Why Thomson Reuters Stock Topped the Market on Thursday
It's leaving the past behind, and investors cheered the move.
Overview
The divestment of a majority stake in a legacy business was the factor lifting Thomson Reuters (NASDAQ:TRI) stock above many others on Thursday. With that tailwind at its back, the business-focused media company's stock rose by more than 2% that trading session, on a day when the bellwether S&P 500 index only crept up by 0.2%.
That morning, Thomson Reuters announced that it had closed the sale of a 51% stake in its global print unit. The buyers are what the company described as "capital accounts," advised by the veteran private equity firm KKR (NYSE:KKR).
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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.