In this episode, Scott Becker breaks down five key market stories, including a rough day for stocks, private equity fund struggles, and surprising comebacks from companies like CVS and Intel.
Chapter 1: What are the key market stories today?
This is Scott Becker with the Becker Private Equity and Business Podcast. We're going to talk today about five different stories that we're watching today. I'll start with the first. Just the first is that the markets are tanking today, down about 1%. Let's hope that doesn't last all day. Let's hope it gets better.
Chapter 2: Why are private equity funds struggling this year?
We had a couple of good days in the market, which was a nice relief after the last couple of weeks. Second, four of the largest private equity funds that we watch are all having a tough year so far. KKR is down 22%. Blackstone is down 15%. Apollo Global Management is also down 15%. And TPG is also down 22% year to date.
Chapter 3: How is CVS performing in the market?
Again, those are constantly changing, but directionally, the private equity funds are having a tough year so far. Third, the big payers. Let's talk about the big payers. UnitedHealth is about flat year to date, but CVS is surging and up 47% year to date. That's after a tough year last year, but still an amazing recovery. And Cigna Healthcare is also up about 15%. Those are both going well.
Fourth, a couple of companies we talk about regularly that are two of the biggest losers over the last year. Stellantis slash Jeep down 56% plus over the last 52 weeks. Oatly, the oatmeal company, down 51% over the last year, but Oatly did rise 7% yesterday. Finally, fifth, Intel, which was a big loser last year, is rebounding this year. It rose another 7% yesterday, and it's up 28% year-to-date.
So those are five of the stories we're following. We'll also talk separately about American Eagle outfitters and share buybacks shortly on a different podcast. We'll also talk about the world's not binary. Again, this is not a discussion about gender. We're talking about binary opinions and thoughts. We'll talk about that next.
Thank you for listening to the Becker Private Equity and Business Podcast. Again, always feel free to text Scott Becker. Thoughts, topics, ideas, 773-766-5322. Thank you very much for joining us.