The takeover of NYSE Euronext (NYX +1.6%) should close within days, says IntercontinentalExchange (ICE +2.2%) CEO Jeff Sprecher on the earnings call. Last week, the closing had to be called off as the firms awaited the necessary stamps from European regulators.
Earlier, ICE reported Q3 EPS of $1.97 (net of merger-related costs), beating estimates by $0.12.
ICE also declared a Q4 dividend of $75M (roughly $1 per share), contingent on the closing of the NYSE deal, payable on Dec. 31 to shareholders of record on Dec. 16.
More on NYSE Euronext's (NYX) Q1: Results reflect "improved trading volumes in [the] European derivatives franchise." The company says "disciplined cost and capital management drove a rebound in earnings both Y/Y and Q/Q." Plan 14 cost savings through Q1 total $147M, meaning NYX has recognized 59% of the $250M in savings targeted by 2014. (PR)
More on NYSE Euronext (NYX) Q4 earnings: NYSE volume -25.2% Y/Y. Interest rate product trading -13.3% Y/Y. Two-year campaign to trim costs by $250M is started with $115M in cuts in 2012. Operating expenses -6% in Q4, helping to mitigate slowing volumes. (PR)
More on NYSE Euronext (NYX) Q3 results: Net profit -42% to $108M, with earnings hurt by lower trading volumes and a $20M loss on forex fluctuations. Declares Q4 cash dividend of $0.30/share. Shares +1.2% in Paris. (PR)
NYSE Euronext, a Delaware corporation, was organized on May 22, 2006 in anticipation of the combination of the businesses of NYSE Group, Inc., a Delaware corporation, and Euronext N.V., a company organized under the laws of the Netherlands. The combination was consummated on April 4, 2007. NYSE...More