October 30, 2012 |
Stock and options exchanges are losing $1 million in transaction fees each day they are closed because of Hurricane Sandy , according to an industry analyst's estimate. Richard Repetto, a principal at Sandler O'Neill, said the giant storm would likely cost NYSE Euronext, Nasdaq OMX Group and the Chicago Board Options Exchange $1 million in net trading revenues each day they are closed. But the closures of the exchanges Monday and Tuesday would likely cost a loss of a penny or less of earnings-per-share for the public companies that operate the exchanges, Repetto said in a note.
November 11, 2011 |
Viacom Inc., the owner of MTV Networks and Paramount studios, said it would transfer its stock listing to Nasdaq from the New York Stock Exchange to save on expenses. Its Class B shares will trade under ticker symbol VIAB and its Class A voting shares will trade under VIA, the company said Friday. A listing at Nasdaq, owned by Nasdaq OMX Group Inc., will be "more cost effective," Viacom said. Viacom, based in New York, reported fourth-quarter profit Thursday that exceeded analysts' estimates and added $6 billion for stock buybacks.
September 27, 2011 |
The U.S. securities regulator is considering a plan that would improve a 23-year-old circuit breaker that did not trip during last year's "flash crash" to make it more sensitive to extreme market moves. Exchanges pitched a long-awaited plan that would lower percentage thresholds for halting stock trading, shorten the halts and change the reference index to the broader Standard & Poor's 500 from the current Dow Jones industrial average, the U.S. Securities and Exchange Commission said on Tuesday.
April 5, 2011 |
Nasdaq's late-night announcement to adjust weightings in the benchmark Nasdaq 100 index spurred volatility in Apple Inc. shares and surprised U.S. fund managers, who questioned the timing of the news. Apple will be the most affected by the move, with its weighting slashed nearly in half, though it will remain the largest component of the index. As word spread of the changes, Apple shares dipped in premarket trading, before recovering during regular U.S. trading hours. The rebalancing is not unusual, but Nasdaq OMX Group Inc., operator of the Nasdaq stock market, announced it at around 3 a.m. Tuesday, making early trading more unpredictable.
March 7, 2012 |
The New York Stock Exchange and Nasdaq are battling it out far from home - at Facebook Inc.'s Silicon Valley headquarters - to see which market will snag the hottest stock listing in years. As the social-networking giant prepares for a blockbuster initial public offering expected this spring, a guessing game has emerged over where it will call home. The Nasdaq has lured many other technology companies, while the Big Board has pushed hard in recent years for more tech offerings.
April 5, 2011
A quiet day on Wall Street left stock indexes little changed after minutes from the most recent meeting of the Federal Reserve's policy committee showed few signs that the central bank plans on making changes to its stimulus program. Trading volume continued to be light. The minutes, from the Fed's meeting on March 15, confirmed that members of the central bank are split about whether it needs to tighten credit later this year to ward off inflation. All of the committee's members agreed that the economy is improving.