Zoom Video announces $100M Zoom Apps Fund » 09:2104/1904/19/21
Zoom Video Communications…
AutoZone price target raised to $1,562 from $1,395 at JPMorgan » 07:3004/1904/19/21
Kohl's price target raised to $60 from $57 at JPMorgan » 07:2704/1904/19/21
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss raised the firm's price target on Kohl's to $60 from $57 and keeps a Neutral rating on the shares. Chase Consumer Spending data "materially accelerated" in mid-March with overall spending exceeding pre-pandemic 2019 levels by 9% on average over the last six weeks, Boss tells investors in a research note. Further, denim was the "clear stand-out broadly" coming out of JPMorgan's annual retail round-up, adds the analyst.
Abercrombie & Fitch price target raised to $44 from $37 at JPMorgan » 07:2604/1904/19/21
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss raised the firm's price target on Abercrombie & Fitch to $44 from $37 and keeps a Neutral rating on the shares. Chase Consumer Spending data "materially accelerated" in mid-March with overall spending exceeding pre-pandemic 2019 levels by 9% on average over the last six weeks, Boss tells investors in a research note. Further, denim was the "clear stand-out broadly" coming out of JPMorgan's annual retail round-up, adds the analyst.
OneMain Holdings downgraded to Market Perform from Outperform at BMO Capital » 19:3604/1804/18/21
OMF, KKR, APO, BEN, VCTR, MS, GS
BMO Capital analyst James…
BMO Capital analyst James Fotheringham downgraded OneMain Holdings (OMF) to Market Perform from Outperform with an unchanged price target of $60. The analyst cites "exclusively" valuation for the downgrade. The shares have tripled over the past year and are now well above historical averages, Fotheringham tells investors in a research note. The analyst notes that he's not making a call on the upcoming quarter. He prefers market-oriented asset managers like KKR (KKR), Apollo Global (APO) , Franklin Resources (BEN), and Victory Capital (VCTR) as well as investment banks Morgan Stanley (MS) and Goldman Sachs (GS).
Notable open interest changes for April 16th » 08:5504/1604/16/21
BAC, NIO, PLUG, AMD
Thursday's total option volume of 36.1 million contracts resulted in net open interest growth of 4.24 million calls and 3.57 million puts. Bank of America (BAC), NIO (NIO), Plug Power (PLUG) and Advanced Micro (AMD) saw the greatest growth. Top five new positions opened include 29k Plug Power (PLUG) 4/23 weekly 29 calls, 22k Petrobras (PBR) May-21 9 puts, 22k Keurig Dr Pepper (KDP) May-21 36 calls, 20k AT&T (T) Jun-21 30 puts and 20k AT&T (T) Jun-21 30 calls.
Ten new option listings and three option delistings on April 16th » 08:3004/1604/16/21
ABST, ALHC, AVNW, CIXX, DSGX, ORLA, STN, TAC, ZH, ZIM, CKH, GMLP, MIK
New option listings for…
New option listings for April 16th include Absolute Software Corporation (ABST), Alignment Healthcare Inc (ALHC), Aviat Networks (AVNW), CI Financial Corporation (CIXX), Descartes Systems (DSGX), Orla Mining Ltd (ORLA), Stantec (STN), TransAlta (TAC), Zhihu Inc (ADS) (ZH), and ZIM Integrated Shipping Services Ltd (ZIM). Option delistings effective April 16th include Seacor Holdings Inc (CKH), Golar LNG Partners LP (Units) (GMLP), and Michaels Companies Inc (MIK).
Apollo Global considers opening offices in Florida, Europe, Bloomberg says » 18:0304/1504/15/21
Apollo Global Management…
Apollo Global Management is thinking about opening additional offices in Florida and elsewhere as it looks to attract and retain talent, Bloomberg's Sabrina Willmer reports. Apollo is considering outposts in Miami and West Palm Beach, as well as an office elsewhere in the U.S., and another in Europe, said spokeswoman Joanna Rose. Apollo, which will retain its New York headquarters, recently surveyed employees about where they prefer to work as part of a strategy to attract a broader talent pool, she said. Reference Link
Abercrombie & Fitch price target raised to $46 from $38 at B. Riley » 08:1604/1504/15/21
B. Riley analyst Susan…
B. Riley analyst Susan Anderson raised the firm's price target on Abercrombie & Fitch to $46 from $38 and reiterates a Buy rating on the shares. The analyst believes management has taken the proper steps in managing inventory through the pandemic by shifting into in-demand casual and comfortable apparel that was rarely marked down. As the economy re-opens, the assortment has started to shift towards more fashion and "going out" styles that are also rarely marked down, Anderson tells investors in a research note.
Apollo Global announces completion of tender offer for shares of Michaels » 08:1504/1504/15/21
Magic MergeCo, an entity…
Magic MergeCo, an entity controlled by funds managed by affiliates of Apollo Global Management, Inc. (APO) announced the completion of the previously commenced cash tender offer by the Purchaser to purchase all of the outstanding shares of common stock of The Michaels Companies (MIK). The tender offer, which was extended on April 8, 2021, expired at 5:00 P.M., New York City time on April 14, 2021. As of the expiration of the tender offer, a total of 122,994,416 shares of common stock of Michaels, representing approximately 85.92% of the outstanding Michaels shares, were validly tendered into and not validly withdrawn from the tender offer. As of such expiration, all conditions to the tender offer have been satisfied or waived. Purchaser has accepted for payment, and expects to promptly pay for, all such Michaels shares validly tendered into and not withdrawn in accordance with the terms of the tender offer. As a result of its acceptance of the shares tendered in the tender offer, Purchaser has acquired a sufficient number of shares of Michaels' common stock to, and expects to, close the merger of Purchaser with and into Michaels without the affirmative vote of Michaels' other stockholders pursuant to Section 251(h) of the Delaware General Corporation Law. Purchaser expects to consummate the merger on April 15, 2021. In connection with the merger, the remaining outstanding shares will be converted into the right to receive $22.00 per share in cash, being the same price paid in the tender offer. As a result of the tender offer and the merger, Michaels will become a privately-held, indirect wholly-owned subsidiary of the Apollo Funds and Michaels' common stock will cease trading on the Nasdaq Stock Market.