New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2014
14:16 EDTMHFIMcGraw Hill Financial rallies after Q4 results and guidance
Shares of financial intelligence company and ratings provider McGraw Hill Financial (MHFI) are trading higher after the company's fourth quarter results surpassed analysts' expectations. The firm also introduced 2014 guidance. WHAT'S NEW: This morning, McGraw Hill Financial reported fourth quarter earnings per share of 81c on revenue of $1.25B, surpassing analysts' consensus estimates of 78c and $1.24B, respectively. The company also introduced fiscal year 2014 guidance of mid-teen earnings per share growth to $3.75 to $3.85, against analysts' consensus estimate of $3.75. McGraw Hill Financial also gave FY14 revenue guidance of mid single-digit growth and said it expects free cash flow for 2014 of approximately $1B. The company's president and chief executive officer Douglas Peterson commented, "2013 has been a momentous year for the company as we transformed McGraw Hill Financial into a more profitable, more growth-oriented company." He continued, "My focus will be on enhancing our customers' experience, thoughtfully broadening our presence in international markets, and delivering strong financial performance based both upon revenue growth and cost control." PRICE ACTION: In afternoon trading, McGraw Hill Financial shares are off their highs but still up about 3% to $76.57 on almost twice their average daily trading volume.
News For MHFI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 28, 2015
11:05 EDTMHFIS&P nears $1.37B settlement with states, DOJ, WSJ reports
Subscribe for More Information
10:34 EDTMHFIS&P nearing $1.37B settlement with states and DOJ, DJ reports
Dow Jones cites sources, who say a settlement could be announced as soon as tomorrow.
January 21, 2015
11:02 EDTMHFIS&P near to $1.4B settlement on subprime ratings probe, Bloomberg says
S&P may settle subprime mortgage suits as early as next week, added Bloomberg. The S&P settlement is separate from the SEC probe into CMBS, according to Bloomberg.
10:58 EDTMHFIS&P near to $1.4B settlement on subprime ratings probe, Bloomberg says
Subscribe for More Information
09:12 EDTMHFIS&P Ratings Services reaches settlements with SEC, Attorney Generals of NY, Mass
Subscribe for More Information
09:08 EDTMHFINew York AG joins SEC in settlement with Standard and Poor's
Subscribe for More Information
09:07 EDTMHFIS&P to pay $58M to settle SEC charges
Subscribe for More Information
09:06 EDTMHFISEC announces charges against S&P for fraudulent ratings misconduct
The Securities and Exchange Commission announced a series of federal securities law violations by Standard & Poorís Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities. S&P agreed to pay more than $58M to settle the SECís charges, plus an additional $19M to settle parallel cases announced by the New York Attorney Generalís office -- $12M -- and the Massachusetts Attorney Generalís office -- $7M. The SEC issued three orders instituting settled administrative proceedings against S&P. One order, in which S&P made certain admissions, addressed S&Pís practices in its conduit fusion CMBS ratings methodology. S&Pís public disclosures affirmatively misrepresented that it was using one approach when it actually used a different methodology in 2011 to rate six conduit fusion CMBS transactions and issue preliminary ratings on two more transactions. As part of this settlement, S&P agreed to take a one-year timeout from rating conduit fusion CMBS. In a separate order instituting a litigated administrative proceeding, the SEC Enforcement Division alleges that the former head of S&Pís CMBS Group fraudulently misrepresented the manner in which the firm calculated a critical aspect of certain CMBS ratings in 2011. Barbara Duka allegedly instituted the shift to more issuer-friendly ratings criteria, and the firm failed to properly disclose the less rigorous methodology. The matter against Duka will be scheduled for a public hearing before an administrative law judge for proceedings to adjudicate the Enforcement Divisionís allegations and determine what, if any, remedial actions are appropriate.
09:05 EDTMHFISEC announves charges against S&P for fraudulent ratings misconduct
Subscribe for More Information
January 20, 2015
15:29 EDTMHFIS&P may pay $1.5B to U.S to settle ratings issue, Reuters says
S&P in talks with U.S. Justice department and individual states over mortgage ratings, Reuters added.
14:43 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
Subscribe for More Information
14:16 EDTMHFIS&P said to be banned by SEC on rating some CMBSs for year, Bloomberg reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use