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Strategies & Market Trends : Young and Older Folk Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (391)	10/26/2021 8:54:17 PM
From: chowder	1 Recommendation Recommended By stardusting Read Replies (2) \| Respond to of 21804

Re: Old Folk Portfolio -- Add On Buy. Today I added to SPGI upon their earnings report this morning where they announced they beat earnings and revenue expectations, and then raised guidance going forward. -- A beat and raise. S&P Global raises synergies target on IHS Markit merger, improves guidance: Q3 Earnings Call Oct. 26, 2021 11:29 AM ET S&P Global Inc. (SPGI) By: Shweta Agarwal, SA News Editor grinvalds/iStock via Getty Images S&P Global ( SPGI +4.1%) jumps after reporting beat on both lines in its third quarter earnings results. Revenue of $2.09B (+13.0% Y/Y) beats by $100M. Ratings revenue increased 14% to $1.02B with gains in bank loan rating activities. Adjusted operating margin increased 250bps to 55.4%. Merger Update: The bull-run fuels up as the company appears close to receiving U.K. antitrust approval on the $44B merger of S&P Global and IHS Markit (NYSE: IHS). With merger expected to be closed in 2022, S&P Global Chief Executive Doug Peterson raised synergy targets for the transaction during the Q3 earnings conference call, citing the companies have made "substantial progress" with all regulators.Peterson now estimate that it will be $530 to $580M of cost synergies and $330 to $360M of revenue synergies. For 3Q21, S&P Global's corporate unallocated expense increased to $89M from $36M a year ago primarily due to $54M of expenses related to the pending IHS Markit merger. Non-GAAP EPS of $3.54 beats by $0.39; GAAP EPS of $3.30 beats by $0.18. ETF AUM was at $2.5T at the end of the quarter, up 43% from 3Q20.Raises 2021 Guidance: The company now expects its revenue to increase low double-digits. GAAP EPS guidance is expected to be in a range of $12.50 to $12.65. Non-GAAP EPS guidance increased by $0.50 to $0.55 to a new range of $13.50 to $13.65 vs. consensus of $13.19.