S&P Global Inc. ($SPGI) Stock Forecast: Down 1.2% Today

What is S&P Global Inc.?

SPGI, also known as S&P Global Inc., operates as a primary provider of credit ratings, benchmarks, and analytics in global financial markets. The stock witnessed a notable decline amidst recent market activity.

Why is S&P Global Inc. going down?

SPGI stock is down 1.2% on Oct 17, 2024 14:36

• The decision by Landsvirkjun to terminate its rating partnership with Moody's and opt for exclusive collaboration with S&P Global Ratings might suggest a business setback for Moody's, potentially influencing investor confidence in SPGI.
• The selection of Eric Aboaf as CFO at S&P Global could have sparked apprehensions or uncertainties among investors, contributing to a negative sentiment surrounding the stock.
• The market's response seems linked to the potential impact of these recent events on SPGI's financial performance and competitive standing within the credit rating sector.

SPGI Price Chart

SPGI Technical Analysis

SPGI News

Landsvirkjun ends rating relationship with Moody's

Landsvirkjun has decided to engage services from only one international credit rating agency, S&P Global Ratings, and has accordingly terminated its agreement with Moody's. This decision follows a thorough review of Landsvirkjun's credit rating requirements.

https://www.globenewswire.com/news-release/2024/10/17/2964669/0/en/Landsvirkjun-ends-rating-relationship-with-Moody-s.html

S&P Global appoints Eric Aboaf as CFO - ETCFO

Prior to his role at State Street as CFO and Vice Chairman, Aboaf was CFO of Citizens Financial Group and held finance roles at Citigroup, including Treasurer. Earlier in his career, Aboaf was a partner at Bain & Company, co-leading its US financial services consulting practice.

https://cfo.economictimes.indiatimes.com/news/leadership/sp-global-appoints-eric-aboaf-as-cfo/114267816

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S&P Global Inc. Price History

28.07.2024 - SPGI Stock was down 0.2%

• The bearish movement in SPGI stock today could be attributed to:
• Rising expenses despite benefiting from acquisitions, which might have impacted profit margins negatively.
• The news of considering the sale of joint venture OSTTRA with CME Group could have led to uncertainty among investors, causing a sell-off.
• Hedge fund sentiment possibly shifting away from SPGI compared to other S&P 500 dividend aristocrats, affecting market confidence in the stock.
• Overall, these factors might have contributed to the bearish trend in SPGI's market movement today.

17.09.2024 - SPGI Stock was down 1.2%

• The decision by Landsvirkjun to terminate its rating partnership with Moody's and opt for exclusive collaboration with S&P Global Ratings might suggest a business setback for Moody's, potentially influencing investor confidence in SPGI.
• The selection of Eric Aboaf as CFO at S&P Global could have sparked apprehensions or uncertainties among investors, contributing to a negative sentiment surrounding the stock.
• The market's response seems linked to the potential impact of these recent events on SPGI's financial performance and competitive standing within the credit rating sector.

24.10.2023 - SPGI Stock was down 2.4%

• The bearish movement in SPGI today can be attributed to the following factors:
• 1. Treasury yields nudging higher: The increase in Treasury yields might have caused concerns among investors, leading to a sell-off in SPGI stock.
• 2. Profit-taking after significant gains: Despite outperforming the market over the past 10 years, SPGI has seen a substantial increase in its stock price in 2023. Some investors might have decided to take profits, resulting in a downward pressure on the stock.
• 3. Lack of positive news catalysts: While SPGI has been performing well, there might be a lack of recent positive news or catalysts to sustain the upward momentum. This could have contributed to the bearish movement in the stock.
• 4. Overall market sentiment: The broader market sentiment and investor sentiment towards the financial services industry could also have influenced the bearish movement in SPGI. If there is a general pessimism or cautiousness in the market, it can impact the stock negatively.

09.01.2024 - SPGI Stock was down 5.2%

• The bearish movement in SPGI's stock today can be attributed to its Q4 2023 earnings report, which showed a miss in earnings estimates. Despite a 7% year-on-year revenue growth, the adjusted EPS of $3.13 fell short of the consensus of $3.15. This disappointing performance likely led to a decrease in investor confidence and a subsequent decline in the stock price.

02.10.2023 - SPGI Stock was up 5.8%

• S&P Global raised its annual profit forecast, indicating strong growth in its Market Intelligence division.
• The company's Q3 profit increased and beat street estimates.
• The news about AI chatbots illegally using copyrighted news is not directly related to S&P Global's market movement.
• The article mentioning Venezuela crude oil imports does not have a direct impact on S&P Global's market movement.
• Based on the positive financial results and raised profit forecast, it is likely that S&P Global's bullish movement is a result of strong performance in its core business segments.

08.01.2024 - SPGI Stock was down 5.2%

• The bearish movement in SPGI's stock today can be attributed to its fourth-quarter results, which fell short of expectations. Despite reporting a 7% year-on-year revenue growth, the adjusted earnings per share (EPS) missed the consensus estimate. This disappointing performance likely led to a sell-off of the stock.
• SPGI reported Q4 revenue growth of 7% but missed the consensus estimate for adjusted EPS.
• The stock dropped after the company's fourth-quarter results were announced.
• The disappointing earnings likely prompted investors to sell off SPGI shares.
• No significant news or events related to other companies were mentioned that could have influenced SPGI's bearish movement.

08.01.2024 - SPGI Stock was down 6.8%

• The bearish movement in SPGI's stock today can be attributed to a combination of factors:
• 1. Earnings Miss: S&P Global Inc. reported fourth-quarter earnings that increased from last year but missed Street estimates. This could have disappointed investors and led to a negative sentiment towards the stock.
• 2. Credit Rating Revision: S&P Global Ratings revised the credit ratings of UPL, which may have raised concerns about the overall creditworthiness of companies in the market, including SPGI.
• 3. Market Conditions: The drop in futures and the rise in bond yields and oil prices could have created a risk-off sentiment among investors, leading to a sell-off in SPGI's stock.
• 4. Lack of Positive News: While there was news about USI being recognized for its sustainability efforts, there was no significant positive news directly related to SPGI. This lack of positive catalysts may have contributed to the bearish movement in the stock.

21.08.2023 - SPGI Stock was down 3.2%

• The bearish movement in SPGI could be attributed to the news of Independent Wealth Network Inc. making a new investment in the company. This might have raised concerns among investors about the company's future performance.
• Additionally, the survey revealing that Tesla owners are likely to shift to other auto companies if they decide to pivot from the brand could have had a negative impact on SPGI's stock, as it indicates potential shifts in consumer preferences.
• The offering of covered bonds by Landsbankinn hf. might have diverted investor attention and capital away from SPGI, leading to the bearish movement.
• The credit rating downgrade of Foot Locker to junk status could have created a negative sentiment in the market, affecting investor confidence and contributing to the overall bearish movement.

08.01.2024 - SPGI Stock was down 5.1%

• The bearish movement in SPGI's stock today could be attributed to a combination of factors:
• 1. Missed Q4 Earnings Estimates: S&P Global Inc. reported lower-than-expected earnings for the fourth quarter, which may have disappointed investors and led to a decline in the stock price.
• 2. Negative Credit Rating Revision: S&P Global Ratings revised the credit ratings of UPL, a company unrelated to SPGI, but the association with S&P Global Inc. might have caused some concerns among investors.
• 3. General Market Sentiment: The drop in US equity futures and the rise in bond yields, as mentioned in the article, could have influenced the overall sentiment in the market, leading to a bearish movement in SPGI's stock.
• 4. Profit Misses Street Estimates: Despite an increase in earnings compared to the previous year, S&P Global Inc.'s fourth-quarter profit fell short of Street estimates, which could have contributed to the bearish market movement.
• Overall, the combination of missed earnings estimates, negative credit rating revision, and general market sentiment likely played a role in the bearish movement of SPGI's stock today.

09.01.2024 - SPGI Stock was down 5.2%

• The bearish movement in SPGI's stock today can be attributed to the following factors:
• 1. Disappointing Q4 Earnings: Despite reporting a year-over-year increase in revenues, S&P Global's Q4 earnings fell short of estimates. The adjusted EPS of $3.13 missed the consensus of $3.15, leading to a negative sentiment among investors.
• 2. Market Reaction to Earnings: The market's reaction to S&P Global's earnings announcement was negative, as reflected in the stock's decline. Investors may have expected stronger financial results, causing them to sell off their positions and putting downward pressure on the stock price.
• 3. Profit-Taking: Some traders might have taken the opportunity to lock in profits after the stock's recent upward movement. This profit-taking activity could have contributed to the bearish movement observed today.
• 4. Lack of Clarity from Earnings Call: The absence of a summary for the earnings call suggests that there may have been no significant positive news or guidance provided during the call. This lack of clarity could have further dampened investor sentiment and contributed to the bearish market movement.
• Overall, the bearish movement in SPGI's stock today can be attributed to disappointing earnings results and a lack of positive catalysts from the earnings call. Investors may have reacted by selling off their positions and taking profits, leading to the downward pressure on the stock price.

08.01.2024 - SPGI Stock was down 5.4%

• The bearish movement in SPGI's stock today can be attributed to the following factors:
• 1. Disappointing Q4 earnings: SPGI reported adjusted earnings per share (EPS) of $3.13, missing the consensus estimate of $3.15. This underperformance may have led to a negative sentiment among investors, resulting in the bearish movement.
• 2. Mixed revenue growth: Although SPGI's revenue grew by 7% year-on-year to $3.15 billion, it slightly missed the consensus estimate of $3.13 billion. This could have contributed to the downward pressure on the stock.
• 3. Earnings surprises: The negative earnings surprise of -0.63% for the quarter ended December 2023 might have raised concerns about the company's future performance, leading to the bearish market movement.
• Overall, the combination of disappointing earnings, mixed revenue growth, and negative earnings surprises likely caused the bearish movement in SPGI's stock today.

23.07.2023 - SPGI Stock was up 2.4%

• The bullish movement of SPGI could be attributed to the positive performance of the Eurozone economy, as indicated by the Eurozone Economic Downturn Deepens In August article. This suggests that there is an overall improvement in the economic conditions, which can benefit a company like S&P Global.
• The article about dual-class stocks and S&P Global's decision to allow companies with unequal voting structures to belong to the S&P Composite 1500 may have caused some concerns among institutional investors. However, this news does not directly explain the bullish movement of SPGI.
• The article highlighting the strong historical performance of S&P Global over the past 10 years could have contributed to the positive sentiment surrounding the stock. It showcases the company's track record of outperforming the market, which could attract investors.
• The news about S&P Global Ratings downgrading several regional banks, including Bank of America and Wells Fargo, may have indirectly benefited SPGI. As a leading provider of credit ratings, S&P Global's actions can have a ripple effect on the market, potentially driving investors towards more reliable and trusted sources of financial information like S&P Global.