Diamonds and Dogs
2/4/2013The McGraw-Hill Companies Inc. (MHP)
McGraw-Hill is trading in the red today, down 13.34% at $50.56. The financial information service company saw shares crash after the S&P confirmed its Department of Justice lawsuit. McGraw-Hill said the Justice Department has plans for A CDO-ratings civil suit. The Justice Department is focusing its civil lawsuit on ratings (given by the S&P) in 2007 for certain U.S. collateralized debt obligations. McGraw-Hill said it regrets that the ratings system failed to fully anticipate the deteriorating conditions, but denies any wrong doing. The company hit its 52-week high on Friday, but lost nearly $8.00 today.
Panasonic Corporation (PC)
Panasonic is electric today, up 12.21% at $7.72. The electronics company saw its shares rally after managing to swing a profit by cutting costs. Panasonic reported a $667 million profit for its last quarter (October-December). The company had a loss of $2.1 billion for the same quarter a year earlier. Management stated that the profit can be attributed to cost cuts and growing sales in LED lighting and auto-related equipment. Panasonic has been struggling to create a profit as competition has increased from companies such as Apple and Samsung. The company is trading in the middle of its 52-week range of $4.61 to $9.46.