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S&P Global Challengers Class of 2008

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By Ben Steverman

S&P Global Challengers Class of 2008

Despite fears that global expansion is slowing, many companies around the world are finding ways to grow at a rapid pace. A recent report from Standard & Poor's identified companies "expected to emerge as challengers to the world's leading companies."

S&P zeroed in on medium-sized companies‚Äîgenerally with market values of $1 billion to $5 billion‚ because of their "strategic advantages." After surviving the risky startup phase, midsize outfits have more stability than smaller companies, but they often have better growth prospects than large, established companies, S&P said.

The 300 companies identified by S&P meet key criteria, including large increases in earnings, stock price, sales, and employee count over the past few years. Making the list doesn't necessarily mean these companies are good investments. Investing abroad has its pitfalls, and a company's ambitious growth plans can falter or fail to meet investor expectations.

Featured here are selections from the S&P Global Challengers Class of 2008.