Apollo Global Rises on Yankees Deal, Webtoon Falls, Bending Spoons Gains

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

• Apollo Global (APO) shares are rallying on word that it's providing $2.6 billion of financing to the owners of the New York Yankees, the private capital giant’s largest investment to date in US sports. The deal between the Major League Baseball franchise and Apollo’s sports investment arm consists of debt and equity, according to a statement Tuesday that confirmed previous Bloomberg News reporting. Proceeds will be used to support the growth of the franchise and refinance existing debt.
• Webtoon Entertainment (WBTN) shares are down after the web comics platform gave an outlook for third-quarter revenue and adjusted Ebitda, both of which missing the average analyst estimate. The company also said it is buying a majority stake in Korean gaming studio RI Games Holdings for about $100 million.
• Bending Spoons (BSP) shares are rising, extending gains for a second consecutive session and hitting an all-time high, as Mizuho hikes its price target ahead of the company’s first earnings report after going public.

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