S&P Global Inc.(SPGI)- NYSE
  • Mar. 11, 2013, 4:57 AM
    Several legal and business experts believe S&P (MHP) will win its battle with the Justice Department over the ratings of mortgage bonds that collapsed in the financial crisis. Defense arguments that S&P can use include being not the only organization - including the Fed - to misread the signs of impending doom, and the lack of available witnesses. The DOJ has found some fairly damaging emails, but cases based on just this kind of evidence apparently rarely win out.
    | Mar. 11, 2013, 4:57 AM | 1 Comment
  • Feb. 20, 2013, 10:30 AM
    David Einhorn re-confirms his shorts in McGraw-Hill (MHP) and Moody's (MCO), saying the DOJ suit against S&P shows the companies' vulnerability. Speaking on the Greenlight Capital Re (GLRE) earnings call, Einhorn tells listeners Moody's was his biggest loser on the short side last year.
    | Feb. 20, 2013, 10:30 AM
  • Feb. 15, 2013, 10:33 AM

    Trying to keep this straight ... McGraw-Hill (MHP) gets a two-notch downgrade to Baa2 from Moody's in wake of the DOJ lawsuit. On a good note, Moody's says McGraw-Hill's liquidity position should "improve meaningfully" once the sale of the education division is complete.

    | Feb. 15, 2013, 10:33 AM | 1 Comment
  • Feb. 15, 2013, 5:29 AM
    The Justice Department's $5B lawsuit against S&P (MHP) over its mortgage-bond ratings may be weakened by inconsistency between the DOJ and the SEC. For example, the latter blamed the failure of AAA-rated Delphinus CDO 2007-1 on Mizuho Financial, and said the Japanese bank gave faulty information to S&P. Mizuho paid $127.5M to settle a lawsuit. The DOJ, though, puts blame on S&P.
    | Feb. 15, 2013, 5:29 AM | 3 Comments
  • Feb. 12, 2013, 6:02 PM

    Moody's (MCO) says it's authorized a new $1B share repurchase program. It expects to start buybacks under the new program once its existing program is complete. The company had $677M of share repurchase authority remaining as of the end of 2012. Shares +0.9% AH.

    | Feb. 12, 2013, 6:02 PM
  • Feb. 12, 2013, 7:26 AM

    More on McGraw-Hill (MHP) Q4 earnings: "Cherry-picked" emails chosen from more than 20M documents do not disprove S&P's CDO ratings were "made in good faith" through normal procedures and were consistent with not only with what other ratings agencies were saying, but also U.S. government officials (housing issue is "contained"). By all means, let's get Bernanke and Paulson on the stand! (PR)

    | Feb. 12, 2013, 7:26 AM | 2 Comments
  • Feb. 12, 2013, 7:16 AM
    McGraw-Hill (MHP): Q4 EPS of $0.72 in-line. Revenue of $1.23B misses by $0.37B.
    | Feb. 12, 2013, 7:16 AM
  • Feb. 12, 2013, 12:05 AM

    Notable earnings before Tuesday’s open: AB, AVP, DBD, FIS, FOSL, GT, HCP, HERO, HUN, KO, KORS, LVLT, MHP, MMC, OHI, OMC, RAI, SPR, TGH, TRP, UTHR, VAL, VNDA

    | Feb. 12, 2013, 12:05 AM
  • Feb. 11, 2013, 5:30 PM

    Notable earnings before Tuesday’s open: AB, AVP, DBD, FIS, FOSL, GT, HCP, HERO, HUN, KO, KORS, LVLT, MHP, MMC, OHI, OMC, RAI, SPR, TGH, TRP, UTHR, VAL, VNDA

    | Feb. 11, 2013, 5:30 PM
  • Feb. 8, 2013, 4:33 AM

    Not that there's a bandwagon or anything, but NY AG Eric Schneiderman is reportedly investigating S&P (MHP), Moody's (MCO) and Fitch (FMLCF.PK) over their ratings of mortgage bonds. Schneiderman is also looking at whether the firms implemented agreements in 2008 to make certain reforms, which they signed to settle an earlier inquiry but which expired in 2011 and could stymie the AG's ability to take fresh action.

    | Feb. 8, 2013, 4:33 AM | 2 Comments
  • Feb. 7, 2013, 10:12 AM
    The DOJ is readying a lawsuit against Moody's (MCO) for essentially the same charges as those leveled against S&P (MHP), according to BTIG's Mark Palmer, who suggests the companies face an existential threat from a fraud conviction.
    | Feb. 7, 2013, 10:12 AM | 5 Comments
  • Feb. 7, 2013, 8:21 AM

    S&P (MHP) hires stud white-collar trial attorney John Keker for its battle against the $5B DOJ lawsuit. His retention was recommended by noted 1st Amendement lawyer Floyd Abrams, who also represents S&P. Abrams: "We are going to be more than ready ... to have a trial."

    | Feb. 7, 2013, 8:21 AM | 2 Comments
  • Feb. 6, 2013, 12:55 PM

    There may be a reason S&P (MHP) didn't settle and instead wants its day in court, writes Jonathan Weil. A good part of the DOJ case rests on its contention CDO issuers - shops like Citigroup and BofA - were duped by S&P into thinking the products were worthy of a top rating. Good luck making that stick with a jury.

    | Feb. 6, 2013, 12:55 PM | 4 Comments
  • Feb. 6, 2013, 8:47 AM

    McGraw-Hill (MHP) and Moody's (MCO) are upgraded from Buy to We Really Mean Buy at Raymond James following the big selloffs in response to the lawsuits against S&P. Both stocks are up more than 1% in premarket trade. What we'd really like are the thoughts of Michael Price - a big bull on McGraw-Hill, especially its S&P business.

    | Feb. 6, 2013, 8:47 AM | 3 Comments
  • Feb. 6, 2013, 5:58 AM
    Ben Bernanke and other senior Fed officials had major concerns about ratings agencies in mid-2007, which marks part of the period that the Justice Department is focusing on in its $5B lawsuit against S&P (MHP) for inflated ratings. Bernanke spoke of "a loss of investor confidence" in the firms, while William Dudley warned that flawed ratings could be masking "significant market risk."
    | Feb. 6, 2013, 5:58 AM | 7 Comments
  • Feb. 5, 2013, 11:52 AM

    Joining the DOJ in filing sut aginst S&P (MHP -5.6%) are a number of states, including California, where AG Harris is suing under the state's False Claims Act. This would allow CA to collect triple damages on what it says were $1B in losses. Earlier joining McGraw Hill in tanking, Moody's (MCO) - maybe enjoying the political protection of having The Oracle as an investor - returns to near-unchanged.

    | Feb. 5, 2013, 11:52 AM | 12 Comments
Company Description
S&P Global, Inc. is a content and analytics provider serving the capital, commodities and commercial markets. The capital markets include asset managers, banks, exchanges, issuers and financial advisors; the commodities markets include producers, traders and intermediaries within energy, metals,... More
Sector: Services
Country: United States