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KKR

KKR

5/22/2013, 5:56 PM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 22, 9:51 AM Leon Black's strategy of "selling everything not nailed down" while at the same time raising new investment funds seems to be working as Apollo Global (APO) is the best-performing (on a Y/Y basis) of the alternative-asset stocks. "Apollo has aggressively entered harvesting mode and you're seeing shareholders reap the benefits," says CS's Howard Chen, who has a Buy rating. Also in the top 5 were FIG, BX, and KKR, while CG and BAM scraped the bottom. In between are relative newcomers OAK and OZM. Comment! [Financials]
Tuesday, May 21, 7:27 AM KKR sells its entire 12% stake (about $260M) in Australian TV network Seven West Media. Seven West Chairman Kerry Stokes believes funding pressures brought on by the high aussie dollar was a factor behind the sale. Seven West shares fell 3.4% in Sydney. Comment! [Financials]
Friday, May 17, 1:08 PM Goldman Sachs (GS) launches the Goldman Sachs Multi-Manager Alternatives Fund offering alternative and non-traditional investment strategies to investments as little as $1K. P-E firms from CG to KKR to BX have noted much of their future growth will not from the institutional side, but from individuals in search of yield. Comment! [Financials]
Monday, April 29, 7:03 AM KKR is eyeing a bid for RIO Tinto's 80% stake in Australia's Northparkes copper-gold mine, reports the WSJ. It's an unusual move for KKR which has largely stayed out of the resources area, but as Rio puts assets on the block to bolster its balance sheet, the P-E firm may be spotting a bargain. 2 Comments [Financials, Commodities]
Friday, April 26, 4:48 AM Onex (ONEXF.PK) might reportedly have to settle for a price of $2.5B for its Carestream Health unit, or not sell it at all, after just Bain and Thomas H. Lee Partners were left in the auction for the medical imaging company. Onex's hopes of getting up to $3.5B were dampened after the likes of Carlyle (CG) and KKR (KKR) pulled out of talks due to Carestream Health's uncertain outlook. Comment! [Healthcare, M&A]
Thursday, April 25, 1:00 PM Investors seem pleased with KKR's new payout plan - which doesn't necessarily increase the dividend, but does make it more frequent and predictable - sending the shares 5% higher. KKR is trading meaningfully below its peers (CG, BX), says Sandler O'Neill's Michael Kim, expecting distributions to reach $1.24 this year, implying more than a 6% yield. Comment! [Financials, On the Move]
Thursday, April 25, 8:56 AM More on KKR Q1 earnings: Economic net income fell 10.9% Y/Y as the valuation of the P-E portfolio rose just 5.9% in Q1 vs. 9% a year ago. AUM of $78.3B, up 3.7% from Q4. New dividend policy: Beginning this quarter, company will pay out each quarter, 40% of realized balance sheet income in addition to traditional payout. The 40% of balance sheet income was typically paid during Q4. This Q's distribution is $0.27. Shares +0.9% premarket. Conference call at 10 ET. (PR) Comment! [Financials, Earnings]
Thursday, April 25, 8:04 AM KKR (KKR): Q1 ENI of $0.88 beats by $0.13. (PR) Comment! [Earnings, Breaking News, Financials]
Thursday, April 25, 12:05 AM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Wednesday, April 24, 5:30 PM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Thursday, April 18, 3:35 PM Benjamin Lawsky - the head of NY's newish Dept. of Financial Services - says he will not shy away form taking the "lead" in confronting the country's financial giants. Hinting at one line of inquiry, Lawsky tells conference attendees he's concerned about P-E firms (BX, CG, KKR) buying insurance companies as their short-term focus may lead to a boost in investment risk. Comment! [Financials]
Thursday, April 18, 11:31 AM Blackstone (BX -0.8%) reverses a big premarket move higher, perhaps as COO Tony James tells reporters in a pre-CC interview he sees a "spring swoon" for the economy and growth "not exactly around the corner." He sees "vast potential" as high net worth individuals - whose assets exceed those of institutions - are "way underrepresented" in the P-E space, and applauds retail offerings by CG and KKR. 2 Comments [Financials]
Thursday, April 18, 7:10 AM KKR agrees to acquire a majority stake in SMCP Group - a family-owned ready-to-wear affordable retailer. Subject to regulatory approval, KKR will own about a 65% stake in the company - which is based in France, but has a growing international presence, including of late, Asia and the U.S. (PR) Comment! [Financials]
Tuesday, April 16, 1:29 PM More on the KKR (KKR +5.2%) upgrade: Sandler hikes KKR ahead of earnings, seeing a big beat of $0.87 vs. $0.78 expected. Strong fundraising continues, says Sandler, and realizations are continuing to build following a strong 2012 H2. The distribution could reach $1.24 this year, implying a yield of 6-7%. Comment! [Financials, On the Move]
Tuesday, April 16, 9:02 AM The private-equity space may see some action today as Sandler O'Neill ratchets up price estimates on Oaktree (OAK), Blackstone (BX), and KKR to $63, $25, and $24, respectively. Oaktree's distribution could reach $4.38 this year, says Sandler, implying a 9% yield. BX +1.3%, KKR +2.5% premarket. Comment! [Financials, Quick Ideas, On the Move]
Monday, April 15, 3:07 AM Thermo Fisher Scientific (TMO) is reportedly closing in on a deal to acquire genetic testing equipment maker Life Technologies (LIFE) for $12.8B after the latter's board chose Thermo Fisher's offer over lower proposals from Sigma-Aldrich (SIAL), a provider of chemicals for research laboratories, and from a consortium involving private-equity firms Blackstone (BX), Carlyle Group (CG) and KKR (KKR). Thermo Fisher has offered $75 a share, 11% above Life's close of $68 on Friday. 1 Comment [Healthcare, M&A, Top Stories]

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