Sun, Jul. 26, 7:39 AM
- Deutsche Borse (OTCPK:DBOEY) is buying Germany-based foreign exchange trading platform 360T for €725M, in a bid to expand its business in the $5.3T-a-day currency trading market.
- The announcement wraps up an auction which saw CME Group (NASDAQ:CME) and Nasdaq OMX (NASDAQ:NDAQ) also compete for the forex trading venue.
- Deutsche Borse expects double-digit million euro revenue synergies in the medium-term from the deal and plans to finance the acquisition via a combination of debt and equity.
Thu, Jul. 23, 7:16 AM
Thu, Jul. 23, 7:03 AM
Thu, Jul. 23, 2:44 AM
- Under an unusual partnership of rivals, the New York Stock Exchange (NYSE:ICE) and Nasdaq OMX (NASDAQ:NDAQ) are planning an agreement to back up each other's closing auctions in the event of an outage similar to the nearly four-hour trading halt at NYSE earlier this month.
- The closing auction is perhaps the most valuable part of the day for many institutional investors because it sets important benchmark prices for stocks and is a good time to execute large orders.
Mon, Jun. 29, 5:01 PM
- Manulife (NYSE:MFC) has the greatest sensitivity to rising rates of all the picks on the list, says Barclays, which also sees upside potential even before rate liftoff, particularly as the insurer deploys excess capital.
- The Street is underestimating MGIC Investment's (NYSE:MTG) earnings growth trajectory in a subnormalized loss environment.
- Nasdaq OMX (NASDAQ:NDAQ) remains a top pick thanks to: 1) attractive valuation; 2) recurring and diversified revenue base; 3) strong free cash flow supporting capital returns.
- Prologis (NYSE:PLD) has strong earnings growth and compelling valuation compared to net asset value.
- Citigroup (NYSE:C) should outperform its big-cap peers thanks to: 1) Finally meaningful capital deployment after this year's CCAR; 2) increased focus on execution in core markets; 3) big footprint in faster-growing emerging markets; 4) utilization of the $48B DTA; 5) continued reduction in Citi Holdings.
- Also making the list: Prudential Financial (NYSE:PRU) and SVB Financial (NASDAQ:SIVB).
- Source: StreetInsider
Fri, Jun. 26, 5:37 PM
Sun, Jun. 7, 6:40 PM
- Early Bitcoin (COIN, OTCQB:BTCS) backer Overstock (NASDAQ:OSTK) has circulated a proposal among hedge funds, P-E firms, and other potential investors to sell a $25M private bond using the blockchain, the distributed public ledger that underpins Bitcoin and other cryptocurencies.
- Overstock CEO Patrick Byrne asserts in the proposal he "believes that cryptotechnology can do for the capital market what the internet has done for consumers." He adds Overstock might issue a bond worth less than $25M just to make one available.
- The effort comes a month after Nasdaq OMX (NASDAQ:NDAQ) announced it plans to use the blockchain to "expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform." Among other things, the Nasdaq claims using the blockchain's distributed ledger will "provide extensive integrity, audit ability, governance and transfer of ownership capabilities."
- Two months before that, Reuters reported IBM has held informal talks with central banks about launching a digital cash/payment system that relies on the blockchain to enable transactions for existing currencies, while removing the need for a bank or payment processor to clear them (and collect transaction fees along the way).
Thu, Apr. 23, 1:23 PM
- Non-GAAP diluted EPS of $0.80 up 2.6% from a year ago.
- $30M shares repurchased during the quarter, totaling $208M during the last four quarters. The board hiked its quarterly dividend by 67% to $0.25.
- Market Services revenue (37% of total) of $188M down from $208M a year ago.
- Derivatives revenue (9% of total) of $46M down $10M Y/Y driven by lower average net capture and industry volumes in U.S. options.
- Cash equities revenue (11% of total) of $59M up $2M Y/Y due to higher U.S. cash equity average capture and European industry volumes.
- Access and Broker Services revenue (12% of total) of $59M down $1M Y/Y.
- Information Services revenue (25% of total) of $125M up from $123M.
- Non-GAAP Operating expense guidance lowered to $1.085B-$1.11B from $1.12B-$1.15B due to restructuring program and forex.
- NDAQ +1.8%.
- Previously: NASDAQ beats by $0.02, misses on revenue
Thu, Apr. 23, 7:41 AM
Thu, Apr. 23, 7:08 AM
Tue, Apr. 14, 7:15 PM
- Goldman Sachs offers three criteria on how to pick stocks to short: Look for individual stocks with high valuations that have a tendency to underperform; take hints from mutual funds as they do a good job of selecting shorts; and look for stocks that are likely to move on company-specific factors and are less prone to moving with general market and sector trends.
- Among the overvalued stocks Goldman thinks could drop are CELG, ORLY and RHT; stocks underweight by mutual funds that could fall are HST, CTL and EQR; and likely to deviate from the broad market and their sectors are KLAC, JEC and COH.
- Rounding out Goldman's 19 stock recommendations that could reward short sellers: ARG, DO, DISCA, FLS, KSS, MOS, NDAQ, NVDA, TDC, WU.
Wed, Apr. 8, 8:22 AM
- Under the partnership, Nasdaq (NASDAQ:NDAQ) will assume responsibility for the calculation, dissemination, and commercialization of KBW's (NYSE:SF) indexes, and will work with KBW to promote the products and benchmarks globally.
- The previously named KBW indexes will now be named KBW Nasdaq.
- Source: Press Release
Thu, Mar. 26, 6:53 AM
Tue, Mar. 24, 4:02 AM
- Nasdaq OMX (NASDAQ:NDAQ) has agreed to provide New York-based startup Noble Markets with its X-stream trading system (used by more than 30 exchanges and marketplaces worldwide) to power a marketplace for trading Bitcoins (COIN, OTCQB:BTCS) and related digital-currency assets, WSJ reports.
- The agreement follows other Wall Street initiatives that could pave the way for financial institutions to own and trade digital currencies, including the NYSE's recent investment in Bitcoin exchange Coinbase.
Wed, Mar. 11, 4:02 PM
- Nasdaq OMX (NASDAQ:NDAQ) has secured support from the likes of ABN AMRO, Advantage Futures, Goldman Sachs, JPMorgan, Morgan Stanley, and Virtu Financial.
- "Our strategy is always to meet demand where competition is lacking, and our global benchmark product suite will provide commodity market participants across the planet with a new solution to meet their trading and hedging needs," says President Hans-Ole Jochumsen.
- Nasdaq Futures is expected to launch mid-2015, pending regulatory approval.
- Source: Press Release
Thu, Jan. 29, 7:22 AM
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