S&P Global - SPGI STOCK NEWS

S&P Global Ratings (SPGR), a division of S&P Global (NYSE: SPGI), has reached a settlement with the U.S. Securities and Exchange Commission (SEC) as part of an industry-wide investigation into off-channel communications. The settlement resolves violations of recordkeeping rules and involves SPGR agreeing to pay a penalty of USD 20 million. The SEC acknowledged SPGR's remedial actions and cooperation during the investigation. SPGR has expressed its commitment to regulatory compliance and maintaining the integrity of its ratings process. This matter was previously disclosed in S&P Global's public filings, and the company is pleased to have concluded the issue.

S&P Global Commodity Insights' Platts has launched the first-ever daily, physical spot market price assessments for South America lithium carbonate, effective September 2, 2024. The new Platts Lithium Triangle (LiT) price assessments aim to bring pricing transparency to an important lithium supply growth market, complementing existing battery metals prices across Asia, Americas, and Europe.

The assessments will reflect a minimum quality of 99.0% Li2CO3, with a minimum of five metric tons, loading 14 to 60 days forward, expressed in US dollars per metric ton. The Lithium Triangle, encompassing parts of Argentina, Bolivia, and Chile, is projected to be the largest contributor to global lithium supply growth over the next 5 years, with production expected to surpass 631,000 metric tons by 2028.

S&P Global Mobility reports a positive shift in automotive brand loyalty rates for the first half of 2024. The industry's brand loyalty rate stands at 52.5%, a 1.9 percentage point increase from 2023, marking the first year-over-year rise since 2020. More than half of all brands saw improvements of 1 percentage point or better, with mainstream and luxury brands increasing by 1.9 and 1.4 percentage points, respectively.

Key factors contributing to this growth include increased inventory levels and a strong pipeline of return-to-market households. However, the rise in brand loyalty has adversely affected conquest volume, with luxury brands experiencing a 6.4% decline and mainstream brands dropping 1% compared to the first half of 2023.

Tesla continues to lead in brand loyalty with a rate of 67.8%, while General Motors tops multi-brand manufacturers at 67.7%. The Lincoln Nautilus currently leads in model loyalty at 46.7%.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reached a new all-time high in June 2024, reporting a 5.4% annual gain, down from 5.9% in the previous month. The 10-City and 20-City Composites saw annual increases of 7.4% and 6.5% respectively. New York led with the highest annual gain of 9.0%, followed by San Diego (8.7%) and Las Vegas (8.5%). The month-over-month changes showed a decelerating trend, with the National Index posting a 0.2% increase after seasonal adjustment.

Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P DJI, noted that home prices continue to outpace inflation, with the National Index averaging 2.8% more than the Consumer Price Index. The analysis also revealed that in 75% of markets, lower-priced homes are appreciating faster than the overall market, potentially impacting affordability for first-time homebuyers.

S&P Global Mobility forecasts US light vehicle sales for August 2024 at 1.42 million units, up 7% year-over-year and 11% from July. This translates to a seasonally adjusted annual rate (SAAR) of 15.2 million units. Despite being one of the largest monthly volumes this year, the market is still seeking stronger growth.

Key points:

• New vehicle affordability remains the biggest obstacle to sales growth
• High interest rates and slow-to-recede vehicle prices result in high monthly payments
• Inventory and incentives are expected to improve, but show some volatility
• Battery-electric vehicle (BEV) share is expected to reach 8.1% in August
• BEV share is anticipated to progress in the coming months with new model launches

S&P Global Market Intelligence has launched an updated version of the Visible Alpha AI Monitor, offering insights into the growth and performance of 66 publicly-traded U.S. technology companies with AI exposure. Key findings include:

1. AI-exposed revenues are projected to grow from $410B in 2022 to nearly $780B by the end of 2025.

2. In 2023, AI-exposed revenues accounted for 24.5% of total revenues among monitored companies, with 82% coming from the top 10 firms.

3. Smaller companies showed improved performance relative to the top 10 in July.

The AI Monitor serves as a valuable tool for investment professionals, analysts, and corporate strategists to assess the AI landscape and identify potential growth opportunities in the rapidly evolving sector.

S&P Global (NYSE: SPGI) announced that Martina Cheung, President of S&P Global Ratings, will participate in the Barclays 22nd Annual Global Financial Services Conference on September 9, 2024 in New York. Cheung is scheduled to speak at 12:00 p.m. EDT in a 'fireside chat' format. The session will be webcast and may include forward-looking information.

This event provides an opportunity for investors and analysts to gain insights into S&P Global's operations and strategy. The company's participation in such high-profile financial conferences demonstrates its commitment to transparency and engagement with the investment community.

S&P Global (NYSE: SPGI) has completed the sale of its Fincentric business to Stellex Capital Management, a global private equity firm. The transaction, which does not have a material impact on S&P Global, follows the company's announced intent in February 2024 to explore strategic options for the business. Fincentric, formerly known as Markit Digital, became part of S&P Global following the merger with IHS Markit in 2022.

While financial terms were not disclosed, the transaction will include local closings in certain jurisdictions, expected to occur during the remainder of 2024 and into the first half of 2025. Jefferies acted as financial advisor and Davis Polk as legal advisor for S&P Global in this transaction.

The GEP Global Supply Chain Volatility Index for July 2024 indicates a significant weakening in demand for raw materials and semi-manufactured goods, signaling slowing economic growth. Key findings include:

- Global factory purchasing activity fell at the fastest rate since late 2023
- Asian factory demand weakened, with Chinese purchasing decreasing for the first time in nine months
- North American suppliers reported underutilized capacity, with Mexican manufacturers seeing lower input demand
- European manufacturing recession persisted, especially in Germany
- Global transportation costs reached a 21-month high, driven by Asia

The index suggests increasing spare capacity in worldwide supply chains, potentially supporting calls for the Federal Reserve to lower interest rates soon.