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Stock Market & Financial Investment News

News Breaks
July 24, 2014
06:43 EDTMCO, MHFIMcGraw Hill Financial regulatory risks look manageable, says Piper Jaffray
After McGraw Hill Financial (MHFI) disclosed receipt of a Wells Notice from the SEC, Piper Jaffray says the company's regulatory risks look manageable and that prior sell-offs on legal matters have presented buying opportunities. Piper does not believe peer Moody's (MCO) will be subject to the same investigation since it did not adjust its CDO ratings criteria in 2011. The firm keeps an Overweight rating on McGraw Hill Financial with an $87 price target.
News For MHFI;MCO From The Last 14 Days
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July 28, 2015
06:53 EDTMHFIMcGraw Hill Financial no longer a Top Pick at Barclays
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July 27, 2015
17:36 EDTMHFIOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
12:03 EDTMHFIOn The Fly: Top stock stories at midday
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07:34 EDTMHFIMcGraw Hill Financial reports Q2 Transaction revenue up 1% to $329M
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07:33 EDTMHFIMcGraw Hill Financial backs FY15 adjusted EPS $4.35-$4.45, consensus $4.44
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07:33 EDTMHFIMcGraw Hill Financial reports Q2 adjusted EPS $1.21, consensus $1.13
Reports Q2 revenue $1.34B, consensus $1.36B.
07:31 EDTMHFIMcGraw Hill Financial to acquire SNL Financial for $2.23B
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July 26, 2015
15:18 EDTMHFIMcGraw Hill in talks to acquire SNL Financial, Bloomberg says
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July 24, 2015
07:05 EDTMCOMoody's sees FY15 global MIS revenue up in mid single digit percent range
Global MIS revenue for full-year 2015 is still expected to increase in the mid-single-digit percent range. However, US revenue is now expected to increase in the low-double-digit percent range, while non-US revenue is now expected to be approximately flat. Within MIS, structured finance revenue is now expected to grow in the mid-single-digit percent range and public, project and infrastructure finance revenue is now expected to increase in the low-double-digit percent range. Global MA revenue for full-year 2015 is still expected to increase in the mid-single-digit percent range. Within MA, professional services revenue is now expected to decrease in the high-single-digit percent range. The effective tax rate is now expected to be approximately 31% to 32% and capital expenditures are now expected to be approximately $100 - $110 million.
07:05 EDTMCOMoody's still sees FY15 EPS $4.55-$4.65, consensus $4.61
Sees FY15 revenue growth in the mid single digit percent range, consensus $3.54B. Sees operating expense growth in the mid single digit percent range. Sees FY15 free cash flow approx. $1B, share repurchase approx. $1B.
07:04 EDTMCOMoody's reports Q2 adjusted EPS $1.28, consensus $1.22
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July 17, 2015
07:15 EDTMCOMoody's to hold a teleconference
Teleconference provides a discussion on the recently published 'Request for Comment: Global Higher Education Methodology" on July 17 at 11 am. Webcast Link

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