Why S&P Global Stock Zoomed Almost 8% Higher Today
It's now a smaller, more focused company.
Overview
As of Wednesday, S&P Global (NYSE: SPGI) is now -- theoretically at least -- a leaner and more efficient company. The financial information and data specialist's equity rose by nearly 8% on Hump Day after it completed a corporate spinoff; an analyst's upgrade also helped lift the share price.
That morning, S&P Global -- best known for managing the S&P family of stock indexes -- completed the spinoff of its automotive data and analysis unit, Mobility Global, into a separate, publicly traded company.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.