J.P. Morgan quant's 20 highest beta stocks in the S&P 500

Beta measures stock price volatility and a high-beta stock (with a beta above 1.0) tends to more risky with greater potential reward. Investors are now flocking to high-beta names after previously crowding into momentum stocks (due to megacap and AI fear of missing out) in January and low volatility in April (on worries about tariffs, a recession and AI overspending).

 

1. Super Micro Computer (SMCI), beta score 3.37
2. Coinbase Global (COIN), 2.82
3. Palantir Technologies (PLTR), 2.41
4. Monolithic Power Systems (MPWR), 2.39
5. Broadcom (AVGO), 2.35
6. Nvidia (NVDA), 2.32
7. Micron Technology (MU), 2.30
8. Western Digital (WDC), 2.19
9. Arista Networks (ANET), 2.17
10. AMD (AMD), 2.13
11. Dell (DELL), 2.08
12. Vistra (VST), 2.00
13. Lam Research (LRCX), 1.98
14. Microchip Technology (MCHP), 1.92
15. Crowdstrike (CRWD), 1.91
16. KKR (KKR), 1.90
17. Teradyne (TER), 1.88
18. KLA (KLAC), 1.87
19. Carnival (CCL), 1.87
20. Tesla (TSLA), 1.86

• by vol https://finviz.com/screener.ashx?v=211&ta=0&o=-volume&t=AMD,ANET,AVGO,CCL,COIN,CRWD,DELL,KKR,KLAC,LRCX,MCHP,MPWR,MU,NVDA,PLTR,SMCI,TER,TSLA,VST,WDC

     

     

     

 

                   

-=Cloudera (CLDR) to be acquired by Clayton, Dubilier & Rice and KKR for $16.00 per share

Cloudera to be acquired by Clayton, Dubilier & Rice and KKR for $5.3 bln ($16.00 in cash per share)

The co entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice ("CD&R") and KKR in an all cash transaction valued at approximately $5.3 billion. The transaction will result in Cloudera becoming a private company and is expected to close in the second half of 2021.

The Board of Directors of Cloudera (the "Board") has unanimously approved the transaction and recommends that the Cloudera shareholders approve the transaction and adopt the merger agreement. Entities related to Icahn Group, collectively holding approximately 18% of the outstanding shares of Cloudera common stock, have entered into a voting agreement pursuant to which they have agreed, among other things, to vote their shares of Cloudera common stock in favor of the transaction. The transaction delivers substantial value to Cloudera shareholders, who will receive $16.00 in cash per share, representing a 24% premium to the closing price as of May 28, 2021 and a 30% premium to the 30-day volume weighted average share price.

Closing of the deal is subject to customary closing conditions, including the approval of Cloudera shareholders and antitrust approval. The agreement includes a 30-day "go-shop" period expiring on [July 1], 2021, which allows the Board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties -- with an additional 10 days to negotiate a definitive agreement with qualifying parties. The Board will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement.

-= Walgreens Boots Alliance (WBA) to be acquired by KKR & Co. (KKR)?

• Bloomberg reported that KKR & Co. (KKR) made a formal approach to buy out the Dow component.

-=Envision Healthcare (EVHC) acquired by KKR (KKR) for $46.00/share

Envision Healthcare confirms deal to be acquired by KKR (KKR) for $46.00/share in cash, or approximately $9.9 bln 
The agreement represents the culmination of the Board's comprehensive review of strategic alternatives to enhance shareholder value. During the last seven months, the Board, with the assistance of three independent financial advisors and legal counsel, examined a full range of options to generate shareholder value, including capital structure alternatives, potential acquisitions, portfolio optimization, a potential sale of the whole company, and continued operation as a standalone business. The Board oversaw an extensive process that involved outreach to 25 potential buyers, including financial sponsors and strategic entities, and invited proposals for all or parts of the business. After consideration of the opportunities, risks and uncertainties facing the Company and the broader sector, as well as the alternatives available to the Company, the Board determined that the KKR proposal presented the best opportunity to maximize value for shareholders.

=KKR (KKR) reported earnings on Thur 3 May 2018 (b/o)

KKR beats by $0.24, beats on revs; Board approves plan to convert from partnership to corporation on July 1 

• Reports Q1 (Mar) after tax economic net income of $0.42 per share, excluding non-recurring items, $0.24 better than the Capital IQ Consensus of $0.18; revenues rose 1.8% year/year to $382.2 mln vs the $337.44 mln Capital IQ Consensus. After-tax Distributable Earnings was $304 million, or $0.37 per adjusted unit eligible for distribution.
• KKR's Board of Directors unanimously approves plan to convert from a partnership to a corporation, effective July 1, 2018. KKR expects to pay an annualized dividend of $0.50 per common share as a corporation and announces an increase in its available share repurchase authorization to $500 million, effective immediately.
• As of March 31, 2018, Assets Under Management and Fee Paying Assets Under Management were $176 billion and $120 billion, respectively, up 28% and 12%
• Peers: BX, CG

Barracuda Networks (CUDA) to be acquired by Thoma Bravo for $1.47 billion in cash

Update 4/12/22: KKR to acquire Barracuda Networks Inc. from Thoma Bravo; financial terms were not disclosed.

    

• Barracuda provides email protection tools and has been transitioning to cloud-based security from network hardware.
• Thoma Bravo in 2016 acquired Qlik Technologies, a data analytics software maker, for $3 billion.
• Thoma Bravo reportedly has kicked the tires at Impera as well as F5 Networks (FFIV), a maker of data center networking gear.

  

Nov 27 (Reuters) - Barracuda Networks Inc on Monday agreed to be taken private by buyout firm Thoma Bravo LLC for $1.47 billion in cash, four years after the data security firm went public.

The offer of $27.55 per share represents a premium of 16.3 percent to Barracuda's Friday close. The company's shares were trading at $27.51.

Barracuda, which manages data security of its customers over the cloud on a subscription basis, competes with Palo Alto Networks Inc, Proofpoint Inc and Symantec Corp .

Barracuda will operate as a privately-held company and continue to focus on email security and data protection services. The transaction is expected to close by the end of February.

Thoma Bravo, known for its investments in software and technology companies, has spent billions buying several listed companies such as Qlik Technologies, Riverbed Technology, SolarWinds and Compuware.

Morgan Stanley & Co LLC is Barracuda's financial adviser, while Goldman Sachs & Co LLC, Credit Suisse and UBS Investment Bank were advisers to Thoma Bravo.

=KKR (KKR) reported earnings on Thur 26 Oct 2017 (b/o)

KKR misses by $0.06

• Reports Q3 (Sep) economic net income of $0.36 per share, $0.06 worse than the Capital IQ Consensus of $0.42. 
• After-tax Distributable Earnings and After-tax Distributable Earnings per adjusted unit eligible for distribution were $464.5 million and $0.57, respectively, for the quarter ended September 30, 2017.
• Book value was $11.2 billion as of September 30, 2017 or $13.80 per outstanding adjusted unit
• As of September 30, 2017, Assets Under Management ("AUM") and Fee Paying Assets Under Management ("FPAUM") were $153 billion and $114 billion, respectively, up 17% and 22%, respectively, compared to September 30, 2016. New fee paying capital raised exceeded $37 billion over the past 12 months on an organic basis

PharMerica (PMC) to be acquired by KKR (KKR) for $29.25/share

PharMerica (PMC) to be acquired by KKR (KKR) for $29.25/share in cash. (2 Aug 2017)

    

 

Louisville, KY-based PharMerica Inc. has reached a definitive agreement to be acquired for $1.4 billion.

The institutional pharmacy provider is being bought by a new company controlled by KKR & Co. L.P., a New York City-based private-equity firm, with Deerfield, Ill.-based Walgreens Boots Alliance Inc. as a minority investor.

The all-cash deal includes the assumption of PharMerica's debt. When the transaction is complete — expected in early 2018 — PharMerica will become a private company.

PharMerica shareholders will receive $29.25 in cash per share of PharMerica common stock, the release states. The stock closed Tuesday at $25.05, so the acquisition prices is a 17 percent premium.

“With the support of KKR and a strategic partner in Walgreens Boots Alliance, PharMerica will have additional resources and expertise to advance and grow the business," PharMerica CEO Gregory Weishar said in the release.

Alex Gourlay, Walgreens Boots Alliance co-chief operating officer, said the merger represented an opportunity for his company to expand into a growing segment of health care.

The PharMerica board of directors unanimously approved the sale. But the deal still requires PharMerica shareholder approval and regulatory approvals.

PharMerica was founded in 2006 through the merger of the institutional pharmacy business of Louisville-based Kindred Healthcare and AmerisourceBergen Corp.