2023-01-25 22:16:55

MARKET REPORT: Events giant at five-year high on break-up plan

Logo Daily Mail
Daily Mail
By John Abiona

Sharesin Ascential hit a six-month high as the events giant outlined its proposals to break up the business.

The FTSE 250 company behind the Cannes Lions advertising festival soared 26 per cent, or 54p, to 262p a level not seen since July last year after it said it will seek shareholder approval to float its digital operations in the US, sell a brand and keep the rest of the business listed in London.

Ascential first aired plans to separate in April as a way to create more value for shareholders.

The case for breaking up its business has been strengthened by double-digit revenue growth last year.

In a positive end to its financial year, Ascential said revenue and profit for 2022 were likely to have beaten market expectations.

As part of the proposals, Ascentials US-focused digital commerce arm would float in New York while the events business that includes Cannes Lions and Money 20/20 conferences would stay within the London-listed company.

And it wants to sell its trend forecasting firm WGSN.

Continue read on dailymail.co.uk

Logo Daily Mail
Business / FinanceBy Jane Denton2023-01-25 15:44:39
Publishing group Ascential has revealed plans to spin-off its digital arm. Ascential unveiled the plans to shareholders on Wednesday as it said it now...

Logo PR Newswire
TechnologyPress Release2023-01-25 10:00:00
NEW YORK, Jan. 25, 2023 /PRNewswire/ -- Event management as a service market insights - Vendors : 15+, Including Accelevents Inc, Active Network LLC, Arlo...

Logo Benzinga
Business / FinanceBy Anusuya Lahiri2023-01-25 15:07:18
Extreme Networks, Inc EXTR reported a second-quarter FY23 revenue growth of 13% year-on-year to $318.3 million, beating the consensus of $304.4 million....

Logo Nasdaq
Business / FinanceBy Rtt News2023-01-25 11:42:28
(RTTNews) - MarketAxess Holdings Inc. (MKTX) revealed a profit for its fourth quarter that increased from last year and beat the Street estimates. The...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-01-25 11:19:00
In this bear market, even posting great business results hasn't been enough to stop many companies with growth-dependent valuations from experiencing big...

Logo Nasdaq
Business / FinanceBy Fintel2023-01-25 21:21:26
Fintel reports that Millennium Management Llc has filed a 13G/A form with the SEC disclosing ownership of 2.12MM shares of Viewray Inc ( VRAY ). This...

Logo Daily Mail
Business / FinanceBy John Abiona2023-01-24 22:44:51
Shares in engineering group Senior stormed higher as it sounded a positive note on profit. The group, which rejoined the FTSE 250 this month and supplies...

Logo Nasdaq
Business / FinanceBy Fintel2023-01-25 00:11:41
Fintel reports that BlackRock Inc. has filed a 13G/A form with the SEC disclosing ownership of 3,885,439 shares of Huntington Ingalls Industries Inc ( HII )....

Logo Nasdaq
Business / FinanceBy Fintel2023-01-25 12:19:10
Fintel reports that Highbridge Capital Management Llc has filed a 13G/A form with the SEC disclosing ownership of 0.00MM shares of GigCapital5 Inc ( GIA )....

Logo PR Newswire
HOUSTON, Jan. 25, 2023 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced today that the Company's board of directors has declared a dividend of...

Logo Nasdaq
Business / FinanceBy Mt Newswires2023-01-25 21:07:32
Technology stocks pared most of their prior losses Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.3% while the Philadelphia...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-01-25 13:00:00
It probably goes without saying that Peloton Interactive (NASDAQ: PTON) has dealt with more than its fair share of troubles over the past year. The...

Logo Nasdaq
Business / FinanceBy Mt Newswires2023-01-25 18:54:43
Technology stocks continue to weigh on the broader markets Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.9% while the...

Logo PR Newswire
BLUE BELL, Pa., Jan. 25, 2023 /PRNewswire/ -- CCI Consulting, a Career Partners International Firm and leading HR and Talent Management Consultant in...

Logo Nasdaq
Business / FinanceBy Bnk Invest2023-01-25 20:25:04
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Procter & Gamble Company (Symbol: PG), where...

Logo NewsFileCorp
Press Release2023-01-25 12:45:00
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2023) - MediaValet Inc. (TSX: MVP) (the Company), a leading provider of enterprise digital asset...

Logo Daily Mail
Business / FinanceBy Daily2023-01-25 22:08:39
The boss of Crew Clothing has declared that Britains High Street is by no means dead after shoppers bought Christmas party outfits in droves. The British...

Logo Benzinga
Business / FinanceBy Business Wire2023-01-25 20:22:00
Annual MSP 501 Identifies Industry's Best-in-Class Businesses Growing Via Recurring Revenue and Innovation Uprite Services has been named one of the world's...

Logo Nasdaq
Business / FinanceBy Fintel2023-01-25 00:11:46
Fintel reports that BlackRock Inc. has filed a 13G form with the SEC disclosing ownership of 19,159,432 shares of Omnicom Group Inc. ( OMC ). This represents...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-01-25 18:16:55
What happened Amid January's broad-based rally in risk assets, certain cryptocurrencies have benefited more than others. Among the leaders in terms of...