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Apollo Global Management, Inc. (APO)

NYSE - NYSE Delayed Price. Currency in USD
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38.89-1.30 (-3.23%)
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Commodity Channel Index

Commodity Channel Index

Previous Close40.19
Open39.35
Bid39.02 x 800
Ask39.03 x 800
Day's Range38.48 - 39.59
52 Week Range19.46 - 55.39
Volume1,446,091
Avg. Volume1,386,123
Market Cap8.91B
Beta (5Y Monthly)1.52
PE Ratio (TTM)N/A
EPS (TTM)-0.41
Earnings DateOct 29, 2020
Forward Dividend & Yield1.96 (4.88%)
Ex-Dividend DateAug 17, 2020
1y Target Est52.71
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Bloomberg

    Leon Black’s Epstein Ties Set to Dominate Apollo Earnings Call

    (Bloomberg) -- Apollo Global Management Inc. investors will want to hear about more than just earnings when the firm reports its latest results on Thursday morning.They’ll also expect answers about how Apollo plans to handle the growing fallout from co-founder Leon Black’s ties to convicted sex offender Jeffrey Epstein, and whether it’s hurting fundraising efforts. Apollo is seeking money for real estate, distressed credit and infrastructure funds, and recently launched an impact-investing platform.Fresh scrutiny on the Black-Epstein relationship comes at a time when the firm should be in a strong position to invest, with businesses struggling and credit markets in turmoil. But last week, major consultants expressed reservations about giving new money to Apollo and two public pensions said they were halting investments.The comments represent one of the biggest threats to Black’s fundraising bona fides in decades, and suggest just how damaging the issue could be for the asset manager. Apollo hired law firm Dechert LLP to conduct a review that’s expected to take 60 to 90 days, according to people familiar with the matter.“If there is not a quick resolution to the issue, there could be increased problems with fundraising, especially with public-sector pensions that are sensitive to issues like this,” said Kelly DePonte, a managing director at Probitas Partners, which helps raise money for private equity funds.The recent reticence among investors marks a stark departure from earlier this year, when Apollo executives set a fundraising goal of $20 billion. They described being deluged with calls from groups looking to put money to work with the firm, long known for its distressed-investing prowess. Apollo’s flagship private equity fund, which opened to investors almost two decades ago, has delivered annual gains of 44%, Bloomberg reported in January.In the second quarter, Apollo announced and closed on $17.4 billion in commitments to its funds. It took the firm eight weeks to raise $1.75 billion for a dislocation fund earlier this year, executives said in July. The company invested the money rapidly and planned to raise as much as $3 billion more for a similar fund, according to people familiar with the matter. Also that month, Mubadala Investment Co. announced a $12 billion partnership with Apollo to make loans of as much as $1 billion to companies in the U.S. and Europe.Deep RegretsBlack, 69, is expected to address investors on Thursday’s conference call. Among those listening will be public shareholders and institutional funds reconsidering their ties to Apollo amid renewed scrutiny over Epstein, whom Black has said he turned to for matters such as taxes, estate planning and philanthropy.Investors including a Pennsylvania pension fund and the state of Connecticut paused new investments with the firm. And major consultants with sway over hundreds of billions of dollars have urged clients to hold off or put Apollo on notice that they might not recommend the company.Read more: Apollo Hit Again as Aksia Tells Clients to Delay InvestmentIn a letter to Apollo’s limited partners this month, Black said he deeply regretted having had any involvement with Epstein and that nothing in a recent New York Times article was inconsistent with an earlier description of their ties.The newspaper, which didn’t accuse Black of breaking the law, reported on Oct. 12 that he wired at least $50 million to Epstein after his 2008 conviction for soliciting prostitution from a teenage girl. Shares of Apollo have tumbled about 16% since.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Intrado to Divest Health Advocate Business
    GlobeNewswire

    Intrado to Divest Health Advocate Business

    OMAHA, Neb., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Intrado Corporation (“Intrado” or the “Company”), a global leader in technology-enabled services, today announced it has entered into a definitive agreement with Teleperformance, a leading global group in digitally integrated business services, for the sale of Intrado’s Health Advocate business for the purchase price of $690 million. Health Advocate is a leading provider of health advocacy, navigation, and well-being and integrated benefits programs.“After a strategic review of our businesses, we made the decision to sell Health Advocate to allow greater focus on Intrado’s other cloud businesses,” said John Shlonsky, President and Chief Executive Officer of Intrado. “Teleperformance will be an outstanding home for Health Advocate. Teleperformance’s focus on personalized customer experience and innovation aligns closely with Health Advocate’s nearly identical priorities. We are excited for the Health Advocate team to be able to continue to expand the business within the world-class Teleperformance organization.”The transaction is expected to close in the first quarter of 2021, subject to regulatory approvals and other customary closing conditions.Goldman Sachs and Triple Tree acted as financial advisors and Wachtell, Lipton, Rosen & Katz served as legal advisor to Intrado on the transaction.About IntradoIntrado Corporation is an innovative, cloud-based, global technology partner to clients around the world. Our solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight.Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America, and South America. Intrado is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO). For more information, please call 1- 800-841-9000 or visit www.intrado.com.Forward-Looking StatementsThis press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be generally identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect only Intrado’s current expectations and are not guarantees of future performance or results. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the Covid-19 pandemic; Intrado’s ability to complete this divestiture; competition in Intrado’s highly competitive markets; increases in the cost of voice and data services or significant interruptions in these services; Intrado’s ability to keep pace with its clients’ needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; security and privacy breaches of the systems Intrado uses to protect personal data; the effects of global economic trends on the businesses of Intrado’s clients; the non-exclusive nature of Intrado’s client contracts and the absence of revenue commitments; the cost of pending and future litigation; the cost of defending against intellectual property infringement claims; the effects of extensive regulation affecting many of Intrado’s businesses; Intrado’s ability to protect its proprietary information or technology; service interruptions to Intrado’s data and operation centers; Intrado’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Intrado operates; changes in foreign exchange rates; Intrado’s ability to complete future acquisitions, integrate or achieve the objectives of its recent and future acquisitions; and future impairments of our substantial goodwill, intangible assets, or other long-lived assets. In addition, Intrado is subject to risks related to its level of indebtedness. Such risks include Intrado’s ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Intrado’s ability to comply with covenants contained in its debt instruments; Intrado’s ability to obtain additional financing; the incurrence of significant additional indebtedness by Intrado and its subsidiaries; and the ability of Intrado’s lenders to fulfill their lending commitments. Intrado is also subject to other risk factors described in its annual report for the year ended December 31, 2019.These forward-looking statements speak only as of the date on which the statements were made. Intrado undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. CONTACT: Contact Dave Pleiss Investor and Public Relations DMPleiss@intrado.com 402.716.6578

  • GlobeNewswire

    SPARTAN AND FISKER EXPECT CASH TO EXCEED $1.0 BILLION FOLLOWING TRANSACTION CLOSING

    All necessary funding for Fisker Ocean electric SUV expected to be in placeLOS ANGELES / NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Spartan Energy Acquisition Corp. (“Spartan”) (NYSE: SPAQ), and Fisker Inc. (“Fisker”), announced today that, as of the deadline for redemption elections in connection with the pending business combination between the two companies (the “Fisker Transaction”), approximately $550 million of the original $552 million will remain available in Spartan’s trust. When combined with previously announced outstanding financing commitments of approximately $500 million and cash on hand at Fisker, the post-combination company expects to have in excess of $1.0 billion (net of transaction fees and expenses) of cash on the balance sheet and no funded debt, following the closing of the Fisker Transaction. This amount is expected to fund Fisker operations and the development of the Fisker Ocean program through the planned start of production in Q4 2022. The consummation of the Fisker Transaction is expected to occur after the special meeting of Spartan’s stockholders, which is scheduled for October 28, 2020, subject to final stockholder approval and satisfaction of other customary closing conditions.“We appreciate the ongoing support of Spartan’s investors and are pleased to see this important milestone toward the closing of the Fisker Transaction, which is expected to provide Fisker with ample resources to execute on the next phase of the business plan created by Henrik and team,” said Geoffrey Strong, Chairman and CEO of Spartan and Senior Partner, Co-Head of Infrastructure and Natural Resources at Apollo Global Management, Inc. (“Apollo”).“Together with the recent announcement of our strategic cooperation with Magna, today’s news brings the Ocean SUV another significant step closer to launch,” said Henrik Fisker, Chairman and CEO of Fisker. “I’d like to thank our colleagues at Spartan and Apollo for their confidence in our strategy and ability to execute.”Holders of Spartan’s common stock as of the close of business on October 1, 2020 are entitled to vote at the special meeting of Spartan’s stockholders. The Spartan Board of Directors unanimously recommends that stockholders vote “FOR” the business combination proposal with Fisker as well as the other proposals set forth in the proxy statement. Spartan appreciates the support of its stockholders and committed financing for the Fisker Transaction.About Spartan Energy Acquisition Corp.Spartan is a special purpose acquisition entity focused on the energy value-chain in North America and was formed for the purpose of entering into a merger, amalgamation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is sponsored by Spartan Energy Acquisition Sponsor LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (NYSE: APO).About Fisker Inc. California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. For more information and to reserve the all-electric Fisker Ocean visit www.fiskerinc.com.Forward-Looking StatementsThe information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Fisker Transaction and the ability to consummate the Fisker Transaction are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Spartan and Fisker disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Spartan and Fisker caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Spartan and Fisker. In addition, Spartan and Fisker caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the Fisker Transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Spartan or Fisker regarding the Fisker Transaction; (iii) the inability to complete the Fisker Transaction due to the failure to obtain approval of the stockholders of Spartan, or other conditions to closing in the transaction agreements; (iv) the risk that the proposed Fisker Transaction disrupts Spartan’s or Fisker’s current plans and operations; (v) Fisker’s ability to realize the anticipated benefits of the Fisker Transaction, which may be affected by, among other things, competition and the ability of Fisker to grow and manage growth profitably following the Fisker Transaction; (vi) costs related to the Fisker Transaction; (vii) changes in applicable laws or regulations; and (viii) the possibility that Fisker may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the proxy statement for Spartan’s special meeting of stockholders and Spartan’s periodic filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. Spartan’s SEC filings are available publicly on the SEC’s website at www.sec.gov.Contacts:Head of Investor Relations Gary M. Stein 212.822.0467 gstein@apollo.com Investor Relations ManagerAnn Dai 212.822.0678 Adai@Apollo.Com Global Head of Corporate CommunicationsJoanna Rose 212.822.0491 jrose@apollo.com