| Verisk Jumps After Being Named to Replace Joy Global in S&P 500 | |
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Verisk Analytics Inc., the provider of data to insurers and banks, climbed the most since July after the company was named to join the Standard & Poor’s 500 Index. Verisk rose $3.49, or 4.7 percent, to $77.40 at 10:27 a.m. in New York trading. S&P said Wednesday that the firm would replace Joy Global Inc., the world’s biggest manufacturer of underground mining equipment, in the index at the close of trading on Oct. 7. The data provider’s share price has more than tripled since its 2009 initial public offering as the Jersey City, New Jersey-based company pursued acquisitions to expand beyond its insurance roots. Chief Executive Officer Scott Stephenson in May purchased Wood Mackenzie for 1.85 billion pounds ($2.8 billion) to push into the energy and mining industries. More from Bloomberg.com: iPhone Screens Made This Hidden Entrepreneur $7 Billion “Our confidence in Verisk’s growth sustainability is rooted in its superior data, leading market position, commitment to long-term margin expansion, capable management and disciplined capital strategy,” Andrew Jeffrey and Oscar Turner, analysts at SunTrust Robinson Humphrey Inc., said in a note Thursday. Revision in the index may prompt money managers to shift holdings. More than $7 trillion is benchmarked to the gauge, according to the S&P website. Joy Global slipped 9 cents to $14.84, extending its loss for the year to about 68 percent. More from Bloomberg.com Read Verisk Jumps After Being Named to Replace Joy Global in S&P 500 on bloomberg.com
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Joy Global is a exploration company based in United states of america. Joy Global is listed in United States of America. Its market capitalisation is US$ 1.2 billions as of today (€ 1.2 billions). Its stock quote reached its lowest recent point on February 12, 2016 at US$ 10.26, and its highest recent level on April 05, 2017 at US$ 28.30. Joy Global has 43 700 000 shares outstanding. |