NYSE Euronext (NYX) Shares Continue to Rise on JP Morgan (JPM) Upgrade
Shares of exchange operator NYSE Euronext rose Monday after JPMorgan Chase & Co. raised earnings estimates for the third quarter and full-year 2007 and 2008.
Shares of NYSE Euronext rose $3.76, or 4.9 percent, to $79.80.
JPMorgan Chase analyst Kenneth Worthington increased his earnings estimate for the third quarter to 75 cents per share, from 58 cents per share, because of "higher than expected cash equity volumes at NYSE and booming interest rate derivatives volumes at Liffe," the company's European commodities and derivatives exchange.
As markets add electronic trading capability, "algorithmic and other blackbox trades could send volumes materially higher," Worthington wrote in a note. Because of the potential for significant volume growth, JPMorgan Chase's estimates could be too low in 2007, Worthington said.
Shares of NYSE Euronext rose $3.76, or 4.9 percent, to $79.80.
JPMorgan Chase analyst Kenneth Worthington increased his earnings estimate for the third quarter to 75 cents per share, from 58 cents per share, because of "higher than expected cash equity volumes at NYSE and booming interest rate derivatives volumes at Liffe," the company's European commodities and derivatives exchange.
As markets add electronic trading capability, "algorithmic and other blackbox trades could send volumes materially higher," Worthington wrote in a note. Because of the potential for significant volume growth, JPMorgan Chase's estimates could be too low in 2007, Worthington said.
Labels: JP Morgan Chase and Co., JPM, NYSE Euronext Inc., NYX
posted by Stock Administrator @ 12:26 PM
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