Apollo Global Management Inc

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• DJ Correction to Dell and 4 More Stocks That Could Be Added to the S&P 500 Next -- Barrons.com, from 6:23PM ET on Monday Jun 10, 2024 by Dow Jones

  6:23PM ET on Monday Jun 10, 2024 by Dow Jones
  Companies Mentioned: APO, DELL, PLTR, COIN, CMA
  Andrew Bary Dell Technologies, Apollo Global Management, Coinbase Global, Palantir Technologies and Workday could be among the next companies to join the S&P 500 following Friday's news that KKR, CrowdStrike Holdings, and GoDaddy will be included. Dell, the maker of servers and personal computers, is now the largest U.S. company in terms of market capitalization that isn't in the S&P 500. It has a market value of almost $93 billion. Apollo, the big alternative asset-management company and insurer, ranks second at $64 billion. KKR and CrowdStrike, with market capitalizations of more than $80 billion, had been the No. 2 and No. 3 U.S. companies by market value not in the index until S&P Dow Jones Indices said Friday that they and GoDaddy will be added before the start of trading on June 24. The three companies will replace Comerica, Robert Half, and Illumina. Comerica and Robert Half have market capitalizations of about $6 billion, while Illumina's is $18 billion. S&P Dow Jones Indices doesn't automatically add the largest companies not in the index when it makes additions, but it generally gets around to putting those stocks into the S&P 500. Big market-cap companies that have been added in the past year include Uber Technologies, Airbnb, and Blackstone. Potential additions to the S&P 500 include Dell, Apollo, Palantir, Coinbase, Ares Management, Workday, Snowflake, DoorDash, and TradeDesk. They all have market values of at least $40 billion, which puts them well above the minimum of $12.7 billion required for inclusion. Being in the S&P 500 index isn't only prestigious, inclusion can also lead to a higher stock price due to purchases by index funds. On Monday afternoon, KKR stock was up 11% to $108.95 while CrowdStrike rose 7.3% to $374.57 and GoDaddy was 1.9% higher at $142.04. Investors may be buying the stocks before funds tracking the indexes acquire the shares around the time the stocks join the S&P 500 later this month. Neither KKR nor CrowdStrike was in the S&P 400 MidCap index before Friday's news. S&P Dow Jones Indices has several criteria for entry into the S&P 500 beside size. Only U.S. companies are eligible and they need to be profitable under generally accepted accounting principles for four quarters based on the sum of their profits over that span, as well as being GAAP profitable in the most recent quarter. The profitability test can trip up some large technology companies that aren't profitable for four quarters based on GAAP earnings. Master limited partnerships and business development companies aren't eligible for inclusion. That nixes the gigantic pipeline company Enterprise Products, which is a master limited partnership. Write to Andrew Bary at andrew.bary@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications Dell Technologies has the largest market capitalization among U.S. companies not included in the S&P 500 or slated for inclusion. It is bigger than both KKR and Crowdstrike, which will be added to the index later this month. An earlier version of this article failed to mention Dell and incorrectly said Apollo Global Management was the biggest company not included or scheduled to be added. (END) Dow Jones Newswires June 10, 2024 18:23 ET (22:23 GMT)

• DJ Dell and 4 More Stocks That Could Be Added to the S&P 500 Next -- Barrons.com, from 5:43PM ET on Monday Jun 10, 2024 by Dow Jones

  5:43PM ET on Monday Jun 10, 2024 by Dow Jones
  Companies Mentioned: APO, DELL, PLTR, COIN, CMA
  Andrew Bary Dell Technologies, Apollo Global Management, Coinbase Global, Palantir Technologies and Workday could be among the next companies to join the S&P 500 following Friday's news that KKR, CrowdStrike Holdings, and GoDaddy will be included. Dell, the maker of servers and personal computers, is now the largest U.S. company in terms of market capitalization that isn't in the S&P 500. It has a market value of almost $93 billion. Apollo, the big alternative asset-management company and insurer, ranks second at $64 billion. KKR and CrowdStrike, with market capitalizations of more than $80 billion, had been the No. 2 and No. 3 U.S. companies by market value not in the index until S&P Dow Jones Indices said Friday that they and GoDaddy will be added before the start of trading on June 24. The three companies will replace Comerica, Robert Half, and Illumina. Comerica and Robert Half have market capitalizations of about $6 billion, while Illumina's is $18 billion. S&P Dow Jones Indices doesn't automatically add the largest companies not in the index when it makes additions, but it generally gets around to putting those stocks into the S&P 500. Big market-cap companies that have been added in the past year include Uber Technologies, Airbnb, and Blackstone. Potential additions to the S&P 500 include Dell, Apollo, Palantir, Coinbase, Ares Management, Workday, Snowflake, DoorDash, and TradeDesk. They all have market values of at least $40 billion, which puts them well above the minimum of $12.7 billion required for inclusion. Being in the S&P 500 index isn't only prestigious, inclusion can also lead to a higher stock price due to purchases by index funds. On Monday afternoon, KKR stock was up 11% to $108.95 while CrowdStrike rose 7.3% to $374.57 and GoDaddy was 1.9% higher at $142.04. Investors may be buying the stocks before funds tracking the indexes acquire the shares around the time the stocks join the S&P 500 later this month. Neither KKR nor CrowdStrike was in the S&P 400 MidCap index before Friday's news. S&P Dow Jones Indices has several criteria for entry into the S&P 500 beside size. Only U.S. companies are eligible and they need to be profitable under generally accepted accounting principles for four quarters based on the sum of their profits over that span, as well as being GAAP profitable in the most recent quarter. The profitability test can trip up some large technology companies that aren't profitable for four quarters based on GAAP earnings. Master limited partnerships and business development companies aren't eligible for inclusion. That nixes the gigantic pipeline company Enterprise Products, which is a master limited partnership. Write to Andrew Bary at andrew.bary@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications This article was corrected at 6:25 p.m. ET to reflect that Dell Technologies has the largest market capitalization among U.S. companies not included in the S&P 500 or slated for inclusion. It is bigger than both KKR and Crowdstrike, which will be added to the index later this month. The original version failed to mention Dell and incorrectly said Apollo Global Management was the biggest company not included or scheduled to be added. (END) Dow Jones Newswires June 10, 2024 17:43 ET (21:43 GMT)

• Market Chatter: Apollo, Kyndryl May Make Joint Bid for DXC Technology, from 4:51PM ET on Monday Jun 10, 2024 by MT Newswires

  4:51PM ET on Monday Jun 10, 2024 by MT Newswires
  Companies Mentioned: APO, KD, DXC
  04:51 PM EDT, 06/10/2024 (MT Newswires) -- Apollo Global Management (APO) and Kyndryl Holdings (KD) are in talks about making a joint bid for DXC Technology (DXC), Reuters reported Monday, citing people familiar with the matter. Apollo and Kyndryl a...

• DJ Apollo Global Management on Track for Record High Close -- Data Talk, from 2:46PM ET on Monday Jun 10, 2024 by Dow Jones

  2:46PM ET on Monday Jun 10, 2024 by Dow Jones
  Companies Mentioned: APO
  
  Apollo Global Management Inc (APO) is currently at $118.21, up $5.85 or 5.21%
  
  --Would be new all-time high (Based on available data back to March 30, 2011)