Assurant (AIZ), a global provider of risk management products and services, was one of the S&P 500’s top gainers on Wednesday. On October 18, Assurant opened the day higher and ended the day at the highest levels in two months.
The buying pressure increased for Assurant on Wednesday amid the announcement of management’s deal to acquire The Warranty Group. The Warranty Group is a global provider of warranty solutions and related benefits. On October 18, Assurant’s management announced that the company will buy The Warranty Group in a cash and stock deal for $1.9 billion. Management expects the move to increase Assurant’s international presence, especially in the vehicle protection space.
On October 18, Assurant rose 6.2% and closed the day at $101.80. The S&P 500 Financials sector rose 0.56%.
Nielsen Holdings (NLSN), a global information, data, and measurement company, was one of the S&P 500’s top gainers on October 18. On Wednesday, Nielsen Holdings opened the day higher and closed at the highest daily close in almost ten weeks.
Nielsen Holdings rose amid the announcement of its new service to track streaming services. Similar to tracking broadcast TV viewing stats, Nielsen Holdings plans to track the demographics and number of viewers for subscription-based streaming services. According to reports, Netflix (NFLX) already teamed up with Nielsen Holdings for its tracking service. Other major online streaming providers like Amazon (AMZN) and Hulu are expected to sign up in 2018.
On October 18, Nielsen Holdings rose 4.2% and closed the day at $41.69. The S&P 500 Industrials sector rose 0.07%.