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APO

Apollo Global

$31.55

-1.19 (-3.64%)

, SFS

Smart & Final Stores

$6.51

(0.00%)

06:03
05/14/19
05/14
06:03
05/14/19
06:03

Apollo Global affiliates commence tender offer for shares of Smart & Final Stores

Funds managed by affiliates of Apollo Global (APO) announced the commencement of a cash tender offer to purchase all of the outstanding shares of common stock of Smart & Final Stores (SFS). The tender offer is being made pursuant to the merger agreement announced by Apollo and Smart & Final on April 16, under which First Street Merger Sub will acquire all of the outstanding shares of Smart & Final's common stock for $6.50 per share, net to the holders thereof, payable in cash, without interest and less any applicable tax withholding. The tender offer will expire at 5:00 p.m. New York City Time on June 17, unless the offer period is extended or earlier terminated in accordance with the Merger Agreement and the applicable rules and regulations of the SEC. Upon the completion of the transaction, Smart & Final will become a privately held company.

APO

Apollo Global

$31.55

-1.19 (-3.64%)

SFS

Smart & Final Stores

$6.51

(0.00%)

  • 22

    May

  • 11

    Jun

APO Apollo Global
$31.55

-1.19 (-3.64%)

11/14/18
MSCO
11/14/18
DOWNGRADE
MSCO
Equal Weight
Morgan Stanley downgrades Apollo Global and Carlyle, favors brokers late cycle
As previously reported, Morgan Stanley analyst Michael Cyprys downgraded Apollo Global (APO) and Carlyle Group (CG), each to Equal Weight from Overweight, stating that he sees growing risk to portfolio harvesting and dividends and favors discount brokers in a more volatile, late cycle environment. On Apollo, he said he now has less conviction that cash performance fees can accelerate over the next 12 months given the more volatile market backdrop. On Carlyle, he sees risk to growing cash performance fees with increased market volatility. Cyprys lowered his price target on Apollo shares to $34 from $42 and cut his price target on Carlyle shares to $23 from $31.
11/14/18
11/14/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Buy at Guggenheim with analyst Robert Cihra saying the average selling price of the iPhone has increased a "dramatic" $220, or 40%, over the past 10 years, reflecting its "growing value to both consumer and business markets." 2. Kellogg (K) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying that while nothing at the company's investor day "necessarily disappointed" him, he also did not gain "much comfort that the bottom-line turnaround would be swift." 3. Apollo Global (APO) and Carlyle Group (CG) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Conagra Brands (CAG) downgraded to Underperform from Market Perform at Bernstein with analyst Alexia Howard saying the frozen category has experienced positive growth over the past year, largely led by new product innovation from Conagra and Pinnacle Foods, but this now seems to be running out of steam. 5. Tenneco (TEN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
JPMS
01/14/19
DOWNGRADE
Target $22
JPMS
Neutral
Arconic downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella downgraded Arconic (ARNC) to Neutral and lowered his price target for the shares to $22 from $24. The analyst cites valuation for the downgrade. The shares are gradually pricing in a buyout, which is appropriate, Gambardella tells investors in a research note. Bloomberg on January 2 reported that Apollo Global (APO) in talks to buy Arconic for $22 per share.
04/17/19
OPCO
04/17/19
NO CHANGE
OPCO
Oppenheimer moving to Not Rated on Smart & Final Stores
Oppenheimer analyst Rupesh Parikh is moving to Not Rated from Perform on Smart & Final Stores (SFS), after the company agreed to be acquired by private equity firm Apollo Global Management (APO) for $6.50 a share.
SFS Smart & Final Stores
$6.51

(0.00%)

02/07/19
BUCK
02/07/19
INITIATION
Target $6.75
BUCK
Neutral
Smart & Final Stores initiated with a Neutral at Buckingham
Buckingham analyst Bob Summers started Smart & Final Stores with a Neutral rating and $6.75 price target. The analyst is concerned "pressure points" from competitive activity and cannibalization will persist and he does not view the current valuation as "overly accommodating."
04/17/19
WELS
04/17/19
DOWNGRADE
WELS
Market Perform
Smart & Final Stores downgraded to Market Perform from Outperform at Wells Fargo
04/17/19
MSCO
04/17/19
UPGRADE
MSCO
Equal Weight
Smart & Final Stores upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Vincent Sinisi upgraded Smart & Final Stores (SFS) to Equal Weight after the company announced an agreement to be acquired by affiliates of Apollo Global (APO).

TODAY'S FREE FLY STORIES

CVNA

Carvana

$66.99

-0.175 (-0.26%)

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INSM

Insmed

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LOW

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$111.10

1.86 (1.70%)

, ADI

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$99.98

2.54 (2.61%)

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ADI

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TGT

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VFC

VF Corp.

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Conference/Events
CLSA Asian tech analysts to hold an analyst/industry conference call »

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SPY

SPDR S&P 500 ETF Trust

$286.50

2.55 (0.90%)

, SPX

S&P 500

$0.00

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SPY

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$286.50

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NEO

NeoGenomics

$21.81

-1.38 (-5.95%)

20:12
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BAM

Brookfield

$47.03

0.02 (0.04%)

, BX

Blackstone

$41.79

1.17 (2.88%)

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Brookfield

$47.03

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BX

Blackstone

$41.79

1.17 (2.88%)

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  • 11

    Jun

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GOLD

Barrick Gold

$12.12

-0.07 (-0.57%)

19:18
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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:04
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Sea Limited reports Q1 QAUs up 114.4% from last year »

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  • 21

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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:02
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19:02
Earnings
Sea Limited reports Q1 EPS (64c), consensus (68c) »

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  • 21

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SNE

Sony

$51.01

-1.195 (-2.29%)

18:48
05/21/19
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Periodicals
Sony aims to bolster cash flow to better compete in chips, games, NAR says »

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  • 10

    Jun

OOMA

Ooma

$14.49

-0.45 (-3.01%)

, CVI

CVR Energy

$47.29

0.9 (1.94%)

18:47
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Hot Stocks
Fly Intel: After Hours Movers »

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

CVI

CVR Energy

$47.29

0.9 (1.94%)

PVH

PVH Corp.

$108.53

2.5075 (2.37%)

PSTG

Pure Storage

$20.60

0.6 (3.00%)

JWN

Nordstrom

$37.88

0.42 (1.12%)

URBN

Urban Outfitters

$27.01

0.05 (0.19%)

TOL

Toll Brothers

$38.34

0.82 (2.19%)

ONCS

OncoSec

$3.95

0.149 (3.92%)

EKSO

Ekso Bionics

$1.84

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TOCA

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LIQT

LiqTech

$9.29

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TREX

Trex Company

$61.44

2.38 (4.03%)

18:45
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  • 13

    Nov

CRMT

America's Car-Mart

$101.76

1.74 (1.74%)

18:34
05/21/19
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Earnings
America's Car-Mart reports Q4 EPS $2.07, consensus $1.82 »

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  • 22

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JCOM

j2 Global

$87.23

0.75 (0.87%)

18:25
05/21/19
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Hot Stocks
j2 Global CFO sells 5.6K shares of common stock »

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  • 21

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NVS

Novartis

$82.38

0.36 (0.44%)

18:24
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Hot Stocks
Novartis CEO: We are entering an exciting growth phase for the company »

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  • 23

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EADSY

Airbus

$0.00

(0.00%)

18:20
05/21/19
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Periodicals
Airbus in talks to find resolution to German arms export row, Reuters says »

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AGRO

Adecogro

$6.50

0.07 (1.09%)

18:19
05/21/19
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Earnings
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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

, GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

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  • 19

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HAIN

Hain Celestial

$23.90

0.45 (1.92%)

17:50
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Engaged Capital raises stake in Hain Celestial to 20.2% from 18.3% »

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NTDOY

Nintendo

$0.00

(0.00%)

17:48
05/21/19
05/21
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Hot Stocks
Nintendo to end 'Animal Crossing,' 'Fire Emblem' mobile game service in Belgium »

Nintendo announced that,…

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  • 08

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URBN

Urban Outfitters

$27.01

0.05 (0.19%)

17:44
05/21/19
05/21
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17:44
Hot Stocks
Urban Outfitters sees Q2 URBN retail SSS in low single-digit negative range »

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  • 21

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GLD

SPDR Gold Shares

$120.34

-0.31 (-0.26%)

17:42
05/21/19
05/21
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17:42
Hot Stocks
SPDR Gold Shares holdings rise to 739.69MT from 736.17MT »

This is the highest level…

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ASCMA

Ascent Capital

$0.91

0.0502 (5.87%)

17:38
05/21/19
05/21
17:38
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17:38
Hot Stocks
Ascent Capital and Monitronics International announce restructuring support pact »

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TRS

TriMas

$30.33

0.39 (1.30%)

17:33
05/21/19
05/21
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05/21/19
17:33
Hot Stocks
TriMas VP Joshua Sherbin sells over $646K in company shares »

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