Shares of ratings agency Moody's (MCO) are lower in early trade after David Einhorn of Greenlight Capital Re (GLRE) discussed his firm's short position in the stock on the Greenlight Capital Q3 earnings call. According to Bloomberg, Einhorn confirmed that his firm has a short position in both Moody's and McGraw-Hill (MHP), the parent company of S&P, and added that the DoJ suit against S&P is a negative for the ratings agencies. In morning trading, shares of Moody's fell 75c, or 1.52%, to $47.83, while shares of McGraw-Hill slid 6c to $45.96.
- Investment & Company Information
- David Einhorn
- Greenlight Capital