Delta Air Lines Inc. executives said they are optimistic about inclusion in the Standard & Poor’s 500 Index, the benchmark gauge for U.S. equities, as they improve the carrier’s credit profile so it approaches investment grade.
Statoil ASA sold a tanker of Norwegian crude valued at about $63 million to BP Plc on May 9. The deal, along with six others so far this month, wasn’t subject to any oversight by financial authorities, yet would help establish the price for more than half the world’s oil.
Hedge funds’ returns have stayed “lackluster” this year, with the $2.3 trillion industry trailing the gains of the Standard & Poor’s 500 Index by about 10 percentage points, according to Goldman Sachs Group Inc.
Stonegate Mortgage Corp., the closely held lender that originated almost twice as much debt last quarter as in all of 2011, sold $115 million of common shares in a private offering to continue its expansion.
Apollo Global Management LLC is the top-performing stock among publicly traded alternative-asset managers as Chief Executive Officer Leon Black demonstrates that reaping gains from buyout holdings while raising new investment funds is the key to pleasing stockholders.