Short interest for KKR gives investors a sense of the degree to which investors are betting on the decline of KKR's stock. Short interest data is updated every two weeks.

KKR Stock (NYSE:KKR), Short Interest Report

KKR & Co

KKR & Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.

Earnings

Equities

Large Cap

News

Guidance

Dividends

Movers

Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF

FMCX

KKR reported higher Q1 FY24 results but missed revenue estimates. AUM rose 13% to $578B, with a dividend of $0.175/share. 

What&#39;s Going On With KKR Shares Wednesday?

Nasdaq

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Markets

$BTC

AMZN

BLCO

CHRW

EBAY

ETSY

FRSH

FSLR

GRMN

KLIC

LOGI

NCLH

NOVA

NTGR

NVDA

PINS

QRVO

SBUX

SMCI

SWKS

UPWK

WING

WOLF

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after Advanced Micro Devices, Inc.‘s (NASDAQ:AMD) 

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed&#39;s Powell For Relief: Why This Analyst Sees Incoming Summer Rally

PCG Stock

After-Hours Center

Pacific Gas &amp; Electric is reportedly nearing a deal to sell a stake in its fleet of power plants to KKR &amp; Co. in an effort to raise funds needed to upgrade infrastructure and reduce the risk of fire resulting from its power lines.

PG&amp;E Nears Deal To Sell Stake To KKR

KKR & Co Inc

KATAKURA INDSTRS CO LTD by Katakura Industries Co Ltd

Katakura Industries Co Ltd

KKR Group Finance Co. IX LLC 4.625% Subordinated Notes due 2061

KKR Income Opportunities Fund Common Shares

KKR Income Opportunities Fund

KKR Real Estate Finance Trust Inc. Common Stock

KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. 6.50% Series A Cumulative Redeemable Preferred Stock

Barclays analyst Benjamin Budish maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Overweight and raises the price target from $113 to $114.

Price Target

Analyst Ratings

Barclays Maintains Overweight on KKR, Raises Price Target to $114

TD Cowen analyst Bill Katz maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Buy and lowers the price target from $154 to $148.

TD Cowen Maintains Buy on KKR, Lowers Price Target to $148

KKR &amp; Co. Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) shares are trading higher after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38544985/kkr-co-inc-reports-first-quarter-2024-results" rel="noreferrer noopener">first-quarter FY24 results</a>.
Asset management segment revenues of $1.393 billion missed the consensus of $1.497 billion.
The private equity company reported after-tax adjusted distributable EPS of $0.97, which&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus of $0.96</a>.
In the Insurance segment, net investment income rose to $1.49 billion from $1.27 billion in the prior year, reflecting higher yields and growth in the investment portfolio.&nbsp;
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38052413/sunfirematrix-goes-supernova-kkr-takes-major-holding-in-the-purpose-built-platform" rel="noreferrer noopener">SunFireMatrix Goes Supernova: KKR Takes Major Holding In The Purpose-Built Platform</a>
Fee Related&nbsp;Earnings rose 22% Y/Y to $669 million in the quarter.&nbsp;&nbsp;
Assets under management rose 13% Y/Y to $578 billion, with organic new capital of $31 billion raised in the quarter. As of the quarter-end, cash and investments stood at $14.6 billion.
Dividend: KKR declared a dividend per share of $0.175, payable on May 28 to shareholders of record as of May 13.
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37930426/kkr-steps-into-seouls-urban-rental-market-with-weave-living-a-strategic-move-for-1-200-units" rel="noreferrer noopener">KKR Steps Into Seoul&#8217;s Urban Rental Market With WEAVE LIVING: A Strategic Move For 1,200 Units</a>
Joseph Y. Bae and Scott C. Nuttall, Co-Chief Executive Officers, said, &#8220;We closed on&nbsp;the acquisition of the remaining stake in Global Atlantic and are now reporting our financial results through three segments: Asset Management, Insurance, and Strategic Holdings.&nbsp;With three avenues for long-term, sustained growth–as detailed at our April Investor Day – we are well positioned for the years ahead.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38537193/pg-e-nears-deal-to-sell-stake-to-kkr" rel="noreferrer noopener">PG&amp;E Nears Deal To Sell Stake To KKR</a>
Investors can gain exposure to the stock via&nbsp;Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMCX#NYSE">FMCX</a>) and&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>).
Price Action: KKR shares are trading higher by 2.77% at $95.65&nbsp;at&nbsp;the last check Wednesday.

What's Going On With KKR Shares Wednesday?

WIIM

KKR shares are trading higher following Q1 earnings.

Earnings Beats

KKR & Co Q1 2024 Total Revenues $9.657B

KKR &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.96 by 1.04 percent.

KKR & Co Q1 2024 Adj EPS $0.97 Beats $0.96 Estimate, Fee Related Earnings $0.75 Per Share

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after&nbsp;Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up" rel="noreferrer noopener">underwhelming quarterly report</a>, exerting pressure on the tech sector and the broader market. However, the afternoon&#8217;s Federal Reserve interest rate decision and subsequent press conference by Chairman&nbsp;Jerome Powell&nbsp;could be the&nbsp;key&nbsp;catalyst that ultimately determines the session&#8217;s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $499.92,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 0.75% to $421.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Inclement economic data weighed down on the market on Tuesday, as the major averages reversed course, snapping a two-session advance. The employment cost index &#8211; a measure of wage-induced inflation rose more than expected in the first quarter, Chicago region&#8217;s manufacturing activity sunk further into contraction territory and consumer confidence fell below a threshold that demarcates receding and improving sentiment, three separate reports showed.
Bond yields spiked, exerting further downward pressure on stocks.
The averages opened narrowly mixed and moved roughly sideways in early trading. The indices declined steadily through the remainder of the session, ending notably lower for the day. The sell-off was broad-based, with IT, energy, and consumer discretionary stocks serving as big drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.04%</td>
<td>15,657.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.57%</td>
<td>5,035.69</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.49%</td>
<td>37,815.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.09%</td>
<td>1,973.91</td>
</tr>
</tbody>
</table>
</figure>
For the month, the indices fell 4.41%, 4.16%, 5.00% and 7.09%, respectively, with the S&amp;P 500 snapping a five-month winning run.
Insights From Analysts:
Powell alone can help lift some of the overhang surrounding the rate outlook and this could be the need of the hour, according to an analyst. Charlie Ripley, Senior Investment Strategist for Allianz Investment Management, said, &#8220;Market sentiment continues to waver on inflation-related data sets,&#8221; said the analyst, adding that data showing a jump in employment costs left an &#8220;unsavory taste in the mouth of investors.&#8221; 
&#8220;The continued realization that sticky service-related inflation metrics are taking a bite out of the Fed's rate-cutting plans has investors on edge for the time being and this is squarely being reflected in the sell-off of both bonds and equities,&#8221; Ripley said.
He expects Powell to help shed some light on the current uncertainty surrounding the path of policy rates.  
Carson Group&#8217;s Ryan Detrick, meanwhile, isn&#8217;t worried about the normally bullish April struggling this year. The S&amp;P 500 Index has been higher for five months in a row heading into it and some type of break was warranted, he said.
&#8220;In fact, we wouldn't be surprised if stocks consolidated for another month or so, working off some of the historic rebound off the late-October lows. We do not expect major weakness, but a break makes sense,&#8221; he added.
Detrick raised the specter of a summer rally, and strength during these six months, given it is an election year and stocks have been strong so far this year.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll data for April at 8:15 a.m. EDT. Economists, on average, expect the sector to have added 183,000 jobs during the month, flattish with the previous month.</li>
<li>The Institute for Supply Management is scheduled to release its manufacturing purchasing managers&#8217; index for March at 10 a.m. EDT. The consensus estimate calls for a reading of 49.9, suggesting contraction, down from 50.3 in February.</li>
<li>The Labor Department will release the results of its Job Openings and Labor Turnover survey at 10 a.m. EDT, with the average economists&#8217; estimate for job openings at 8.7 million for March, down from 8.8 million in February.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, will likely show a 0.3% month-over-month increase in spending in March. This compares to a 0.3% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will release its post-meeting policy statement at 2 p.m. EDT and this will be followed by Powell&#8217;s press conference at 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>AMD fell over 6.5% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after the company reported a small first-quarter beat and issued a lukewarm forward guidance. Peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip stocks moved in sympathy.</li>
<li> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed over 2% following its first-quarter results.</li>
<li>Other stocks moving on earnings are Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (up about 18%), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (down over 12%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (down about 13%), and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) (down about 9%).</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell for a third straight session, as the price pulled back toward the $80-a-barrel mark, and gold futures were little changed with a negative bias. An ounce of gold traded for around $2,300.
The 10-year note yield edged up and was around the 4.69% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back sharply toward the $57K mark.
Most global equity markets remained closed for the Labor Day holiday. The open ones, including Japan, New Zealand, and Australia, settled lower ahead of the U.S. Fed decision.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
Photo by Tada Images on Shutterstock

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed's Powell For Relief: Why This Analyst Sees Incoming Summer Rally

Asset Sales

PG&E Comments In Emailed Statement, Sees Deal With KKR Cutting Rates By $100M+ Over Next 20 Years; Would Remain Majority Owner Of Pacific Generation

Pacific Gas &amp; Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) is reportedly nearing a deal to sell a stake in its fleet of power plants to KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) in an effort to raise funds needed to upgrade infrastructure and reduce the risk of<a href="https://www.benzinga.com/news/earnings/24/04/38439446/pg-e-posts-mixed-bag-of-q1-earnings-plows-billions-into-safety"> fire resulting from its power lines. </a>
The Details: According to a <a href="https://www.wsj.com/business/energy-oil/pg-e-nears-deal-with-kkr-for-stake-in-power-business-spinoff-f3c7dc44?mod=e2tw">report</a> from the Wall Street Journal, PG&amp;E said it is seeking regulatory approval to transfer its hydroelectric system and some natural gas, solar and battery facilities, into a new subsidiary called Pacific Generation. PG&amp;E then plans to sell 49.9% of the subsidiary to KKR. 
PG&amp;E said the assets under consideration are valued at nearly $3.5 billion, and analysts estimate the potential deal could be worth between $2 billion and $3 billion. 
The California Public Utilities Commission would have to approve the sale and has expressed concerns that allowing investors to own a substantial stake in PG&amp;E's generation portfolio could pose risks. According to the report, the agency has proposed blocking the sale, but has not made a final decision. 
Related News: <a href="https://www.benzinga.com/news/earnings/24/04/38527392/lendingtree-stock-climbs-on-better-than-expected-q1-results-guidance-above-estimates">LendingTree Stock Climbs On Better-Than-Expected Q1 Results, Guidance Above Estimates</a>
PCG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Pacific Gas &amp; Electric shares are up 0.29% after-hours at $17.11 at the time of publication Tuesday.
Photo: Courtesy of Pacific Gas &amp; Electric Co.

PG&E Nears Deal To Sell Stake To KKR

<a href="https://www.wsj.com/business/energy-oil/pg-e-nears-deal-with-kkr-for-stake-in-power-business-spinoff-f3c7dc44?mod=e2tw">https://www.wsj.com/business/energy-oil/pg-e-nears-deal-with-kkr-for-stake-in-power-business-spinoff-f3c7dc44?mod=e2tw</a>
<a href="https://www.wsj.com/market-data/quotes/PCG">PG&amp;E</a> &nbsp;is nearing a deal to sell a multibillion-dollar stake in its fleet of power plants to investment giant <a href="https://www.wsj.com/market-data/quotes/KKR">KKR</a> as the company seeks funding for work intended to <a href="https://www.wsj.com/business/energy-oil/pg-es-6-billion-plan-to-prevent-wildfires-is-in-peril-df873fde?mod=article_inline">prevent its power lines from sparking wildfires</a>.
The California utility company said it is seeking regulatory approval to transfer its sprawling hydroelectric system, as well as a smaller fleet of natural gas, solar and battery facilities, into a new subsidiary called Pacific Generation, 49.9% of which it intends to sell to KKR, one of the world's biggest infrastructure investors.

Contracts

"PG&E Nears Deal With KKR For Stake In Power Business Spinoff; California Utility Is Seeking Regulatory Approval To Sell KKR Part Of A New Company That Would House Most Of Its Power Generation Business" - WSJ

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

AAPL

ABBV

AMGN

BBAI

BIIB

BJRI

BKNG

CBOE

CHTR

CMCSA

COIN

CYBR

DKNG

EXPE

FANG

FFIV

FIVN

GEHC

GILD

ILMN

INTC

JBLU

JNPR

KLAC

LRCX

LSCC

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

Apollo, KKR, Stonepeak Consider Investment In Intel Chip Joint Venture

KKR and Blackstone Real Estate Income Trust, Inc. ("BREIT") today announced a definitive agreement for funds managed by KKR to acquire a portfolio of 19 purpose-built student housing properties from BREIT for approximately $1.64 billion.
The over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states. The communities feature a wide range of best-in-class amenities and the majority are located with easy pedestrian access to campus. BREIT acquired this portfolio in 2018 in a joint venture with Greystar Real Estate Partners, LLC ("Greystar").
"Student housing is a sector that we have long-term conviction in. We are pleased to be working with Blackstone to complete this transaction which will add a diverse mix of high-quality properties to our portfolio," said Justin Pattner, Partner at KKR and Head of Real Estate Equity in the Americas. "The operating capabilities we have built with University Partners over the past decade and our ability to transact at scale, position us to create value for our investors and to continue investing in great living experiences across these communities. We are deploying into what we view as a compelling market environment to purchase quality real estate."
Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said: "This transaction is an excellent outcome for BREIT's investors and demonstrates the strong demand for the high-quality assets in attractive markets that BREIT owns. We continue to have long-term conviction in student housing and are actively growing through BREIT's student housing platform, American Campus Communities, which is the largest owner of student housing in the U.S."
Upon closing of the transaction, the portfolio will be managed by University Partners, a leading owner and operator of student housing across the U.S. KKR launched University Partners in 2016 with a team of industry veterans as part of its strategy of creating vertically-integrated platforms to build scaled exposures to attractive real estate sectors. Over the past decade, KKR has acquired institutional-quality properties in top university markets across the country and expanded University Partners' business to include third-party property management. Inclusive of the pending acquisition, University Partners will own and manage over 25,000 beds, representing nearly $4 billion of property value owned by KKR and other investors.
"This is a high quality, scaled portfolio of purpose-built student housing assets serving the country's leading four-year public universities," said Travis Roberts, Chief Executive Officer of University Partners. "Approximately half of the portfolio is in markets where we have existing operating experience, and this transaction will enable us to expand our presence into a number of attractive new markets. We believe student housing in the top university markets will continue to benefit from strong enrollment growth and structural constraints on new supply."
Blackstone, predominantly through its wholly owned portfolio company American Campus Communities (ACC), is the largest owner of student housing in the U.S., with more than 190 properties, representing approximately 140,000 beds. Since acquiring ACC in 2022, Blackstone has enabled ACC to build more student housing, including breaking ground on four new student housing communities since Fall 2023. ACC expects to welcome students to six additional new ACC communities across the country in 2024.
The transaction is expected to close by the third quarter of 2024, subject to customary closing conditions. KKR is making its investment in this portfolio primarily from its KKR Real Estate Partners Americas III fund.
Gibson, Dunn &amp; Crutcher LLP served as legal advisor to KKR.
TSB Capital Advisors and J.P. Morgan Securities LLC served as BREIT's financial advisors. Simpson Thacher &amp; Bartlett LLP served as BREIT's legal advisor.

BSTT

KKR And Blackstone Real Estate Income Trust Announces Agreement For Funds Managed By KKR To Acquire A Portfolio Of 19 Purpose-Built Student Housing Properties From BREIT For ~$1.64B

<a href="https://www.bloomberg.com/news/articles/2024-04-24/kkr-raises-11-billion-for-its-newest-global-infrastructure-fund">https://www.bloomberg.com/news/articles/2024-04-24/kkr-raises-11-billion-for-its-newest-global-infrastructure-fund</a>
<a href="https://www.bloomberg.com/quote/KKR:US">KKR &amp; Co.</a> raised $11 billion for its latest global infrastructure fund, more than half of its target, according to a person with knowledge of the matter.
The alternative-asset manager began fundraising for <a href="https://www.bloomberg.com/quote/PE32095:US">KKR Global Infrastructure Investors V</a> in November with a goal of $20 billion, said the person, who asked not to be identified discussing confidential information. The firm hasn't yet held a first close on the fund.

'KKR Raises $11B For Its Newest Global Infrastructure Fund' - Bloomberg News

KKR &amp; Co. Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday</a>.
European Union antitrust regulators are inquiring competitors and clients about potential concerns regarding the planned purchase of&nbsp;Telecom Italia&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TIAIY#OTC">TIAIY</a>) fixed-line access network by U.S. investment firm KKR, which might impact Italy&#8217;s<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38052413/sunfirematrix-goes-supernova-kkr-takes-major-holding-in-the-purpose-built-platform" rel="noreferrer noopener">&nbsp;wholesale market, Reuters reported</a>.
Regulatory concerns may prompt a protracted scrutiny of the agreement, compelling KKR to provide substantial remedies.&nbsp;
Competitors have warned of potential price increases post-deal closure, Reuters added.
KKR is acquiring TIM&#8217;s national network for a potential sum of 22 billion euros ($23.5 billion), marking the first major divestiture of its kind.&nbsp;
TIM&#8217;s landline infrastructure, known as&nbsp;NetCo, serves nearly 89% of households in Italy, with its extensive network of fiber and copper cables spanning over 23 million kilometers across the nation, the report read.&nbsp;
The sale is a component of a government-supported initiative to reduce debt and rejuvenate the company, it added.
The EU watchdog also expressed concerns about potential threats to competition in Italy arising from the agreement between the two companies.
Price Action:&nbsp;KKR shares are trading lower by 1.71% to $96.29 on&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

General

TIAIY

IPOs

KKR Shelves $10B Upfield Sale As Talks With ADQ Collapse, Now Eyeing IPO Or Minority Stake Sale

In today's fast-paced and competitive business landscape, it is essential for investors and industry enthusiasts to thoroughly analyze companies before making investment decisions. In this article, we will conduct a comprehensive industry comparison, evaluating KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) against its key competitors in the Capital Markets industry. By examining key financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>KKR Background</h3>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR &amp; Co Inc</td>
<td>23.95</td>
<td>3.79</td>
<td>6.24</td>
<td>4.81%</td>
<td>$2.68</td>
<td>$1.12</td>
<td>75.7%</td>
</tr>
<tr>
<td>Brookfield Corp</td>
<td>66.18</td>
<td>1.47</td>
<td>0.67</td>
<td>1.6%</td>
<td>$9.69</td>
<td>$3.92</td>
<td>1.26%</td>
</tr>
<tr>
<td>Ares Management Corp</td>
<td>56.40</td>
<td>14.03</td>
<td>5.36</td>
<td>10.47%</td>
<td>$0.73</td>
<td>$1.1</td>
<td>25.09%</td>
</tr>
<tr>
<td>T. Rowe Price Group Inc</td>
<td>14.43</td>
<td>2.63</td>
<td>3.90</td>
<td>4.51%</td>
<td>$0.72</td>
<td>$0.76</td>
<td>7.73%</td>
</tr>
<tr>
<td>Franklin Resources Inc</td>
<td>13.33</td>
<td>1.11</td>
<td>1.58</td>
<td>2.02%</td>
<td>$0.46</td>
<td>$1.22</td>
<td>1.22%</td>
</tr>
<tr>
<td>SEI Investments Co</td>
<td>19.36</td>
<td>4.13</td>
<td>4.67</td>
<td>5.73%</td>
<td>$0.17</td>
<td>$0.24</td>
<td>6.19%</td>
</tr>
<tr>
<td>Blue Owl Capital Inc</td>
<td>187</td>
<td>5.70</td>
<td>5.16</td>
<td>1.18%</td>
<td>$0.18</td>
<td>$0.24</td>
<td>24.91%</td>
</tr>
<tr>
<td>Affiliated Managers Group Inc</td>
<td>9.27</td>
<td>1.46</td>
<td>3.31</td>
<td>5.54%</td>
<td>$0.32</td>
<td>$0.26</td>
<td>-6.87%</td>
</tr>
<tr>
<td>Janus Henderson Group PLC</td>
<td>13.43</td>
<td>1.13</td>
<td>2.43</td>
<td>2.87%</td>
<td>$0.19</td>
<td>$0.41</td>
<td>10.35%</td>
</tr>
<tr>
<td>Hamilton Lane Inc</td>
<td>34.91</td>
<td>9.81</td>
<td>12.47</td>
<td>4.19%</td>
<td>$0.06</td>
<td>$0.08</td>
<td>-1.42%</td>
</tr>
<tr>
<td>Average</td>
<td>46.03</td>
<td>4.61</td>
<td>4.39</td>
<td>4.23%</td>
<td>$1.39</td>
<td>$0.91</td>
<td>7.61%</td>
</tr>
</tbody>
</table>
<style>
 table {
 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

 th {
 background-color: #293a5a;
 color: #fff;
 text-align: left;
 }

 tr:nth-child(even) {
 background-color: #f2f4f8;
 }

 tr:hover {
 background-color: #e1e4ea;
 }

 td:nth-child(3), td:nth-child(5) {
 text-align: left;
 }

 .dividend-amount {
 font-weight: bold;
 color: #0d6efd;
 }

 .dividend-frequency {
 font-size: 12px;
 color: #6c757d;
 }
 </style>Through a detailed examination of KKR, we can deduce the following trends: 
<ul>
<li>
The stock's Price to Earnings ratio of 23.95 is lower than the industry average by 0.52x, suggesting potential value in the eyes of market participants.
</li>
<li>
With a Price to Book ratio of 3.79, significantly falling below the industry average by 0.82x, it suggests undervaluation and the possibility of untapped growth prospects.
</li>
<li>
The stock's relatively high Price to Sales ratio of 6.24, surpassing the industry average by 1.42x, may indicate an aspect of overvaluation in terms of sales performance.
</li>
<li>
With a Return on Equity (ROE) of 4.81% that is 0.58% above the industry average, it appears that the company exhibits efficient use of equity to generate profits.
</li>
<li>
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $2.68 Billion is 1.93x above the industry average, highlighting stronger profitability and robust cash flow generation.
</li>
<li>
The gross profit of $1.12 Billion is 1.23x above that of its industry, highlighting stronger profitability and higher earnings from its core operations.
</li>
<li>
The company's revenue growth of 75.7% exceeds the industry average of 7.61%, indicating strong sales performance and market outperformance.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713970847_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio measures the financial leverage of a company by evaluating its debt relative to its equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When examining KKR in comparison to its top 4 peers with respect to the Debt-to-Equity ratio, the following information becomes apparent:
<ul>
<li>
Among its top 4 peers, KKR is placed in the middle with a moderate debt-to-equity ratio of 2.16.
</li>
<li>
This implies a balanced financial structure, with a reasonable proportion of debt and equity.
</li>
</ul>
<h3>Key Takeaways</h3>
For KKR in the Capital Markets industry, the PE and PB ratios suggest the stock is undervalued compared to peers, while the PS ratio indicates overvaluation. In terms of ROE, EBITDA, gross profit, and revenue growth, KKR outperforms industry peers, indicating strong financial health and growth potential.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Evaluating KKR Against Peers In Capital Markets Industry

Editor&#8217;s Note: The headline for this article has been updated.
According to a new report, German media company Axel Springer is considering an acquisition of The Wall Street Journal, expanding its already significant presence in the United States. The company currently owns Insider, Politico, <a href="http://benzinga.com/m-a/21/08/22680278/axel-springer-acquires-politico-in-reported-1b-deal">and other media assets.</a>
What Happened: Axel Springer CEO Mathias Döpfner has plans to grow the publisher in the United States, which comes at a time when media companies are deciding the role artificial intelligence could play in the <a href="https://www.benzinga.com/markets/equities/23/12/36226257/openai-global-publisher-axel-springer-collaborate-to-train-genai-for-journalism-content-creation">future of journalism</a>.
A report from <a href="https://www.semafor.com/article/04/21/2024/axel-springers-trump-years">Semafor </a>links Axel Springer to interest in acquiring The Wall Street Journal.
Axel Springer recently opened a new headquarters in the United States, which could be a sign of its growing ambitions in the country. A 2023 Economist <a href="https://www.economist.com/business/2023/02/23/axel-springer-is-going-all-in-on-america">report </a>also pointed to the media company looking to increase its presence in the United States.
The company could also be looking to spin off assets in Europe, moves that would come as it boosts its U.S. presence, and also to bring a return on investment to KKR &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), which is the largest shareholder in the company.
Döpfner is also a key owner of around 22% of the company.
Reports of a larger U.S. presence comes as one of the company's key American assets (Insider)<a href="https://www.benzinga.com/news/24/01/36572896/bill-ackman-axel-springer-controversy-brews-business-insider-faces-editorial-review-over-accusations"> is in conflict </a>with leading American investor Bill Ackman.
According to the report, Döpfner pushed to fire Nicholas Carlson, a Business Insider editor, over his coverage of Ackman's wife Neri Oxman.
The report indicates that while Axel Springer has publicly defended its coverage of Ackman's wife, private discussions indicate the company is considering some of Ackman's demands. The conversation centers on whether meeting Ackman&#8217;s conditions could circumvent a costly legal battle, with Ackman represented by the defamation law firm Clare Locke.
As the company pursues acquisitions in the U.S., the Ackman issue has the potential to divert significant time and financial resources, potentially impeding the company&#8217;s growth in America until the case is resolved.
Related Link: <a href="https://www.benzinga.com/news/24/01/36634863/business-insider-is-toast-bill-ackman-vows-to-unleash-hell-in-lawsuit-against-media-site-over-plagia">&#8216;Business Insider Is Toast:&#8217; Bill Ackman Vows To &#8216;Unleash Hell&#8217; In Lawsuit Against Media Site Over Plagiarism Claims Against Wife</a>
Why It's Important: The report on Axel Springer also hits on the company's relationship with people close to former President Donald Trump in years past.
Axel Springer worked to maintain a relationship with the Trump administration during his time in the White House.
The media company prides itself in trying to be neutral in politics coverage. A 2022 Washington Post <a href="https://www.washingtonpost.com/media/2022/09/06/mathias-dopfner-trump-email-axel-springer-politico/">story </a>that showed leaked emails in which Döpfner appeared to express support for the re-election of Trump, seemingly contradicting this stance. Döpfner later said he was being sarcastic.
"All media executives, including Mathias, take meetings and have professional relationships with business leaders, political figures and government officials who hold a wide array of political views – it's part of the job," an Axel Springer spokesperson told Semafor.
Axel Springer also has had a strong relationship with Richard Grenell in the past. Grenell is the former U.S. Ambassador to Germany and considered a potential Secretary of State candidate if Trump is re-elected.
With its past relationships with the Trump administration and potential expansion through further U.S. media acquisitions, Axel Springer may increasingly influence the landscape of American political coverage.
Read Next: <a href="https://www.benzinga.com/news/24/02/37393818/google-faces-2-3b-lawsuit-from-european-media-over-ad-practices">Google Faces $2.3B Lawsuit from European Media Over Ad Practices</a>
Photo: Shutterstock

Politics

Will Rupert Murdoch Dump The WSJ? Politico, Business Insider Owner Licks His Lips While Bill Ackman Battle Casts Huge Shadow (UPDATED)

Shares of banking and financial services stocks are trading higher as stocks across sectors rebound following recent weakness.

Financial giants have made a conspicuous bearish move on KKR. Our analysis of options history for KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $66,750, and 6 were calls, valued at $306,377.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $100.0 for KKR during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for KKR's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of KKR's whale trades within a strike price range from $80.0 to $100.0 in the last 30 days. 
<h3>KKR Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713376886_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$2.7</td>
<td>$2.45</td>
<td>$2.5</td>
<td>$94.00</td>
<td>$102.7K</td>
<td style="text-align: right;">30</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$23.7</td>
<td>$21.7</td>
<td>$22.04</td>
<td>$80.00</td>
<td>$58.7K</td>
<td style="text-align: right;">874</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$4.7</td>
<td>$4.4</td>
<td>$4.5</td>
<td>$95.00</td>
<td>$53.5K</td>
<td style="text-align: right;">152</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>KKR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$2.25</td>
<td>$2.15</td>
<td>$2.25</td>
<td>$95.00</td>
<td>$33.9K</td>
<td style="text-align: right;">24</td>
<td style="text-align: right;">154</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$8.4</td>
<td>$8.1</td>
<td>$8.3</td>
<td>$90.00</td>
<td>$33.2K</td>
<td style="text-align: right;">841</td>
<td style="text-align: right;">41</td>
</tr>
</tbody>
</table>

<h3>About KKR</h3>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
Following our analysis of the options activities associated with KKR, we pivot to a closer look at the company's own performance.
<h3>Where Is KKR Standing Right Now?</h3>
<ul>
<li>With a volume of 1,051,631, the price of KKR is down -0.06% at $96.23. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 19 days.</li>
</ul>
<h3>What Analysts Are Saying About KKR</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $125.4.
<ul>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for KKR, targeting a price of $113. </li>
<li>An analyst from TD Cowen persists with their Buy rating on KKR, maintaining a target price of $154. </li>
<li>An analyst from TD Cowen has decided to maintain their Buy rating on KKR, which currently sits at a price target of $144. </li>
<li>An analyst from Keefe, Bruyette &amp; Woods persists with their Outperform rating on KKR, maintaining a target price of $104. </li>
<li>Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on KKR with a target price of $112. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KKR options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Decoding KKR's Options Activity: What's the Big Picture?

Utility company PG&E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) is in talks with global investment firm KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) to secure funding aimed at upgrading its infrastructure and ...

PG&E (NYSE:PCG) Plans to Raise Funds, Sell Stake to KKR

KKR & Co. Non-GAAP EPS of $0.97 beats by $0.02

KKR Q1 earnings beat with healthy private equity, infrastructure returns

KKR & Co (KKR – Research Report), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Craig Siegenthaler from Bank ...

Siegenthaler Affirms Buy Rating on KKR & Co. Citing Strong Performance and High Growth Potential

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
KKR &amp; Co (NYSE:<a href="https://investorplace.com/stock-quotes/kkr-stock-quote/">KKR</a>) just reported results for the first quarter of 2024.<ul><li>KKR &amp; Co reported earnings per share of 97 cents. This was above the analyst estimate for EPS of 96 cents.</li><li>The company reported revenue of $1.39 billion.</li><li>This was 7.13% worse than the analyst estimate for revenue of $1.50 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/earning-results/2024/05/kkr-stock-earnings-kkr-co-for-q1-of-2024/">KKR Stock Earnings: KKR &amp; Co Beats EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

KKR Stock Earnings: KKR & Co Beats EPS, Misses Revenue for Q1 2024

KKR & Co. Inc. (KKR) Q1 2024 Earnings Call Transcript

Goldman Sachs analyst Alexander Blostein has reiterated their bullish stance on KKR stock, giving a Buy rating today. Alexander Blostein has given ...

Maintaining Buy Rating on KKR & Co.: A Positive Long-Term Trajectory Amid Robust Fundraising and Attractive Valuation

In a report released today, Brian McKenna from JMP Securities maintained a Buy rating on KKR & Co (KKR – Research Report), with a price target of $...

KKR & Co (KKR) Receives a Buy from JMP Securities

KBW analyst Kyle Voigt maintained a Buy rating on KKR & Co (KKR – Research Report) yesterday and set a price target of $116.00. The company's share...

KBW Reaffirms Their Buy Rating on KKR & Co (KKR)

Barclays analyst Benjamin Budish maintained a Buy rating on KKR & Co (KKR – Research Report) today and set a price target of $114.00. The company's...

Barclays Sticks to Its Buy Rating for KKR & Co (KKR)

Press Releases

Weave Living and KKR Establish Urban Living Strategic Partnership in South Korea

SunFire Announces Investment from KKR

Real Estate

Guesty Raises $130M to Accelerate Global Expansion

FSK Announces Earnings Release and Conference Call Schedule for First Quarter 2024

KKR & Co. Inc. to Announce First Quarter 2024 Results

KKR to Acquire $1.64 Billion Student Housing Portfolio from BREIT

KKR's Henry McVey Says Insurance CIOs Plan to Increase Allocations to Non-Traditional Assets

KKR & Co. Inc. Reports First Quarter 2024 Results

Global Atlantic 2024 Retirement Outlook Survey: Retirement Age Investors Value Asset Protection Over Growth

-

-

-

-

-

-

-

-

-

-

-

-

-

-

KKR Stock (NYSE:KKR), Short Interest Report

People Also Watch