Why S&P Global Stock Bumped Higher Today
It's apparently mulling a significant divestment.
Overview
A potential spin-off of a key business unit was the development that pushed S&P Global (NYSE: SPGI) stock slightly higher on Tuesday. Shares of the company behind the famous family of stock indexes rose by 1%. Interestingly, this was more than sufficient to beat its own S&P 500 index, which fell slightly on the day.
Early that afternoon, Bloomberg reported that S&P Global's management is considering carving out Capital IQ Pro, its data and research platform, perhaps into a separate, publicly traded company. Citing unnamed "people familiar with the matter," the financial news agency added that the company was in the early stages of considering such a move.
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Originally published at www.fool.com.