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Stock Market & Financial Investment News

News Breaks
February 5, 2013
14:45 EDTICE, NYXEarnings Preview: ICE to report results after NYSE deal
Global futures exchange operator IntercontinentalExchange (ICE) is expected to report Q4 earnings before the open on Wednesday February 6, with a conference call scheduled for 8:30 am ET... EXPECTATIONS: Analysts are looking for earnings per share of $1.75 on revenue of $322.05M. The consensus range is $1.66-$1.84 for EPS on revenue of $312.42M-$334.81M, according to First Call... LAST QUARTER: IntercontinentalExchange reported Q3 EPS of $1.79 on revenue of $323.19M, which beat the consensus expectations. On December 20, the company agreed to buy NYSE Euronext (NYX) for $33.12 per share, or $8.2B. NYSE Euronext said on February 5 that it predicts that the deal will close in 2H13. A side deal that IntercontinentalExchange and NYSE Euronext reached could prevent a competing bid from arising, The Wall Street Journal reported on January 31. Under the deal, NYSE's European derivatives unit, known as Liffe, agreed to clear its trades through IntercontinentalExchange for at least two years, The WSJ reported, citing unnamed sources. The deal will remain valid regardless of whether the merger with IntercontinentalExchange closes, the newspaper stated... RESEARCH AND NEWS: Research firm Macquarie downgraded Intercontinental Exchange to Neutral from Outperform on January 9, as the firm lowered its estimate of the growth that the merger with NYSE Euronext will produce. Similarly research firm Bernstein on December 21 downgraded the company to Market Perform from Outperform as the firm believes that the NYSE Euronext acquisition dilutes the quality of Intercontinental Exchange's franchise. The firm also cited the complexity of the integration of NYSE Euronext as a reason for the downgrade. On January 14, IntercontinentalExchange CEO Duncan Niederauer told CNBC that the company's trading business is doing well. On January 23, Niederauer told The WSJ that the company would look to spin off its European unit... PRICE ACTION: IntercontinentalExchange's stock is up less than 10% since it announced the merger with NYSE Euronext. Over the last month, the stock is up about 10%.
News For ICE;NYX From The Last 14 Days
Check below for free stories on ICE;NYX the last two weeks.
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April 16, 2014
07:41 EDTICEICE owner purchases Algo Technologies, Bloomberg says
The new owner of IntercontinentalExchange has been exploring matching engine software and purchased Algo Technologies in response to that, according to Bloomberg, citing two people familiar with the matter. The sources said that Algo Technologies is a firm that claims to have the industry’s quickest matching engine. Reference Link
April 15, 2014
07:28 EDTICESEC officials weighing curbs on trading fees, WSJ says
SEC officials, including some commissioners, are considering a trial program to curb "maker-taker" fee plans that are a major source of revenue for exchanges and some high-frequency trading firms, according to The Wall Street Journal. Fund managers, including BlackRock (BLK), are concerned about the negative effects of maker-taker, the report added. IntercontinentalExchange (ICE) CEO Jeffrey Sprecher, along with representatives from T. Rowe Price (TROW) and from RBC Capital (RY), recently held a series of private meetings with SEC Chairman Mary Jo White to push for its elimination, according to the report, citing people familiar with the matter. Like IntercontinentalExchange, which owns the New York Stock Exchange, Nasdaq (NDAQ) is a publicly-traded exchange operator. Reference Link
April 14, 2014
12:01 EDTICEIntercontinentalExchange sets new daily record for ICE NYH RBOB futures
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April 10, 2014
13:43 EDTICEFidelity to pitch new lost cost trading venue to large asset managers, WSJ says
Fidelity is working on a new trading venue, dubbed "Sakura," that it hopes will be a collaboration among big mutual-fund firms to reduce costs and streamline trading and will be an improvement over other "dark pools," reported The Wall Street Journal, citing people with knowledge of the matter. The report said Fidelity is in the initial planning stages and has just started pitching the idea to other large asset managers. Publicly traded fund managers include BlackRock (BLK), Franklin Resources (BEN) and T. Rowe Price (TROW), while Investment Technology Group (ITG) currently operates dark pools that facilitate block trading among large institutions. Exchange operators Nasdaq (NDAQ) and Intercontinentalexchange's (ICE) NYSE have previously testified to legislators that too much trading occurs in dark pools, hurting investors. Reference Link
April 7, 2014
06:58 EDTICEDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
April 5, 2014
20:24 EDTICEIEX may look for exchange status sooner than planned, Reuters says
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April 3, 2014
09:02 EDTICEMeetMe to move stock listing to NASDAQ
MeetMe (MEET) announced that it will transfer its U.S. stock exchange listing to the NASDAQ Capital Market (NDAQ). Trading in the company’s shares currently takes place on the NYSE MKT (ICE). The company expects trading on NASDAQ to begin on April 15. Until that time, trading will continue on the NYSE MKT. The company will retain its current ticker symbol, “MEET,” when trading begins on NASDAQ.
08:30 EDTICEIntercontinentalExchange reports March average daily volume down 16%
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05:57 EDTICENYSE says expects IPO window to continue this year, Fortune reports
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