sports streaming service
▼ + stars: | 2024-02-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ESPN, Warner Bros., and Fox announced plans this week for a new sports streaming service set to launch this fall . That could put an end to cable TV as we know it , Nathan McAlone, Business Insider's deputy media editor, writes. Ashley Rodriguez, BI's media editor, has a breakdown of the six biggest questions about this new sports streamer . Games on YouTubeTV, for example, are noticeably delayed compared to cable TV broadcasts .

Persons: —, Katie Notopoulos, David Jensen, Nathan McAlone, it's, Ashley Rodriguez, Peter Kafka, BI's, Peter, Nathan, Ashley —, We've, Ashley, Fox, Rick Wilking, Reuters Leon Cooperman, Marc Rubinstein, Yi Huiman, Xi Jinping, Jordan Hart, It's, Justin Metz, Blackstone, Bob Iger, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ESPN, Warner Bros, Fox, ESPN2, ABC, FOX, Peter : Media, Nathan, Warner Bros ., NFL, Cable, Comcast, Paramount, Reuters, Signature Bank, New York Community Bancorp, Securities, Commission, that's, Apple Vision, Microsoft, BI, of Foreign Labor, Apollo, KKR, Bain Capital, Disney, Epic Games, ConocoPhillips, US Locations: New, China, Beijing, New York, London

☆ Tim Cook, Steve Ballmer and Jamie Dimon are among the few US billionaires who didn't found a company or inherit a fortune
▼ + stars: | 2024-02-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewVirtually all of America's billionaires either founded a wildly successful company or inherited a vast fortune. Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon, and former Microsoft CEO Steve Ballmer are among the few exceptions. Ballmer leads the pack with an estimated fortune of $143 billion, according to the Bloomberg Billionaires Index largely due to his near-4% stake in Microsoft. AdvertisementRemarkably, Ballmer ranks sixth on the Bloomberg list, just one spot and $3 billion behind the Microsoft cofounder. Other industry stalwarts include Meta's former operating chief, Sheryl Sandberg ($2 billion), and former eBay CEO Meg Whitman ($3 billion).

Persons: —, Tim Cook, Jamie Dimon, Steve Ballmer, Forbes, Bill Gates, Ballmer, Eric Schmidt, Charles Simonyi, Jeff Rothschild, Jeff Skoll, Sheryl Sandberg, Meg Whitman, Justin Sullivan, Snowflake, Frank Slootman, Apple's Cook, Safra Catz, Lisa Su, Ramzi Musallam, JPMorgan's, Goldman Sachs, Lloyd Blankfein, Tor Peterson, Paul Saville, homebuilder Organizations: Service, Apple, JPMorgan, Business, Bloomberg, Microsoft, Facebook, eBay, Getty Images Tech, Forbes, Oracle, AMD, Veritas Capital, Blackstone, KKR Locations: Silver

☆ Big insurance companies want more private credit. Here's how Blackstone is using AI to win them over.
▼ + stars: | 2024-02-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Insurance companies represent a big opportunity for private equity firms, who invest with the accumulated premiums paid by millions of everyday Americans. It's not just insurance clients that benefit from AI to bring more transparency to the cloudy private credit market. With private credit, insurance firms can invest in a more diversified set of assets with greater yield (and, albeit risk) than public credit markets, like vanilla corporate bonds. And because insurance companies often have long-term horizons with their financial obligations to policyholders, they can invest in less-liquid asset classes, like private credit. But to win more insurance clients, Blackstone must compete with the likes of Apollo Global Management, Carlyle, and KKR, which have also been keen on insurance.

Persons: Blackstone, John Stecher, it's, Stecher, Gilles Dellaert, Carlyle, that's, Jon Gray, Gray Organizations: Blackstone, —, Business, Insurance, Blackstone Insurance, Apollo Global Management, KKR Locations: BXCI

☆ Private-equity salaries revealed: How much Blackstone, Apollo, KKR, and Bain Capital employees earn at all levels
▼ + stars: | 2024-02-07 | by ( Alex Nicoll | Emmalyse Brownstein | ) www.businessinsider.com time to read: +1 min

Bain Capital, Blackstone, and KKR are among the largest private-equity firms in the world. Here are the base salaries for analysts, associates, managing directors at 9 private-equity firms. Today, that phrase might be best applied to the dealmakers who run the $12 trillion world of private equity . Consider: In 2022, private-equity firms made up 40% of total M&A activity. This story is available exclusively to Business Insider subscribers.

Persons: Tom Wolfe, Blackstone Organizations: Bain Capital, Blackstone, KKR, Business

☆ These stocks could be next to join the S&P 500, increasing demand for shares, says Bank of America
▼ + stars: | 2024-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A slew of companies are primed to join the S & P 500 in the near future, and Bank of America thinks their shares could get a boost from it. The bank expects KKR could be the next investment management firm to join the S & P 500 over the six months following the addition of Blackstone to the index last year. An addition to the S & P 500 is likely to drive up the prices of each of the stocks. "Passive ETFs benchmarked to the S & P 500 are growing and getting inflows which will help support the share prices of the stocks in the index," Siegenthaler added. For KKR, the analyst has a $109 price objective, implying 23% upside from Monday's close.

Persons: Blackstone, Craig Siegenthaler, Siegenthaler Organizations: Bank of America, KKR, Apollo Global Management, Ares Management, APO

☆ Harvard taps ex-Merck CEO Ken Frazier to join embattled board
▼ + stars: | 2024-02-05 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Former Merck CEO Ken Frazier and KKR co-CEO Joseph Bae are joining Harvard University’s top board as the Ivy League school seeks to turn the page on a tumultuous period. Harvard announced the changes on Sunday evening, saying Frazier will start Wednesday to fill the open seat on the Harvard Corporation, the powerful yet secretive board under fire its handling of the recent controversies. Frazier, who graduated Harvard Law School in 1978, served as CEO of Merck and sat on the board of ExxonMobil, is widely respected in the business community. In 2017, Frazier quit former President Donald Trump’s manufacturing council in response to Trump’s initial failure to condemn white supremacists. Bae graduated from Harvard in 1994 and today he’s one of the most powerful private equity executives in the world.

Persons: Ken Frazier, Joseph Bae, Frazier, Bae, Paul Finnegan, Claudine Gay, ”, Alan Garber, Penny Pritzker, ” Harvard, Pritzker, megadonor, Gay, Donald Trump’s, Catalyst, Garber Organizations: New, New York CNN, Merck, KKR, Harvard University’s, Ivy League, Harvard, Harvard Corporation, Corporation, Democratic Party, Harvard Law School, ExxonMobil Locations: New York, Asia

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Battle-tested bull: S&P 500 plows through obstacle course of worries to new high
▼ + stars: | 2024-02-03 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500' s latest run to a record high last week took it through an obstacle course of macroeconomic and company-specific hazards. Stocks are not at all cheap, with the S & P 500 at 20-times year-ahead earnings, which probably will mute multi-year returns. The median S & P 500 stock is flat year to date, is up 13% over the past three months, has gained 30% off its 52-week low and is within 8% of its 52-week high. On Friday, even as a majority of stocks fell with the S & P 500 gaining 1%, there were 175 NYSE new 52-week highs compared to 54 new lows. Here are the equal-weighted industrial and consumer-discretionary sectors compared to the equal-weight S & P 5600 since just after the bear-market low in October 2022.

Persons: Stocks, Craig Johnson, Piper Sandler, it's, Steve Deppe, Jobs, Jerome Powell, Friday's, Henry McVey, KKR's, Keith Lerner Organizations: Treasury, Wealth Management, Meta, Microsoft, Truist, Equity Locations: Meta, handicapping

NEW YORK (AP) — One of the world’s largest and most influential publishers, Simon & Schuster, celebrates its 100th anniversary this year. The list tells many stories, through the books selected, not selected, and the evolution of what has been highlighted. “A group of Simon & Schuster staffers took on the daunting challenge of selecting 100 titles from our history that are believed to best represent the breadth and depth of the company’s publishing program, across imprints,” the publisher announced Wednesday. “That book actually had an influence on the course of events.”Like many leading publishers, Simon & Schuster began as an independently owned company and vastly expanded after the 1960s. Along the way, Simon & Schuster acquired numerous other publishers, whose books are now part of the S&S catalog and its centennial list.

Persons: Simon & Schuster, Simon, Gregory Hartswick, Prosper Buranelli, Margaret Petherbridge, Richard Simon, Max Schuster, ”, Schuster, Jonathan Karp, Sloan, veteran’s, Karp, “, — Ralph Ellison, Maya Angelou, Richard Wright, Harper, James Baldwin, Alex Haley, Langston Hughes, Toni Morrison, ” Karp, Ntozake Shange’s, Jenny Han’s “, ” Carlos Eire’s “, ” Siddhartha Mukherjee's “, ” Jason Reynolds ’, Safiya, Wendy Sherwin, didn’t, John Irving, Bruce Springsteen’s, Doris Kearns Goodwin’s Pulitzer, Franklin, Eleanor Roosevelt, Abraham Lincoln, Barack Obama, Rivals ’, Barack Obama’s, Hillary Clinton, Scott Fitzgerald’s “, ” Ernest Hemingway’s “, Alan Paton’s “, Scribner, Judy Blume’s “, Margaret ”, Walter Isaacson’s “ Steve Jobs, Frederick Backman's, Ove, Dale Carnegie’s, Leon Shimkin, David McCullough's, Wright, Blume, Woodward Organizations: Simon &, New York, HarperCollins, Dial Press, Doubleday, Knopf, “, Rivals, KKR, Win, Carnegie Locations: ”, Snow, Havana

☆ These are the 7 healthcare startups primed to IPO when the market reopens
▼ + stars: | 2024-01-29 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +2 min

Only one digital health startup went public in the US in 2022 — digital therapeutics company Akili Interactive, whose shares have since crashed a whopping 97%, per MarketWatch. Not a single healthcare startup went public last year. ArriVent Biopharma went public a few days later, bringing in $175 million. AdvertisementIndustry experts remain skeptical about whether the public markets will be ready for a successful healthcare IPO this year. Business Insider has identified seven startups that could be considering an IPO as the markets reopen, based on conversations with top VCs and bankers and public filings.

Persons: —, Metagenomi, ArriVent Biopharma Organizations: Service, Business, Akili Interactive, Alto Neuroscience, Oncology, BrightSpring Health Services, KKR, Walgreens, Industry

☆ Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit
▼ + stars: | 2024-01-28 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

In 2018, Anna-Lisa Miller was working with agricultural cooperatives in Hawaii, helping them reinvest in their communities through shared ownership. Then she came across an investor presentation from a different universe: KKR, one of the world’s largest private equity firms. In it, a KKR executive, Pete Stavros, discussed a model he had been developing to provide employees with an equity stake in companies it purchased, so the workers would reap some benefits if it was flipped for a profit. By that time, Mr. Stavros had decided to start an organization to promote his model more broadly, hoping to reach the 12 million people who work for companies that private equity firms own. Ms. Miller saw it as a way to move much faster.

Persons: Anna, Lisa Miller, Miller, Pete Stavros, Stavros Organizations: Project Equity, KKR, KKR doesn’t Locations: Hawaii

☆ David Ellison's Skydance Media explores acquiring all of Paramount Global, sources say
▼ + stars: | 2024-01-24 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

David Ellison's Skydance Media and its financial backers are exploring a deal to take private all of Paramount Global , people familiar with the matter told CNBC. It is unclear if Redstone would demand a different premium for selling National Amusements than the remaining shareholders of Paramount Global would obtain. Skydance isn't interested in a deal where it would only acquire National Amusements but not all of Paramount, said the people. Spokespeople for RedBird, Skydance, Paramount Global and National Amusements declined to comment. Discovery has also had preliminary discussions about acquiring Paramount Global, according to people familiar with the matter.

Persons: Shari Redstone, David Ellison's, Ellison, hasn't, Skydance, Larry Ellison, Skydance hasn't, Skydance isn't, Puck Organizations: National Amusements, CBS, Viacom, Media, Paramount Global, CNBC, Skydance, Paramount, RedBird Capital Partners, KKR, Netflix, YouTube, Apple, Oracle, MTV, VH1, Comedy Central, Nickelodeon, National, Warner Bros, Redstone, Discovery, Comcast, Street, Amusements, Bloomberg Locations: Laguna Beach , California, U.S

☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
▼ + stars: | 2024-01-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The small-cap Russell 2000 has dropped close to 4% against a fractional gain in the S & P 500 year to date. In broad terms, the S & P 500 could retreat to 4600 or so – about 4% down from here – and still be in a routine technical check-back to its latest launch point in early December. Todd Sohn of Strategas notes that the Invesco S & P 500 Equal Weight ETF (RSP) saw inflows go vertical last year to $13.5 billion, 30% above its prior 12-month record. Betting on 'peacetime' Fed cuts Right or wrong, the market debate right now can never get far before turning into a Fed-policy-path discussion. Last week's CPI and PPI data added to the market's collective conviction that inflation's downside momentum is strong, opening the way for "peacetime" Fed rate cuts.

Persons: that's, Russell, Ned Davis, Tim Hayes, Tony Pasquariello, Goldman Sachs, Henry McVey, KKR's, McVey, Morgan Stanley, Todd Sohn, Strategas, they're, Jerome Powell Organizations: Ned Davis Research, Goldman, Nasdaq, Apple, CPI, PPI Locations: U.S

☆ Binance might be peak for U.S. crypto enforcement cases, says CFTC official
▼ + stars: | 2023-12-05 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Representations of cryptocurrencies are seen in front of displayed Binance logo in this illustration taken November 10, 2022. U.S. regulators have brought several cases against crypto firms such as Binance, helping to establish "guardrails" to bring "order and structure" to the market, CFTC Commissioner Kristin Johnson told an FT crypto and digital assets summit. She urged crypto firms to study the Binance settlement to see what sort of governance regulators look for at crypto firms. The CFTC will also be "deeply thoughtful" on requiring better disclosures at crypto firms that are vertically integrated, combining different activities under one roof. In the meantime, crypto firms are setting up shop in Britain to build an ecosystem that can service the rest of the world and benefit from "nuanced" regulators, Quintenz said.

Persons: Dado Ruvic, Kristin Johnson, Johnson, Brian Quintenz, Quintenz, Xiao, Xiao Zhu, Huw Jones, Mark Potter Organizations: REUTERS, Futures Trading Commission, Treasury Department, Justice Department, European Union, CFTC, KKR, Thomson Locations: U.S, Binance's, Britain

☆ Private-asset binge exposes insurance to new risks
▼ + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com time to read: +7 min

The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.

Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London

☆ KKR to buy remaining stake in insurer Global Atlantic for $2.7 billion
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - KKR & Co (KKR.N) said on Wednesday it would buy a remaining 37% stake in Global Atlantic Financial Group that it does not already own for $2.7 billion in an all-cash deal. Private equity firm KKR has served as the manager of Global Atlantic's investment portfolio since 2021 and said in July 2020 that it would buy the annuities and life insurance provider. Global Atlantic's assets under management have grown to $158 billion from $72 billion in 2020, the companies said. Under the terms of the deal, KKR will pay Global Atlantic's minority shareholders an amount in cash equal to Global Atlantic's book value, with certain adjustments. Global Atlantic serves policyholders through its retirement and life insurance products.

Persons: Brendan McDermid, Joe Bae, Scott Nuttall, Goldman Sachs, Noor Zainab Hussain, Devika Organizations: KKR, New York Stock Exchange, REUTERS, Co, Global Atlantic Financial Group, Global, Global Atlantic, Thomson Locations: New York, U.S, Bengaluru, Chibuike

Bernstein named Taiwan Semiconductor a "best idea" for 2024, raising its price target on the stock. — Alex Harring 7:01 a.m. In addition to the best-pick honor, analyst Steve Scala has an outperform rating and $86 price target. Analyst Michael Lavery downgraded the stock to neutral from overweight and slashed his price target by $40 to $200. ET: Morgan Stanley hikes PDD price target, calls stock a top pick following earnings Morgan Stanley named Chinese e-commerce name PDD Holdings a top pick following its latest quarterly earnings report.

Persons: Bernstein, Morgan Stanley, LSEG, Bank of America's Tal Liani, Morgan Stanley's Hamza Fodderwala, Alex Harring, Craig Siegenthaler, Blackstone, That's, — Alex Harring, Ken Hoexter, Hoexter, TD Cowen, Steve Scala, Scala, Jefferies, John Colantuoni, bode, Colantuoni, Neil Beveridge, Josh Silverstein, Silverstein, JMP, Baldwin, Mitch Germain, Germain doesn't, Germain, Piper Sandler, Michael Lavery, Lavery, elasticities, HSY's, Hershey, Eddy Wang, Wang, Mark Li, Li, — Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Holdings, Wall, Bank of America, Bank of America's, KKR, Apollo Global Management, Pacific, Transport, AstraZeneca, pharma, Airbnb, Toyota, UBS, Exxon Mobil, Natural Resources, Exxon Mobil's, Hershey, PDD, U.S, LSEG, Commerce, PDD's U.S, Apple, Huawei Locations: Tuesday's, Ivory Coast, Ghana, 4Q23, Taiwan, China

ROME, Nov 21 (Reuters) - Italy is considering candidates to take the helm of state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters, as part of a wider shake-up of state-controlled companies. State-backed investor CDP, founded 173 years ago, plays a key role in keeping strategic assets in national hands. Asked to comment on a change of CEO at CDP, Meloni's office said any rumours of a replacement for Scannapieco were unfounded. Rome is expected to decide on the top management of CDP in March at the latest, immediately after the approval of this year's CDP financial accounts, the sources said. The state lender invests savings made by Italians through the national post office network Poste Italiane.

Persons: Dario Scannapieco, Fincantieri, Giorgia, Scannapieco, Antonino Turicchi, Stefano Donnarumma, Mario Draghi, Elvira Pollina, Susan Fenton Organizations: Eni, ITA Airways, European Investment Bank, Telecom Italia's, Thomson Locations: Italy, State, Rome, EU, Milan

Electric power transmission pylon miniatures and Iberdrola logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 17 (Reuters) - Spanish utility Iberdrola is planning to make an offer for Electricity North West (ENWL) that could value the British power distribution network at a maximum of 3.5 billion pounds ($4.34 billion), two sources familiar with the matter said. Iberdrola (IBE.MC) declined to comment on any involvement in the ENWL sale process, which one of the people, who spoke on condition of anonymity, said is expected to start in December. Iberdrola is ramping up its investments in electricity networks, aiming to deploy 27 billion euros until 2025, with the goal of achieving 30% growth in core earnings of its networks unit to up to 8.5 billion euros. Iberdrola expects to receive around 6 billion euros from partnerships and asset sales by the end of the year that will help it close 2023 with a net debt of around 43 billion euros, roughly in line with 2022.

Persons: Dado Ruvic, Jefferies, KKR spokespeople, JP Morgan, Andres Gonzalez, Pietro Lombardi, Anousha Sakoui, Alexander Smith Organizations: REUTERS, Electricity, Reuters, Japan's Kansai Electric Power Co, Macquarie, KKR, ENWL, Scottish Power, Colonial First State, Iberdrola, Thomson Locations: Manchester , Lancashire, Cumbria, Iberdrola, ENWL, Merseyside , Cheshire, North Wales, North Shropshire, England, Central, Southern Scotland

☆ KKR's Paula Campbell talks her private equity investing playbook
▼ + stars: | 2023-11-16 | 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 EmailKKR's Paula Campbell talks her private equity investing playbookPaula Campbell Roberts, KKR chief investment strategist for global wealth, joins 'Closing Bell Overtime' to discuss why the 60/40 portfolio isn't working in today's market.

Persons: KKR's Paula Campbell, playbook Paula Campbell Roberts Organizations: KKR

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