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KKR & Co. Inc. KKR, -1.86% late Monday filed an initial public offering for its portfolio company BrightSpring Health Service Inc., a home health care service provider, to trade under the ticker BTSG on the Nasdaq. Goldman Sachs, KKR, Jefferies, Morgan Stanley, UBS, BofA Securities, Guggenheim Securities and Leerink Partners are underwriting the deal. The IPO is expected to raise about $1 billion, according to IPOScoop.com. BrightSpring reported a net loss of $149.63 million and revenue of $6.45 billion in ...

Verizon Communications Inc. shares eked out a 3% increase in 2023 to notch their first positive annual performance in five years. Could bigger gains be in store for 2024?KeyBanc Capital Markets analyst Brandon Nispel seems to think so, upgrading the telecommunications stock to overweight from sector weight late Tuesday. His price target of $45 implies more than 15% upside from Tuesday’s close of $38.88.Investors “are likely to see a deleveraging story with the potential for share repurchases” into 2025, Nis ...

Wall Street’s second day of 2024 is starting like the bumpy first day, as stock index futures drop, led by technology stocks.Steve Eisman, of “Big Short” fame and now portfolio manager at Neuberger Berman, told CNBC that he’s worried “everybody is coming into the year feeling too good.” Note, technology is one area the manager favors for 2024, with some Wall Street banks also hoping for more of what they saw in 2023. That may partly explain why Apple and tech stocks got hit so hard by the Barclay’s advice t ...

The Walt Disney Company DIS, +0.47% and activist investor ValueAct Capital Management L.P. said Wednesday they have entered an information-sharing agreement while the entertainment giant undergoes a transformation. The agreement will allow Disney to consult with the investment firm on strategic matter, including via meetings with the board and management. ValueAct will support the board’s recommended slate of nominees for election to the board at the 2024 annual meeting, the companies said in a joint state ...

Ford Motor Credit and Toyota Motor Corp. were among roughly a dozen big companies embarking on roughly $26.5 billion corporate bond-borrowing spree on the first trading day of 2024.Ford’s F, -0.25% financing arm, Toyota 7203, +1.35%, Duke Energy Corp. DUK, +0.79% and Deere & Co. DE, +0.26% were among the U.S. investment-grade companies rushing to raise fresh debt on Tuesday, according to Informa Global Markets.While the start of each year typically spurs a wave of corporate borrowing, this January also look ...

The semiconductor sector was suffering a unanimous selloff to start 2024, the day after posting the best yearly gain in 20 years. The VanEck Semiconductor ETF SMH, -3.29% slumped 3.3% in afternoon trading, with all 25 equity components trading lower. The ETF had run up 72.3% in 2023, the best year for the ETF since it soared a record 87.3% in 2003. Tuesday’s biggest decliner was Advanced Micro Devices Inc. AMD, -6.06% shares, which shed 6.1%. Intel’s stock INTC, -4.86% took a 4.8% hit, after rocketing 90.1 ...

JPMorgan Chase & Co.’s stock JPM, +0.89% is currently trading at $171.81, up about 1%. If the gains hold through the market close, the stock will hit a new all-time high for the first time since October 2021, according to Dow Jones Market Data. To set a record, the stock would have to close above $171.78, its closing level on Oct. 22, 2021. In the past year, JPMorgan has been buoyed by its acquisition of First Republic as well as profit momentum of larger banks over smaller regional banks. The stock rose a ...

Shares of electric vehicle makers traded mostly lower Tuesday, as delivery data fueled to spark investor interest following a stellar 2023 for the group.The Global X Autonomous & Electric Vehicles ETF DRIV dropped 1.1% in morning trading, after soaring 24.2% in 2023. The ETF underperformed the S&P 500 index SPX, which slipped 0.6% on Tuesday.Meanwhile, Tesla Inc.’s stock TSLA, +0.88% tacked on 0.5%, to reverse an earlier intraday loss of as much as 1.6%. The rally comes after the stock gave up 5% over the p ...

Tesla Inc. TSLA, -1.86% said Tuesday it delivered 484,507 vehicles in the fourth quarter, after producing 494,989. The FactSet consensus was for deliveries to total 473,000 vehicles for the period. For all of 2023, deliveries grew 38% to 1.81 million vehicles, while production was up 35% to 1.85 million. In the fourth quarter, the electric car maker delivered 461,538 Model 3/7 vehicles, and 22,969 other models. The company will post its full fourth-quarter earnings on Jan. 24. The stock was slightly higher ...