Welcome to our dedicated page for S&P Global news (Ticker: SPGI), a resource for investors and traders seeking the latest updates and insights on S&P Global stock.
S&P Global Inc. (NYSE: SPGI) is a leading provider of essential financial intelligence, empowering governments, businesses, and individuals with the right data, expertise, and connected technology to make decisions confidently. As the largest of the Big Three credit rating agencies, S&P Global provides a wide array of services including credit ratings, benchmarks, analytics, and workflow solutions that cater to the global capital, commodity, and automotive markets.
S&P Global Ratings is renowned for its financial research and analysis on stocks, bonds, and commodities. This segment remains the largest credit rating agency worldwide and is pivotal to the company’s profitability. Another significant segment, Market Intelligence, offers desktop, data, and advisory solutions, primarily targeting the financial services industry with platforms like Capital IQ Pro. This division was recently bolstered by the acquisition of Visible Alpha, enhancing its investment research and analytics capabilities.
In addition to these core areas, S&P Global encompasses Commodity Insights (including Platts), Mobility (with Carfax), and Indices (featuring the S&P 500® and Dow Jones Industrial Average®). The company's commitment to innovation and market leadership is further demonstrated through its strategic partnerships and acquisitions, such as the integration with CarNow to enhance automotive data analytics and customer engagement.
Recent news highlights include the integration of DigitalOcean Holdings Inc. into the S&P SmallCap 600, the enhanced oil sands production outlook by S&P Global Commodity Insights, and the strategic partnership between automotiveMastermind and CarNow. Moreover, the company's surveys and reports, like the one conducted with AARP on adult caregiving, showcase its role in addressing contemporary societal challenges.
Visit S&P Global for more information on their offerings and insights.
automotiveMastermind, a leading automotive data and technology provider, has unveiled enhancements to its Behavior Prediction Score (BPS) solution and redesigned the Customer Deal Sheet interface. The updates include new machine learning and predictive data algorithms that offer deeper consumer insights. The enhanced BPS introduces three new scores: in-market status, vehicle details, and deal score. These improvements help dealers identify priority customers, preferred vehicles, and potential transaction types.
The redesigned Customer Deal Sheet organizes these new scores with talk tracks in an optimized workflow for sales communication. This update aims to empower sales teams to create timely and effective outreach to prospects most likely to be in the market. The expanded BPS intelligence solution and Customer Deal Sheet are available at no additional cost to all Mastermind customers.
Crescent Energy Co. (NYSE:CRGY) is set to replace Perficient Inc. (NASD:PRFT) in the S&P SmallCap 600 index. This change will take effect prior to the opening of trading on Friday, October 4, 2024. The replacement is due to EQT Group's pending acquisition of Perficient, which is expected to close soon, subject to final conditions.
The index change details are as follows:
- Addition: Crescent Energy (CRGY) to the S&P SmallCap 600, classified under the Energy sector
- Deletion: Perficient (PRFT) from the S&P SmallCap 600, currently classified under the Information Technology sector
This modification in the S&P SmallCap 600 index composition reflects ongoing changes in the market landscape and corporate activities.
S&P Global (NYSE: SPGI) has announced its schedule for the release of third quarter 2024 financial results. The earnings will be issued via news release on Thursday, October 24, 2024, at approximately 7:15 a.m. Eastern Daylight Time. Following the release, a conference call and webcast will be held at 8:30 a.m. EDT on the same day.
The call will be hosted by key executives including Douglas L. Peterson (President and CEO), Christopher Craig (Interim CFO), Mark Grant (Senior VP, Investor Relations), and Martina Cheung (President of S&P Global Ratings). Notably, Ms. Cheung has been appointed as the new President and CEO of S&P Global, effective November 1, 2024.
S&P Global Mobility expects U.S. light vehicle sales in September to decline by approximately 12% year-over-year to 1.18 million units. However, this translates to a seasonally adjusted rate (SAAR) of 16.0 million units, up from 15.2 million in August. The auto demand environment remains consistent but unmotivated due to high interest rates and vehicle prices.
Dealer advertised inventory has leveled out since spring, reaching 2.88 million units at the end of August. With 2025 model year vehicles becoming more available, pressure to sell remaining 2024 stock will increase. S&P Global Mobility has lowered its 2024 U.S. sales outlook to 15.9 million units and North American production outlook to 15.5 million units.
Battery-electric vehicle (BEV) sales continue to show strong development, with share of sales above 8% in June and July. New BEV models like the Chevrolet Equinox EV and Honda Prologue are expected to drive further growth in the fourth quarter.
S&P Global Commodity Insights, through its Platts division, is launching the world's first daily carbon-accounted iron ore price assessments on September 30, 2024. This new offering includes:
- A daily carbon-accounted iron ore assessment incorporating the Platts global benchmark 62% Fe iron ore index (IODEX)
- A carbon intensity premium reflecting the cost of offsetting greenhouse gas emissions in mining and transportation
- Carbon intensity estimates for the iron ore supply chain
The launch aims to support the steel industry's decarbonization efforts and meet evolving regulatory requirements. This initiative complements Platts' existing Carbon-Accounted Steel Premium (CASP) offerings and addresses the significant carbon footprint of iron and steel production, which accounts for nearly 7% of global greenhouse gas emissions.
S&P Global (NYSE: SPGI) has announced its fourth quarter dividend for 2024. The Board of Directors approved a cash dividend of $0.91 per share, payable on December 11, 2024, to shareholders of record on November 26, 2024. This brings the annualized dividend rate to $3.64 per share. S&P Global has maintained a consistent dividend payment record since 1937 and is among the select few companies in the S&P 500® that have increased their dividend annually for over 50 years.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.0% annual gain for July 2024, down from 5.5% in the previous month. The 10-City and 20-City Composites saw annual increases of 6.8% and 5.9% respectively, both lower than the previous month. New York led with the highest annual gain of 8.8%, followed by Las Vegas (8.2%) and Los Angeles (7.2%).
The National Index has seen 14 consecutive record highs, accounting for seasonality. However, growth is decelerating, with all but two markets slowing down last month. Low-price tiers in most markets outperformed on 3 and 5-year horizons, with Tampa's low-price tier showing the best 5-year performance nationally at 88%.
Regionally, the Northeast remains the best performing market, followed by the Midwest. All markets in these regions recorded all-time highs. The South reported the slowest gains but includes five of the seven best-performing markets since 2020.
CARFAX reports that up to 89,000 cars may have suffered extensive water damage due to flooding from summer storms and hurricanes in the US. This adds to the estimated 454,000 water-damaged cars already on the road in 2023. Texas and Florida lead in the number of flood-damaged vehicles, but these cars often appear in unexpected states like Kentucky, Illinois, and Tennessee.
CARFAX warns that flooded cars can have serious mechanical, electrical, health, and safety issues, even if submerged briefly. They offer a free Flood Check® tool at carfax.com/flood to help consumers identify flood-damaged vehicles. CARFAX also provides seven signs of flooding to look for when considering a used car purchase, including damp carpets, musty odors, and rust around doors and under the dashboard.
S&P Global Market Intelligence has unveiled a suite of generative artificial intelligence (GenAI) solutions through the new Labs section of the S&P Capital IQ Pro platform. These innovations include:
- Transcripts Trending Topics for uncovering trends from earnings call transcripts
- News Sentiment for quantitative sentiment signals
- Transcripts Key Phrases for identifying significant topics in earnings calls
Additionally, S&P Capital IQ Pro introduced GenAI enhancements such as Market Summaries, Transcript Summarization, and GenAI Search. These tools aim to streamline research processes and simplify client workflows, leveraging advanced analytics and AI to provide actionable intelligence from vast amounts of financial data.
S&P Global Commodity Insights has been chosen by Conservation International, on behalf of the Kenyan government, to develop Kenya's REDD+ registry. This registry, set to be operational by Q2 2025, will track carbon credits from projects aimed at reducing deforestation and forest degradation. Kenya is positioning itself as a pioneer in Africa for creating a national registry of REDD+ projects.
The registry will utilize S&P Global's Environmental Registry, which is being relaunched with enhanced features for improved efficiency and user-friendliness. This development aligns with Kenya's climate goals and is expected to generate new revenue streams for the country and local communities. The project also highlights Africa's potential role in the global carbon credit market, with Kenya being a key player in voluntary carbon markets.
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