This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Shares Of Exchanges Fall With Downgrades, Market

DES MOINES, Iowa (AP) ¿ Shares of exchange and trading platform providers mostly fell Friday as the broader markets trended downward and an analyst downgraded or lowered estimates on several companies.

GFI Group Inc. fell 54 cents, or 7 percent, to $7.15 after Keefe, Bruyette & Woods analyst Niamh Alexander downgraded the inter-dealer broker, which specializes in derivatives and related products.

The analyst cut the stock to "Market Perform" from "Outperform" saying there's more upside potential in other stocks in the sector that are better prepared in a changing derivatives trading landscape.

Alexander said proposed legislation could force changes in over-the-counter trading could result in lighter volumes for the company.

Other exchange stocks that fell in midday trading included Nasdaq OMX Group Inc., down 56 cents, or 2.7 percent, to $19.85; NYSE Euronext, down 54 cents to $29.40; and Interactive Brokers Group, which fell 72 cents, or 3.4 percent, to $20.21.

Alexander downgraded Nasdaq to "Market Perform" from "Outperform" and lowered his 2010 earnings estimate to $2.12 from $2.32. He concluded the business mix, market position and extent of cost cutting leaves the company with "fewer positive catalysts ahead and room for more downside risk to estimates."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NYX $0.00 0.00%
GFIG $6.16 0.16%
CME $90.53 -2.98%
ITG $16.95 -0.53%
NDAQ $60.88 -0.99%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs