Msci Inc (NYSE: MSCI)
Msci Inc is having an incredible day in the pre-market hours today. Early this morning, news with regard to a potential takeover hit the wire, exciting investors. Since then, we've seen incredibly strong upward movement on the stock. Below, we'll talk about what we're seeing from MSCI, why, and what we'll be watching for ahead.
What We're Seeing From MSCI
As mentioned above, Msci Inc is having an very good time in the market at the moment. While the market hasn't yet opened for the day, the stock is trading up in a big way. In fact, MSCI is currently (9:16)trading at $108.50 per share after a gain of $12.57 per share (12.63%) thus far today.
Why The Stock Is Headed Up
As is nearly always the case, our partners at Trade Ideas were the first to alert us to the upward movement on MSCI. As soon as we received the alert, the CNA Finance team started digging to see why the stock was running for the top. In this particular case, the news pretty much jumped out at us. Ultimately, it has to do with a takeover offer.
At the moment, a rumor is coming down the wire that S&P Global offered to takeover MSCI. However, the news also says that MSCI has rejected the offer. Nonetheless, the news is exciting investors and causing the stock to climb.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MSCI. In particular, we're watching to see if anything changes with regard to the potential takeover. We'll continue to follow the story and bring the news to you as it breaks!
Update 10:55 - MSCI has been halted on the news and there is said to be more news pending. The halt happened at 10:55 when the stock was trading at $105.76 per share after a gain of $9.43 per share (9.79%) thus far today. We will continue to watch the story closely and bring the news to you as it breaks!
Update 11:19 - MSCI issues a statement with regard to the news above. According to the statement, this is all rumors. Here's what the company had to offer:
"We do not normally comment on rumors in the market, but in response to recent media reports regarding third party interest in MSCI, we believe such reports are incorrect. We are not in discussion with any third party, and we have not received any offer or indication of interest. We do not anticipate making any further comment regarding these rumors."
Update 12:15 - MSCI has given up most of the early morning gains surrounding takeover speculation. However, it seems to have hit the bottom on its ride down and looks to be holding onto a small piece of the profits. Currently the stock is trading at $98.43 per share after a gain of $2.10 per share (2.18%) thus far today.
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Flickr]