S&P Global Stock Jumps Nearly 8% After Completing Mobility Global Spinoff

The Motley Fool··Read original
2▲1 ▼1Impact / 5
Summary · why it matters

S&P Global shares rose nearly 8% on Wednesday after the company completed the spinoff of its automotive data and analysis unit, Mobility Global, into a separate publicly traded company. Existing S&P Global stockholders as of June 15 received one Mobility Global share for each S&P Global share they held. The move was accompanied by an analyst upgrade from Huber Research's Douglas Arthur, who raised his rating on S&P Global to neutral from underweight. Mobility Global, best known for its Carfax service, saw its shares fall almost 4% on their first day of trading. S&P Global plans to release recast financial information excluding the Mobility Global business on Monday, July 6.

Impact on assets 2

Information Technology▼
Mobility Global Inc.
MBGL
▼ NegativeCapitalrelevance

Mobility Global shares fell nearly 4% on their first day of trading after the spinoff.

Cloud & Digital Infrastructure▲
S&P Global Inc
SPGI
▲ PositiveCapitalrelevance

S&P Global completed the spinoff of Mobility Global, which is a financial/valuation event, and received an analyst upgrade.

Off-coverage companies 1

Huber Research Partnersi
Private± Mixedrelevance