New York, Feb 12, 2026, 14:26 EST — Regular session
- S&P Global shares picked up in the afternoon, snapping a two-day losing streak.
- That decision comes right after a steep selloff triggered by lower-than-expected profit guidance for 2026.
- AI disruption jitters are on traders’ minds, but the ratings and index business remains robust.
S&P Global clawed back some ground on Thursday, with shares gaining 1.7% to close at $397.23. The stock bounced after a choppy start, trimming losses from its post-earnings slump earlier this week as buyers returned.
The stock rebounded after sliding 2.6% to $390.76 the previous day—well below the broader market, which barely moved. Volume spiked to more than twice its usual pace. 1
Why it matters now: S&P Global’s outlook has turned into a stress test for a segment investors long saw as rock-solid—think financial data, benchmarks, credit ratings—right as generative AI starts to challenge assumptions about how much pricing muscle these businesses can hang onto. 2
S&P Global posted fourth-quarter revenue of $3.916 billion on Tuesday, a 9% climb from last year. Adjusted diluted earnings per share came in at $4.30. Looking ahead, the company set its 2026 adjusted diluted EPS target between $19.40 and $19.65, with organic constant-currency revenue expected to rise 6% to 8%. CEO Martina Cheung described the “pace of AI integration” as “a leap forward.”
The company stated that adjusted results leave out items like merger costs and amortization tied to acquired intangibles. It also pointed to ongoing uncertainty regarding when the Mobility spin might happen. As for data, the plan is to release monthly billed issuance and exchange-traded derivatives figures on the 15th of each month—or the next business day—reporting one month behind.
Since the release, the stock’s behavior has echoed that of a software-and-services play, as investors largely looked past the quarter and zeroed in on S&P Global’s outlook for 2026, which calls for slower growth. 3
Stifel’s Shlomo Rosenbaum described the results as “mixed,” warning that the stock was “likely to be pressured.” He flagged weaker free cash flow than anticipated—cash remaining after capex—and guidance that fell short of the company’s own medium-term targets. 4
S&P Global’s reach runs from credit ratings to the S&P Dow Jones indices, making it something of a bellwether for the sector. When sentiment turns against the group, traders have been quick to scan Moody’s and Nasdaq for any signs of knock-on effects. 2
S&P Global’s shares yo-yoed from $381.88 up to $399.49 on Thursday. Investors wasted no time punishing so-called “defensive” data and analytics stocks after guidance missed the mark.
Still, there’s risk on the table. Should AI concerns continue to weigh on sector multiples, or if a slowdown in debt issuance squeezes ratings-driven transaction income, management could soon be under pressure from investors demanding more concrete proof that both growth and margins will stay resilient into 2026. 5
Next up for investors: data. S&P Global is set to post its initial January numbers for billed issuance and exchange-traded derivatives around Feb. 16—since the 15th lands on a weekend. The figures could offer the first hints at what’s ahead for the ratings pipeline.
