New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 5, 2013
14:45 EDTNYX, ICEEarnings 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
Sign up for a free trial to see the rest of the stories you've been missing.
December 11, 2014
07:24 EDTICEIntercontinentalExchange not currently planning to sell NYSE, Reuters reports
Intercontinental Exchange CEO Jeffrey Sprecher said there are no immediate plans to sell the New York Stock Exchange, Reuters reports, citing comments made at a Goldman Sachs conference. Sprecher said the NYSE could have the fastest EPS growth of all the businesses ICE operates, and expects it will become more profitable as a result of ongoing restructuring. Reference Link
December 9, 2014
16:19 EDTICEAMD announces move to NASDAQ
Subscribe for More Information
December 8, 2014
15:08 EDTICEIntercontinentalExchange sees EUR 96.8M proceeds from sale of Euronext stake
Intercontinental Exchange announced the pricing of the placement of 4.2M shares in Euronext, representing approximately 6% of Euronextís share capital, by way of an accelerated book-building to institutional investors. The gross proceeds to ICE from the sale amount to EUR 96.8M. Following the sale, which is expected to close on December 11, ICE will no longer hold any of Euronextís shares or voting rights and the transaction marks the final exit from Euronext by ICE initiated in 2014, the company said.
11:41 EDTICEIntercontinentalExchange to sell remaining shares in Euronext
Intercontinental Exchange announced its intention to sell approximately 4.2M shares in Euronext N.V., representing approximately 6% of Euronextís share capital, by way of an accelerated book-building to institutional investors. Following the sale, assuming all shares are sold, ICE will no longer hold any of Euronextís share capital and voting rights. This transaction marks the final exit from Euronext by ICE, in line with its previously announced strategy. ICE received a waiver of the lock-up agreement entered into at the time of the Euronext initial public offering in June 2014, which was due to expire on December 21. The shares will be offered by way of a private placement to institutional investors. The book-building will commence immediately. ICE reserves the right to close the books at short notice. Pricing and allocations will be determined at the conclusion of the offering and are expected to be announced in a separate press release.
December 5, 2014
10:00 EDTICEOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:15 EDTICEIntercontinentalExchange downgraded to Neutral from Buy at Citigroup
Subscribe for More Information
December 4, 2014
08:52 EDTICEIntercontinentalExchange, Eris Exchange announce global swap futures pact
Intercontinental Exchange and Eris Exchange announced a multi-year license agreement for ICE exchanges to list futures and options based on the Eris Methodology, Erisí patent-pending product design for constructing swap futures in a capital-efficient manner. Under the agreement ICE is licensing the rights to list European and U.S. credit default swap futures and European interest rate futures based on the Eris Methodology. The first product launch under the license agreement will be CDS futures based on the Markit CDX North American Investment Grade and High Yield indices, listed on ICE Futures U.S. and cleared at ICE Clear U.S., subject to regulatory approval.
December 3, 2014
08:37 EDTICEIntercontinentalExchange reports November futures and options ADV down 14%
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use