ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NDAQ Stock Price » NDAQ Stock News

Nasdaq Stock Market Share News

 The Nasdaq Omx Grp. (mm) Stock Price
NDAQ Stock Price
 The Nasdaq Omx Grp. (mm) Stock Chart
NDAQ Stock Chart
 The Nasdaq Omx Grp. (mm) Stock News
NDAQ Stock News
 The Nasdaq Omx Grp. (mm) Company Information
NDAQ Company Information
 The Nasdaq Omx Grp. (mm) Stock Trades
NDAQ Stock Trades

Nasdaq OMX Group's Profit More Than Doubles -- 2nd Update

By Bradley Hope and Michael Calia Nasdaq OMX Group Inc. said its first-quarter profit more than doubled, exceeding analysts' forecasts, as the company posted a 27% rise in net revenue on increased sales of investor relations and other services to corporations. The first quarter also benefited from a favorable year-ago comparison, as the 2013 period included $62 million in costs related to payments to firms affected by Nasdaq's 2012 mishandling of the Facebook Inc. IPO. During the earnings conference call, Nasdaq Chief Executive Robert Greifeld addressed some of the concerns about high-frequency trading amid questions raised in a recent book by author Michael Lewis about whether the market is "rigged" against ordinary investors. "We pride ourselves in providing fair and open access to our markets," Mr. Greifeld said. In a follow-up interview, he declined to say whether high-frequency trading was a net positive for the markets, but cited viewpoints from investors, such as asset manager BlackRock Inc., that describe some high-frequency trading strategies as having a positive impact. While Mr. Greifeld didn't state specifics, a recent commentary by BlackRock found that in recent years trading costs have gone down, while bid-ask spreads have narrowed and liquidity has increased. Mr. Greifeld also said during the conference call that he was in favor of an "acceleration" of the evolution of the markets, especially in forcing more trading from so-called dark pools back onto the exchanges. Roughly 40% of trading takes place off exchanges, according to Tabb Group. "It's certainly our hope that a result of some of this controversy is...an acceleration of efforts to bring more of the markets into the lit and transparent world," he said. Nasdaq also disclosed for the first time its exposure to traders with a high number of quotes compared with actual trades--one definition of high-frequency trading. Market makers weren't included in the data, as they also have high quote-to-trade ratios but are required to provide liquidity to the market. The HFT firms accounted for between $23 million and $29 million of Nasdaq's revenue in the first quarter, about 1% of the total revenue, according to a presentation made during the call. High-frequency traders are known for submitting a large number of orders, most of which are quickly canceled as they adjust their bids and offers to changes in the markets. In the first quarter, Nasdaq earned $103 million, or 59 cents, a share, compared with $42 million, or 25 cents a share, in the year-ago period. Excluding adjustments related to mergers and strategic initiatives, the company's earnings were 72 cents a share. Revenue climbed to $529 million, a level the company termed a record high. Analysts polled by Thomson Reuters expected per-share earnings of 71 cents and $527 million in net revenue. Nasdaq's market-services segment, its largest top-line contributor, posted a 17% rise in revenue to $213 million. Revenue in the technology-services segment that includes the corporate-services offerings, grew to $135 million from $75 million. In the first quarter, Nasdaq said, it led all U.S. exchanges for listing initial public offerings with 47--accounting for 64% of the industry total. Shares of Nasdaq were off 0.9% in late morning trade at $36.28, which puts the stock down 8.9% in 2014. Write to Bradley Hope at bradley.hope@wsj.com and Michael Calia at michael.calia@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Nasdaq Stock Market (NDAQ)
DateTimeHeadline
12/18/201415:40:20BATS Opposes NYSE Owner's Stock-Market Reform Plan
12/16/201417:23:24Hong Kong Pulls Into Second in IPOs
11/04/201410:47:50Who Will Buy KCG's Hotspot? -- Barron's
10/29/201413:16:53U.S. Stock Futures Pause as Fed Decision Looms
10/28/201417:24:57U.S. Stocks Rally; Dow Ends Above 17000
10/28/201416:14:08U.S. Stocks Rally
10/28/201414:49:21U.S. Stocks Trade Higher
10/24/201409:33:45U.S. Hot Stocks: Hot Stocks to Watch
10/22/201409:20:52U.S. Stock Futures Hover Near Even
10/21/201417:44:04U.S. Stocks Surge; Nasdaq Up 2.4%
10/20/201417:05:15U.S. Stocks Gain, but IBM Weighs on Dow
10/20/201412:55:14U.S. Stocks Mixed as IBM Drags Dow Down
10/01/201409:20:02U.S. Stock Futures Slip
09/25/201411:49:54U.S. Stocks Fall Sharply
09/22/201412:47:37U.S. Stocks Weighed Down by China
09/22/201411:34:31U.S. Stocks Remain Lower
09/05/201406:06:08China Stocks Link Offers Market-Tech Firms Opportunity
09/03/201412:35:55Tech Declines Cut Into U.S. Stock Market Gains
07/14/201418:41:07Correction to U.S. Stocks Story
07/14/201418:40:35U.S. Stocks End Up on Citigroup Earnings

Nasdaq Stock Market and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad