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.
Alibaba sell-off extends amid White House national security concerns📌
US Earnings Season Summary 🗽What the Latest FactSet Data Shows
US Open: US100 initiates rebound attempt 🗽Micron shares near ATH📈
Micron Surges on Record DRAM Pricing