IHS Markit Ltd.(INFO)- NASDAQ
  • Wed, Jul. 20, 2:21 PM
    • IHS Markit (INFO -1.8%) and the International Swaps & Derivatives Association have wrapped a long antitrust investigation into credit-default swaps with a European settlement.
    • That's the last vestige of a probe that once touched big banks including Goldman Sachs and JPMorgan Chase. Those banks were dropped from the case for lack of evidence that they conspired to stop exchanges from competing in the credit-default swap market; ISDA and IHS Markit were added three years ago.
    • The two gave pledges to the European Commission on fairly licensing intellectual property over the next 10 years. They'll exclude CDS dealers from taking or influencing individual licensing decisions. And they'll be subject to fines for any breaches of the settlement's terms.
    | Wed, Jul. 20, 2:21 PM
  • Wed, Jul. 13, 2:04 PM
    • IHS Markit (NASDAQ:INFO) reports guidance for FY16 incl. 12 months of IHS and 4.5 months of Markit.
    • Revenue to be in the range of $2.735B-$2.765B; Markit contribution of $445M -$455M.
    • Adj. EBITDA of $975M-$995M; Markit contribution of $190M-$200M.
    • Adj. EPS of $1.72-$1.78.
    | Wed, Jul. 13, 2:04 PM
  • Tue, Jul. 12, 4:39 PM
    • IHS (IHS +1.1%) and Markit (MRKT +0.6%) have closed their $13B merger to become IHS Markit (NASDAQ:INFO).
    • Shares will begin trading under their new symbol tomorrow on Nasdaq.
    • IHS stockholders will receive 3.5566 common shares of IHS Markit in exchange for each share of IHS common stock.
    • The board will now consist of 11 members: Dinyar Devitre, Ruann Ernst, William Ford, Balakrishnan Iyer, Robert Kelly, Deborah McWhinney, Jean-Paul Montupet, Richard Roedel, James Rosenthal, Jerre Stead (chairman and CEO of the combination) and Lance Uggla (president of the combination).
    • A conference call to discuss the wrapped deal will come tomorrow at 8 a.m. ET.
    | Tue, Jul. 12, 4:39 PM
  • Tue, Jul. 12, 10:44 AM
    • Shareholders at both companies have approved the merger between IHS (IHS +0.7%) and Markit (MRKT +0.6%), creating a $13B market/financial data powerhouse when the deal closes today.
    • In separate special meetings, the companies' investors gave their OK to the deal. Some 84% of outstanding IHS shares and 91% of Markit shares were voted in favor.
    • The combined IHS Markit will redomicile in London (but retain some operations in Colorado, where IHS is headquartered) and trade on Nasdaq under the symbol INFO.
    • IHS shareholders will hold about 57% of the combined company, with Markit shareholders owning the other 43%.
    | Tue, Jul. 12, 10:44 AM
  • Tue, Jul. 5, 3:11 PM
    • IHS (IHS -1.6%) and Markit (MRKT -1.6%) say their trading symbol for the merged "IHS Markit" company will be INFO, on Nasdaq.
    • The two have planned a $13B merger at which point the company will redomicile in London (IHS is headquartered currently in Englewood, Colo.).
    • Both companies are holding special meetings on Monday to vote on merger-related details. Approvals mean the companies will complete the merger Tuesday (July 12), and expect to begin trading under INFO on Wednesday, July 13.
    | Tue, Jul. 5, 3:11 PM
  • Tue, Jun. 28, 9:47 AM
    • In the middle of pursuing a $13B merger with Markit (NASDAQ:MRKT), IHS is up 1.2% this morning after it posted fiscal Q2 results where it beat profit expectations and grew revenues 6%.
    • Net income dropped slightly on a headline basis. EBITDA of $201M beat an expected $191.1M.
    • Revenue by segment: Resources, $221.1M (down 6%); Transportation, $230.9M (up 21%); CMS, $135.9M (up 3%).
    • Cash flow from operations was $177M; free cash flow came to $148M.
    • It guided to full-year revenue at the lower end of its previous range of $2.3B-$2.38B (vs. consensus for $2.32B) including flat organic growth; EBITDA at "mid to upper end" of a range of $770M-$800M (vs. consensus for $785.4M) and EPS at "mid to upper end" of a range of $6.00-$6.30 (vs. expected $6.13).
    • Press Release
    | Tue, Jun. 28, 9:47 AM
  • Tue, Jun. 28, 6:01 AM
    • IHS (NYSE:IHS): FQ2 EPS of $1.60 beats by $0.12.
    • Revenue of $588M (+5.6% Y/Y) misses by $0.74M.
    • Press Release
    | Tue, Jun. 28, 6:01 AM
  • Mon, Jun. 27, 7:30 PM
    • IHS (IHS -3.1%) and Markit (MRKT -2.6%) have launched an exchange offer and consent solicitation for notes, in conjunction with their plans for a $13B merger of equals.
    • Markit's commenced an offer to exchange $750M of 5% notes due 2022 issued by IHS for a similar amount of new notes under the same terms to be issued by Markit, along with cash.
    • For each $1,000 in principal tendered by the early date, holders can receive $1,000 of the new IHS Markit notes and $5 in cash.
    • The move is intended to simplify capital structure after the companies merge and then redomicile overseas.
    | Mon, Jun. 27, 7:30 PM
  • Mon, Jun. 27, 5:30 PM
    | Mon, Jun. 27, 5:30 PM | 1 Comment
  • Wed, Jun. 1, 1:31 PM
    • IHS (IHS -1.8%) -- pursuing a $13B "merger of equals" with Markit (MRKT -0.8%) -- is selling its Operational Excellence & Risk Management business to Genstar Capital.
    • The carve-out transaction will result in an independent company that Genstar will re-brand by the end of the year and base in Chicago.
    • The private equity firm is partnering with Paul Marushka, previously president of Marsh ClearSight, on the deal. Marushka will serve as president and CEO of the new company.
    • The Operational Excellence & Risk Management unit has more than 2,500 customers and hundreds of thousands of individual users in highly regulated industries.
    | Wed, Jun. 1, 1:31 PM
  • Mon, May 16, 5:50 PM
    • IHS is reaffirming its full-year guidance as it continues to pursue a "merger of equals" with Markit (NASDAQ:MRKT).
    • For the full year, the company is forecasting revenues of $2.3B-$2.38B, EBITDA of $770M-$800M, and EPS of $6.00-$6.30, all in line with expectations.
    • In revenues, IHS expects 2-3% organic growth in subscription revenues, and neutral organic growth aside from that, for total organic revenue growth of 0-3%.
    • IHS will publicly reaffirm the guidance at 7:10 a.m. ET (11:10 a.m. GMT) tomorrow as part of an event at the Barclays Americas Select Franchise Conference in London. That will feature a joint fireside chat between Lance Uggla (chairman and CEO of Markit) and Jerre Stead (chairman and CEO of IHS).
    • The companies filed a joint proxy statement/prospectus this week.
    • Now read IHS And Markit Merger Analysis »
    | Mon, May 16, 5:50 PM
  • Tue, May 10, 7:07 AM
    • Markit (NASDAQ:MRKT): Q1 EPS of $0.35 misses by $0.01.
    • Revenue of $287.8M (+6.0% Y/Y) misses by $5.82M.
    • Press Release
    | Tue, May 10, 7:07 AM
  • Mon, May 9, 5:30 PM
  • Tue, Apr. 5, 2:50 PM
    | Tue, Apr. 5, 2:50 PM | 15 Comments
  • Wed, Mar. 23, 5:49 PM
    • In a down market today, IHS (IHS -3.2%) and Markit (MRKT -2.1%) gave back a bit of the sharp gains they marked following a plan to merge into a $13B research giant.
    • Since the all-stock deal was announced, IHS has gained 9.3% and Markit 13.9%. The two added to gains as a number of analysts bumped price targets yesterday.
    • There's some skepticism about the merits. Deutsche Bank, which raised its target on IHS yesterday to $131, says the deal still has strategic risks as too much diversification could hurt existing products: "We worry that in 3 years when the merger benefits are realized, the increased scope of the products being sold to the larger client list will dilute the sales focus."
    • Meanwhile, today SunTrust Robinson Humphrey downgraded IHS from Buy to Neutral and cut its price target to $130 from a previous $135. Shares of IHS closed today at $121.
    • Following the news, Standard & Poor's has affirmed its corporate credit rating of BB+ on IHS, with a stable outlook, but put its rating on the company's senior unsecured instruments on negative CreditWatch as it awaits more capital structure information. "IHS's good market positions and recurring revenue base are likely to result in consistent operating performance over the next 12 months," it says.
    • Previously: IHS up 1.5% post-merger deal as analysts boost price targets (Mar. 22 2016)
    • Previously: IHS +8%, Markit +12% on plans to merge into $13B firm (Mar. 21 2016)
    | Wed, Mar. 23, 5:49 PM
  • Tue, Mar. 22, 11:00 AM
    • IHS is up 1.5%, building slightly on yesterday's 10%-plus gain fueled by strong earnings and a $13B merger plan, as analysts stack up to raise price targets on the stock.
    • The company's plan to merge with Markit in an all-stock deal and redomicile in London came alonside fiscal Q1 earnings where the company beat expectations on top and bottom lines.
    • Most firms have a Neutal rating on the stock; Stifel Nicolaus rates it a Buy and raised its target to $140, implying 13% upside from today's price of $123.93.
    • Deutsche Bank, Barclays and Piper Jaffray hold Neutral ratings and raised their price targets respectively to $131, $127 and $123.
    • For its part, Credit Suisse has reiterated its Hold rating and a $122 price target that's been surpassed out of the open today.
    • Markit (NASDAQ:MRKT), meanwhile, is up 1.1% alongside its own price target hikes. Barclays (Equal Weight) raised its target to $35 from $30, while Deutsche Bank (Buy) raised its target from $34 to $37, implying just over 9% upside from here.
    • Previously: IHS +8%, Markit +12% on plans to merge into $13B firm (Mar. 21 2016)
    • Previously: IHS, Markit in $13B "merger of equals" (Mar. 21 2016)
    | Tue, Mar. 22, 11:00 AM
Company Description
Markit Ltd. is a holding company, which provides financial information services. It operates through the following segments: Information, Processing, and Solutions. The Information segment provides enriched content comprising pricing and reference data, indices and valuation, and trading... More
Sector: Technology
Industry: Application Software
Country: United States