Wed, Feb. 11, 7:06 AM
Tue, Feb. 10, 5:30 PM
Dec. 19, 2014, 5:36 PM
Nov. 12, 2014, 7:10 AM
Nov. 11, 2014, 5:30 PM
Oct. 13, 2014, 3:47 PM
- The fundamental story for Markit (MRKT +2.9%) is still intact and the valuation at 18x earnings is "compelling," says Morgan Stanley, upgrading the stock - down 15% since its summer IPO - to Outperform with $29 price target.
- "Key positives: 1) Markit is a leading global provider of information and technology services to the financial sector. 2) It serves a large, fragmented market, providing critical services that are more efficient for customers to outsource. 3) It has a stable business model with high recurring revenue and >90% renewal rates. 4) The financial profile is attractive, with mid-single-digit rev growth and ~$250M in annual FCF. 5) MRKT has an experienced management team."
Sep. 10, 2014, 5:16 AM
- Standard & Poor's (NYSE:MHFI) and Markit (NASDAQ:MRKT) have been narrowed down as the final bidders for Barclays' (NYSE:BCS) index business, which could go for more than $1B. Sources tell Reuters that a winner can be announced within weeks.
- Barclays launched the auction of its Index, Portfolio and Risk Solutions business this summer, which contains a basket of more than 98 major indexes, including the well-known U.S. Aggregate Bond Index.
- Previously: Bloomberg, Markit eyeing Barclays' fixed-income index unit
Aug. 13, 2014, 1:32 PM
- The fixed-income index unit of Barclays (BCS +0.2%) - containing widely used benchmarks for fixed-income portfolio managers - could go for about $1B, reports the WSJ, and rival financial data players Bloomberg and Markit (MRKT -2.7%) are among those sniffing around.
- Previously: Markit beats by $0.04, beats on revenue
Aug. 13, 2014, 7:10 AM
Jun. 26, 2014, 2:51 PM| Comment!
Jun. 19, 2014, 10:36 AM
- After earlier pricing 53.5M shares at $24 each, Markit (NASDAQ:MRKT) is changing hands at $26.44 in early action.
- Previously: Markit boosts size of IPO, prices at $24 per share
Jun. 19, 2014, 7:20 AM
- Financial-data provider Markit (MRKT) raises $1.3B after boosting the size of its offering to 53.5M shares from 45.7M, reports the WSJ, with the pricing of $24 at the midpoint of the expected range. The deal values the company at $4.3B.
- And who are we buying our Markit stock from? Wall Street's biggest banks - including BofA, Citigroup, Deutsche Bank, and Goldman - were the main sellers. The key buyer is the Canada Pension Plan Investment Board which expects to buy $450M worth of stock.
- Early rally? The $4.3B market value for Markit is about 10x 2013 earnings compared to 12x for MSCI, 13x for Verisk Analytics (VRSK), and 20x for IHS.
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