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APO News
APO Events
ONEOK Acquires Brazos Midstream Assets for $4.425B
ONEOK (OKE) announced that it has executed a definitive agreement to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for total cash consideration of $4.425B. The acquisition will be funded through a $9B nonvoting minority equity investment from funds and affiliates managed by Apollo (APO). ONEOK intends to use $5B of proceeds from the equity investment to reduce ONEOK's existing indebtedness. "This transaction demonstrates ONEOK's strategy of intentionally expanding and extending our integrated energy infrastructure," said Pierce Norton II, ONEOK president and CEO. "These assets add a premier Permian Midland Basin platform supported by long-term contracts and attractive growth opportunities.
Apollo and KKR Form Strategic Partnership Valuing Atlantic Aviation at Nearly $10B
Apollo (APO) and KKR (KKR) announced a strategic partnership to support the continued growth of Atlantic Aviation, one of the largest private aviation infrastructure platforms in the United States. Under the transaction, Apollo-managed fund have acquired a significant interest in the company, while KKR-managed funds remain a substantial shareholder. The transaction values Atlantic Aviation at nearly $10B.
Major Averages Close Broadly Lower as Investors Await CPI Report
The major averages closed broadly lower as reported progress in talks between Iran and Oman over maritime activity helped pull oil prices lower after Brent briefly approached $90 a barrel amid the latest U.S.-Iran tensions.Next up, investors await tomorrow's July CPI report, which will be particularly important following last week's unexpectedly weak July jobs report, with economists surveyed by Reuters expecting headline inflation to rise 3.4% year over year and core CPI to increase 2.5%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiaannounced strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKRtofor the buildout of AI infrastructureIntelincreased theto $20B in common stock from $15BRocket Lab USAreportedand launched a German subsidiaryCardinal Healthreportedand provided upbeat FY27 guidanceAlphabetCEO Sundar Pichai said over $1B people are2. WALL STREET CALLS:Boeingto Buy from Hold at ArgusTruistBest Buyon positive card reads into Q2 reportCitiAllstateto Sell on valuation, growth concernsUnder Armourto Underweight at BarclaysGapto Equal Weight at Barclays3. AROUND THE WEB:Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring from Appleafter more than two decades at the company, Bloomberg reportsA judge is leaning towards sending Edison'sliability issue to a jury trial, Bloomberg saysACV Auctionsis exploring strategic alternatives, including a potential sale or strategic partnership, after receiving takeover interest and engaging financial advisers to conduct a review, Bloomberg reportsFlowers Foodswants to divest its baked goods business Tastykake and is working with investment bank RBCon the process, Reuters reportsAnthropic is meeting with potential investors hoping to build confidence in its planned IPO, offering assurances about its growth and strategies it plans to implement to address growing backlash against AI, WSJ says4. MOVERS:Quantum Corp.gains afterand providing guidance for Q2Fermiincreases after announcing aKopinand Sea Limitedhigher in New York afterOn Holdingsfalls afterand providing guidance for FY26OppFiand Upworklower after5. EARNINGS/GUIDANCE:Middleby, with EPS and revenue beating consensusTencent MusicAramarkand raised its outlook for FY26Smithfield Foodsand raised its outlook for FY26Janusand cut its guidance for FY26INDEXES:The Dow fell 184.13, or 0.34%, to 53,791.85, the Nasdaq lost 159.91, or 0.60%, to 26,445.45, and the S&P 500 declined 24.91, or 0.32%, to 7,728.20.
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