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Stock Market & Financial Investment News

News Breaks
March 18, 2014
10:20 EDTICE, NDAQNew York AG calls for new efforts to end high-frequency trading advantages
New York Attorney General Eric Schneiderman called for tougher regulations and market reforms intended to eliminate what he called the unfair advantages commonly provided to high-frequency trading firms at the expense of other investors. Schneiderman detailed a number of services that trading venues offer to high-frequency traders and the damaging impact of those services on the rest of the market. Those services, "which in the hands of predatory high-frequency traders distort our markets," include allowing traders to locate their computer servers within trading venues themselves; providing extra network bandwidth to high-frequency traders; and attaching ultra-fast connection cables and special high-speed switches to their servers, the AG said. Each of these services offers clients a timing advantage – often in milliseconds – that allows high-frequency traders to make rapid and often risk-free trades before the rest of the market can react, Schneiderman added. To address this imbalance in the markets, which now tilt in favor of high-frequency traders, Attorney General Schneiderman today called on the exchanges and other regulators to review the feasibility of certain market structure reforms that could help eliminate some of the fundamental unfairness in our markets. One detailed proposal would seek to correct this imbalance by processing orders in batches in frequent intervals, to ensure that price – not speed – is the deciding factor in who obtains a trade. Publicly-traded companies that own exchanges include Nasdaq (NDAQ) and IntercontinentalExchange (ICE), which owns the New York Stock Exchange. Reference Link
News For NDAQ;ICE From The Last 14 Days
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May 4, 2015
15:01 EDTICENotable companies reporting before tomorrow's open
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April 29, 2015
09:59 EDTNDAQNASDAQ apologizes for role in Twitter earnings leak
In a statement to CNBC, NASDAQ (NDAQ) said: "Yesterday at 3:07 pm EDT, Shareholder.com inadvertently posted Twitter's (TWTR) earnings release prematurely on its investor relations website. The posting was caused by an operational issue that exposed the release on Twitter's IR website for approximately 45 seconds. During those seconds the site was scraped by a third party that publicly disseminated the earnings information. We regret the incident and remain fully committed to providing the highest quality Investor Relations communication product and services to our clients."
08:16 EDTNDAQBGC Partners says now owns more than two-thirds of GFI outstanding shares
On April 28, a subsidiary of BGC (BGCP) purchased from GFI (GFIG) approximately 43M newly issued shares of GFI’s common stock at that date’s closing price of $5.81 per share, for an aggregate purchase price of $250M. The purchase price was paid to GFI in the form of a note due on June 19, 2018 that bears an interest rate of LIBOR plus 200 basis points. Due to intercompany eliminations, the new shares and the note will have no impact on the consolidated balance sheet of BGC. Following the issuance of the New Shares, BGC owns approximately 67% of GFI’s outstanding common stock. The company said: “A successful sale of Trayport, combined with increased profits from integrating GFI, growing our fully electronic businesses, and the strength of our Real Estate Services business, will lead to dramatically higher liquidity. We also anticipate receiving over $635M in additional NASDAQ OMX (NDAQ) stock over time. As we execute our strategy, we expect to have significant capital with which to pay dividends, repurchase shares and/or units of BGC, profitably hire, and make accretive acquisitions, all while maintaining our investment grade rating.”
April 24, 2015
10:00 EDTNDAQOn The Fly: Analyst Downgrade Summary
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06:40 EDTNDAQNASDAQ downgraded to Sector Perform from Outperform at Portales
April 23, 2015
07:06 EDTNDAQNASDAQ raises quarterly dividend to 25c from 15c
NASDAQ declared a regular quarterly dividend of 25c per share on the company's outstanding common stock, an increase of 67% from the prior 15c per share quarterly dividend. The dividend is payable on June 26, to shareowners of record at the close of business on June 12.
07:05 EDTNDAQNASDAQ lowers operating expense guidance to $1.085B-$1.11B
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07:04 EDTNDAQNASDAQ reports Q1 EPS 80c, consensus 78c
Reports Q1 revenue $507M, consensus $516.59M. . On an organic basis, excluding the impact of foreign exchange rates and acquisitions, non-trading segment organic growth was 3%. NASDAQ said a restructuring effort eliminated $17M-$19M in annualized expenses. The company will incur related charges of $63M, of which $31M was realized in Q1. In addition, restructuring charges included a non-cash charge of $119M related to global rebranding initiatives.
April 22, 2015
15:50 EDTNDAQNotable companies reporting before tomorrow's open
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