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S&P Global (SPGI) Unit to Construct Full-Time Innovation Lab
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Shares of S&P Global Inc. (SPGI - Free Report) have fared well in a year’s time. The stock has gained 35.6% compared with the industry’s rise of 27%.
Recently, at the Annual APPEC Conference in Singapore, the company announced collaboration between S&P Global Platts and Enterprise Singapore, which will develop innovative solutions within commodities supply chains.
S&P Global Platts, a division of S&P Global, is a leading independent provider of information as well as benchmark prices for the commodities and energy markets.
The first project will develop use cases for digitally capturing, verifying and reporting oil inventory data using market participants' views.
Additionally, S&P Global Platts has made investments to develop a full-time innovation lab in Singapore. The concentration will be on key market themes including blockchain and real-time analytics. Its innovation workshops will focus on exploring the use of blockchain, alternative data sets as well as new computational methods to trade and manage commodity portfolios.
James Rilett, head of innovation at S&P Global Platts, stated, "Our investment to create a dedicated innovation lab to catalyze the digitalization of commodity markets reflects our long-term commitment to Singapore and our aim to provide participants with innovative technology solutions that power the commodities markets of the future."
Considering S&P Global Platts’ reputation of successfully utilizing blockchain, the joint effort is expected to increase efficiencies and execution speed for Singapore's thriving commodities market participants. The partnership is expected to boost Platts revenues. Performance in the segment was strong in the last reported quarter with revenues increasing 7% on a year-over-year basis, courtesy of growth in the core subscription business.
The long-term expected earnings per share (three to five years) growth rate for Broadridge, WEX and NV5 Global is 10%, 15% and 20%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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S&P Global (SPGI) Unit to Construct Full-Time Innovation Lab
Shares of S&P Global Inc. (SPGI - Free Report) have fared well in a year’s time. The stock has gained 35.6% compared with the industry’s rise of 27%.
Recently, at the Annual APPEC Conference in Singapore, the company announced collaboration between S&P Global Platts and Enterprise Singapore, which will develop innovative solutions within commodities supply chains.
S&P Global Platts, a division of S&P Global, is a leading independent provider of information as well as benchmark prices for the commodities and energy markets.
The first project will develop use cases for digitally capturing, verifying and reporting oil inventory data using market participants' views.
Additionally, S&P Global Platts has made investments to develop a full-time innovation lab in Singapore. The concentration will be on key market themes including blockchain and real-time analytics. Its innovation workshops will focus on exploring the use of blockchain, alternative data sets as well as new computational methods to trade and manage commodity portfolios.
James Rilett, head of innovation at S&P Global Platts, stated, "Our investment to create a dedicated innovation lab to catalyze the digitalization of commodity markets reflects our long-term commitment to Singapore and our aim to provide participants with innovative technology solutions that power the commodities markets of the future."
S&P Global Inc. Revenue (TTM)
S&P Global Inc. Revenue (TTM) | S&P Global Inc. Quote
Our Take
Considering S&P Global Platts’ reputation of successfully utilizing blockchain, the joint effort is expected to increase efficiencies and execution speed for Singapore's thriving commodities market participants.
The partnership is expected to boost Platts revenues. Performance in the segment was strong in the last reported quarter with revenues increasing 7% on a year-over-year basis, courtesy of growth in the core subscription business.
Zacks Rank & Key Picks
S&P Global carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader Business Services Sector are Broadridge Financial Solutions, Inc (BR - Free Report) , WEX Inc. (WEX - Free Report) and NV5 Global, Inc. (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for Broadridge, WEX and NV5 Global is 10%, 15% and 20%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>