S&P Global Confirms Capital IQ Separation Review Alongside Q3 Beat
SPGI sits 29% above its 52-week low of $360.945.
Summary
S&P Global formally confirmed a strategic review of alternatives, including a potential separation, for Capital IQ and associated data businesses — the bulk of Kensho Data & Platforms inside Market Intelligence. That converts September media speculation about a Capital IQ spinout into an official company process. Management said it expects to keep RatingsDirect, RatingsXpress and Enterprise Solutions, drawing the perimeter of what could be carved out. The Q3 numbers that accompany it were already out: adjusted EPS of $4.58 on revenue of $3.68B, with full-year adjusted EPS guidance raised to $17.70-$17.95 from $17.50-$17.75 and revenue growth guided to 7.4%-8.4%. Shares were up 3.18% pre-market at $464.98. The earnings call is at 8:30 AM EDT today, where the scope and timing of any separation should get more detail.
At the time of this announcement, SPGI was trading at $467.42 on NYSE in the Finance sector, with a market capitalization of approximately $132.9B. The 52-week trading range was $360.94 to $522.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.