Jim Cramer Blog

"Given the absence of any fundamental weakness, in our opinion, we believe that the recent weakness in NYX shares has been driven largely by concern in the market that the company could rush into a dilutive acquisition in the U.S. derivatives space," wrote Lehman Brothers analyst Roger Freeman who raised his rating on shares of NYSE Euronext Inc. (NYSE: NYX - News) from "equal weight" to "overweight." The comments basically echo what the marketplace has been worried about for a while now, that NYSE Euronext will pursue a dilutive acquisition. Based on the trading action in other stocks in the sector, it looks like both the New York Mercantile Exchange Inc. (NYSE: NMX - News) and the InterContinental Exchange Inc. (NYSE: ICE - News) are in play ahead of a potential takeover.