Sodexo (SW.FR) shares are gaining nearly 11% in today's session, climbing to their highest levels in more than three years, after the French company announced results for the first half of its fiscal year and plans to separate and list its Benefits&Rewards unit in 2024.
The financial results themselves managed to beat analyst consensus, largely due to the smooth implementation of the assumed restructuring process. According to analysts, the projected continuation of the earnings improvement trend, combined with the positive catalyst of the disconnection of part of the business, may support the company's performance in the broader term. Source: Sodexo
The listing of the newly separated business unit will be achieved through a distribution of shares to existing Sodexo shareholders.
Sodexo's results and comments on the company's planned business split. Source: Bloomberg
Sodexo (SW.FR) shares break out to levels not seen since 2020. Source: xStation 5. W1 interval.
US Open: Wall Street Starts September Under Pressure as Oil Returns to the Spotlight
Daily summary: Geopolitics and debt continue to weigh on valuations
US OPEN: Market Cornered After Jackson Hole
PG&E shares plunge 18% 🚩 Panic hits U.S. utility stocks exposed to wildfire liabilities