Apollo Global Management Q3 Profit Tops Estimates
Apollo Global Management, Inc. (APO) reported third quarter distributable earnings per share of $1.71 compared to $0.47, prior year. The company said its distributable earnings per share increased nearly 3x year-over-year, primarily due to higher realized performance fees and principal investment income.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.10, for the quarter. Analysts’ estimates typically exclude special items.
Total Assets Under Management increased to $481.1 billion during the quarter, primarily driven by growth of retirement services clients, the company said.
Net income to class A stockholders was $249.2 million or $1.01 per share, compared to $263.2 million or $1.11 per share, last year. Total revenues increased to $1.08 billion from $1.02 billion. Analysts on average had estimated $1.02 billion in revenue.
Apollo has declared a cash dividend of $0.50 per share of its class A common stock for the third quarter ended September 30, 2021. The dividend will be paid on November 30, 2021 to holders of record at the close of business on November 19, 2021.
GlobalFoundries Gains More Than 12%
GLOBALFOUNDRIES Inc. (GFS) shares are trading more than 12 percent higher on Monday morning bouncing back from a decline of 1.3 percent at debut on Thursday. There were no corporate announcements from the company today to impact the stock movement.
Currently, shares are at $54.96, up 12.22 percent from the previous close of $48.74 on a volume of 6,141,248. The shares have traded in a range of $44.48-$$59.99 on average volume of 11,511,750 since October 28.
Cowboys get another week of wondering about Prescott – The Denver Post
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Standard Chartered Q3 Profit Surges; Backs FY21 Income View – Quick Facts
British bank Standard Chartered Plc (SCBFF.PK,STAC.L,STAN.L) reported Tuesday that its third-quarter profit before tax surged 129 percent to $996 million from last year’s $435 million.
Profit attributable to ordinary shareholders was $644 million, significantly higher than $123 million a year ago. Earnings per share grew to 20.7 US cents from 3.9 US cents last year.
Underlying profit before taxation was $1.08 billion, compared to $745 million a year ago. Underlying earnings per share were 23.1 US cents, compared to prior year’s 13.6 US cents.
Operating income for the quarter grew 7 percent to $3.76 billion from prior year’s $3.51 billion. Income increased 5 percent at constant currency and excluding normalisation adjustments.
Looking ahead for fiscal 2021, the company continues to expect income to be flat with last year on a constant currency basis, with fourth quarter being sequentially lower, reflecting seasonality comparable to prior years, and normalising for the IFRS9 interest income adjustment.
The company projects that strong underlying business momentum throughout 2021 should enable income growth to return to 5-7 percent guidance range from FY’22.
Capita To Sell Speciality Insurance Businesses To Marco Capital; Terms Not Disclosed
Capita Plc (CPI.L), a consulting, transformation, and digital services provider, Tuesday announced its agreement to sell its speciality insurance businesses to Marco Capital Holdings (UK) Limited for an undisclosed sum.
The sale is subject to regulatory approvals.
The sale comprises two businesses, such as Capita Commercial Insurance Services Limited or CCIS, and Capita Managing Agency Limited or CMA.
In the year 2020, the speciality insurance businesses generated revenues of 26 million pounds and profit before tax of 5 million pounds.
Following the sale, the senior management team and employees of both businesses will remain.
In the transaction, Deloitte FIG Corporate Finance acted as the exclusive financial adviser to Capita.
The sale is part of the company’s plan to sell a number of non-core businesses, including these two, to strengthen the balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience.
The company said it continues to target 700 million pounds of non-core disposals proceeds by June 2022.
Democrat Brown wins U.S. House election in Ohio -media projections
WASHINGTON (Reuters) – Democrat Shontel Brown defeated Republican Laverne Gore in a special election for Ohio’s 11th Congressional District to fill a seat that Democrat Marcia Fudge vacated in March to join the Biden administration, MSNBC and the Washington Post projected on Tuesday.
The district includes much of Cleveland and voted overwhelmingly Democratic in the 2020 presidential election. Brown is currently a member of Ohio’s Cuyahoga County Council.
Icahn Enterprises Q3 Loss Sharply Narrows – Quick Facts
Icahn Enterprises L.P. (IEP) reported Tuesday a net loss attributable to limited partners for the third quarter of $145 million or $0.55 per depositary unit, sharply narrower than $700 million or $3.14 per depositary unit in the prior-year quarter.
Revenues for the quarter soared to $2.65 billion from $723 million in the same quarter last year.
On Monday, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, payable on or about December 22, 2021 to depositary unitholders of record at the close of business on November 16, 2021.
The company said depositary unitholders will have until December 10, 2021 to make a timely election to receive either cash or additional depositary units.
As of September 30, 2021, our estimate of indicative net asset value was $5.4 billion, compared to $3.6 billion as of December 31, 2020, an increase of $1.8 billion.