Apollo Global Management (APO) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Company Participants Noah Gunn - Managing Director & Global Head of Investor RelationsMarc Rowan - Co-Founder, CEO & Chairman of the BoardJames Zelter - PresidentMartin Kelly - CFO & PartnerSteven Chubak - Managing DirectorAlexander Blostein - Managing DirectorPatrick Davitt - Partner Conference Call Participants Glenn Schorr - Senior Managing Director & Senior Research AnalystWilliam Katz - Senior Equity AnalystKen Worthington - ...

Tesla's (TSLA -0.48%) stock is undoubtedly risky, but then again, so are many other stocks on the market, and there's no such thing as a reward without risk. The question is whether the risk/reward calculation makes sense for Tesla stock. Here's one view on matters.Tesla looks and walks like a growth stockIt's easy to point at the stock's current valuation based on earnings, cash flow, and sales and quickly conclude that the stock is ridiculously overvalued. For example, here's a look at Tesla's enterprise ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

One analyst tracking the fortunes of Celsius Holdings (CELH -1.28%) is no longer enjoying the taste of the stock. He downgraded his recommendation on the natural ingredients energy drink maker, compounding that with a rather drastic price target cut. Is it time for investors to bail from the stock?Losing its fizz?In an update on the stock published toward the end of April, CFRA's Garrett Nelson changed his Celsius recommendation from "buy" to "sell," bypassing the middle-ground "hold" tag entirely. Accordin ...

Core Insights - JR Research is recognized as a top analyst in technology, software, and internet sectors, focusing on growth and GARP strategies [1] - The investment approach emphasizes identifying attractive risk/reward opportunities with robust price action to generate alpha above the S&P 500 [1][2] - The investment group Ultimate Growth Investing specializes in high-potential opportunities across various sectors with a focus on strong growth potential and contrarian plays [3] Investment Strategy - The strategy combines sharp price action analysis with fundamentals investing, avoiding overhyped stocks while targeting battered stocks with recovery potential [2] - The investment outlook is typically 18 to 24 months for the thesis to materialize, aiming for robust fundamentals and attractive valuations [3] Target Audience - The group is designed for investors looking to capitalize on growth stocks with strong fundamentals, buying momentum, and turnaround plays [3]

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

Company Overview - The S&P 500 index, which includes some of the largest and most profitable companies in the U.S., has faced pressure due to economic concerns [1] - Nike's stock is down nearly 70% from its peak, indicating fundamental issues within the business [3] Financial Performance - Nike's revenue has declined year-over-year for four consecutive fiscal quarters, with management expecting a mid-teens decline for the current fiscal quarter [3] - Despite sales pressures, Nike generated $5.3 billion in footwear sales in Q3, maintaining a significant lead over competitors [9] Strategic Challenges - Previous management under CEO John Donahoe made strategic errors, including a lack of product innovation and over-reliance on classic footwear franchises, leading to excessive discounts to clear inventory [4][5] - Nike's shift away from key retail partners during the pandemic has created distribution challenges, as consumers still prefer physical stores [5] Leadership and Future Outlook - Elliott Hill, a veteran of Nike, was appointed CEO in October 2022, with a focus on revitalizing the brand's connection to sports [6] - The company holds a strong brand presence and marketing strategy, which may help it recover and grow in the future [8] Market Position - Nike's partnerships with major sports leagues and endorsements from top athletes provide it with unmatched visibility in the market [9] - The current investment in Nike is characterized as high-risk/high-reward, with a price-to-earnings ratio near a 10-year low, suggesting potential for significant returns if the company can turn around its performance [10][11]

Core Viewpoint - The airline industry is currently facing challenges due to uncertainty from tariff plans, leading to reduced expectations from major airlines like United Airlines and Delta Air Lines. However, United Airlines is considered an excellent long-term investment opportunity despite near-term weaknesses [1][2]. Near-term Weakness - Airlines have lowered their full-year projections, with Delta not reaffirming its outlook and United indicating difficulty in meeting its forecast. United's management has provided a "recessionary environment" prediction for 2025 [2][3]. Earnings Forecast - United's unchanged "stable environment" forecast is $11.50 to $13.50 in adjusted diluted earnings per share, while the recessionary outlook predicts earnings of $7 to $9, acknowledging a potential prolonged economic slowdown [3][4]. Valuation and Debt Concerns - Even at the low end of the recession outlook, United's stock trades at 9.6 times 2025 earnings, indicating an attractive valuation despite concerns over its debt levels, which total $27.7 billion against a market cap of nearly $22 billion [5][6]. Free Cash Flow Expectations - Management anticipates being "near breakeven, but still positive" in terms of free cash flow in 2025, even under recessionary conditions [6]. Upside Potential - The worst-case scenario for 2025 still presents an attractive investment opportunity, with potential for significant multiple expansion if earnings fall within the $7 to $9 range, demonstrating financial resiliency [7]. Long-term Investment Thesis - The airline industry requires long-term investments, with United and Delta expected to cover their cost of capital, aided by disciplined capacity management in response to demand softness [8][10]. Competitive Positioning - United's focus on premium cabin customers and loyalty programs diversifies revenue streams, reducing reliance on main cabin revenue, which is more sensitive to economic changes [8]. Capacity Tightness - The slowdown in wide-body aircraft deliveries is expected to create capacity tightness in international travel, positioning United favorably in this segment [9]. Conclusion on Investment - Despite near-term economic challenges, United Airlines is viewed as a stock with long-term growth potential, significant upside, and limited downside, making it an attractive buy on dips [10][11].