Nucor earnings beat by $0.08, revenue fell short of estimates
TORONTO - In a strategic move, Thomson Reuters (TSX/NYSE: NYSE:TRI), a leading provider of news and information for professional markets, has announced its decision to transfer its U.S. stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. The transition is expected to occur at the close of market on February 24, 2025, with shares beginning to trade on Nasdaq the following day. The company, currently valued at $79.17 billion, is trading near its 52-week high of $179.45, and according to InvestingPro analysis, appears to be trading above its Fair Value.
The company’s President and CEO, Steve Hasker, expressed enthusiasm for the move, stating, "We are delighted to be among the world’s largest and most innovative companies on Nasdaq." This change in listing venue aligns Thomson Reuters with other prominent tech-driven firms on the Nasdaq exchange. The company’s strong financial position is reflected in its "GREAT" financial health score from InvestingPro, which highlights its stable business model with notably low price volatility (Beta: 0.37) and a 37-year track record of consistent dividend payments.
Thomson Reuters emphasized that the transfer will not affect its listing on the Toronto Stock Exchange, where it will continue to trade under the ticker symbol "TRI". The company’s decision to switch exchanges is part of its forward-looking strategy, though it acknowledges that forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors seeking deeper insights can access comprehensive analysis and 14 additional ProTips through InvestingPro’s detailed research reports.
The company, known for its specialized software and insights serving various professional sectors such as legal, tax, accounting, and media, aims to ensure its common shares will be seamlessly transitioned for trading on the new exchange without any disruption for its shareholders.
The information regarding the listing transfer is based on a press release statement from Thomson Reuters. The company has not provided further details on the reasons behind the move or its potential impact on its inclusion in market indices. As with any corporate action, the transfer is subject to standard regulatory approvals and customary closing conditions.
In other recent news, Thomson Reuters, the global content and technology firm, has made significant moves to bolster its position in the market. The company launched a new $150 million Corporate Venture Capital Fund, named Thomson Reuters Ventures, following its initial $100 million fund in 2021. The fund aims to invest in early-stage technology companies, focusing on sectors such as Legal Technology, Tax & Accounting, Fintech, Risk Fraud & Compliance, and News & Media markets. The fund’s strategy aligns with the company’s broader "Build, Partner, Buy" approach, aiming to maintain its leadership by investing in businesses at the forefront of professional technology advancements.
Adding to these developments, Thomson Reuters also recently acquired SafeSend, a United States-based cloud-native technology provider, for $600 million in cash. The acquisition is expected to enhance the company’s offerings for tax and accounting professionals by integrating SafeSend’s automated solutions into their workflow. SafeSend, known for automating the final stages of tax return processes, has a significant industry presence with a client base that includes 70% of the top 500 accounting firms in the U.S.
These recent developments highlight Thomson Reuters’ commitment to innovation and customer value, with a focus on financial discipline and technologies addressing key professional challenges. The company continues to foster collaborations with visionary founders, essential for scaling transformative solutions and reinforcing its market position.
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