Daily Brief United States: KKR & Co, Capri Holdings , Dropbox Inc, Signature Bank and more

• There are 3 changes for the S&P 500 INDEX, 7 changes for the S&P Midcap400 Index and 13 changes for the S&P SmallCap600 Index at the June rebalance.
• There is huge size to trade in KKR & Co (KKR US) and Crowdstrike Holdings (CRWD US) and both stocks were up big in the after-hours market.
• There has been positioning in some stocks recently but stocks including KKR & Co, RB Global and Texas Pacific Land could see further positioning in the next week.

• Tapestry is acquiring Capri, which owns Michael Kors, Versace, and Jimmy Choo
• FTC is scrutinizing the merger due to antitrust concerns in the affordable luxury market
• Capri’s deteriorating fundamentals may lead to a break price of $25 per share, with uncertain success of the acquisition

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points

• Dropbox was last pitched in August 2022 with nearly reached $1B FCF guidance for 2024
• Company hit a plateau with guidance for $957M to $997M in last earnings call, factoring in stock-based compensation resulting in over $620M in FCF on an $8.1B equity
• Despite recent drop in equity value, Dropbox offers higher earnings yield and potential upside in equity value compared to Box

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• High potential for additional recoveries with longer liquidation period
• Solvent receivership of Signature Bank offers compelling investment opportunity
• Potential for substantial upside for common equity, preferred equity, and unsecured bonds

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.