Shares of Nasdaq OMX (NDAQ) stumbled in late trades after the trading exchange operator announced Adena Friedman is resigning from the chief financial officer post.
Friedman, who also serves as executive vice president, corporate strategy, is leaving the company to join buyout firm The Carlyle Group.
The stock was last quoted at $27.70, down 6.5%, on volume of roughly 70,000. At recent prices, the shares were up more than 50% in the past year, hitting a 52-week high of $28.22 on Friday as a wave of consolidation swept exchange operators, most notably with NYSE Euronext (NYX) agreeing to combine with Deutsche Borse.
Marriott InternationalHotel operator Marriott International (MAR) saw its shares rise more than 4% to $42.80 on extended volume of roughly 280,000 after the company beat Wall Street's expectations for its fourth-quarter earnings. The company also disclosed plans to spin off its timeshare business, saying it expects to complete the transaction in late 2011. For the three months ended Dec. 31, Marriott reported an adjusted profit of $150 million, or 39 cents a share, besting the average estimate of analysts polled by Thomson Reuters for earnings of 36 cents a share. Other stocks making notable moves in after-hours action included Mack-Cali Realty (CLI), which dipped almost 5% after the Edison, N.J.-based real estate investment trust launched a public offering of 5.5 million common stock units; and Anika Therapeutics (ANIK), whose shares dropped more than 15% after the company offered up some regulatory news, saying it's requested a review of its proposed osteoarthritis drug Monovisc by the Orthopedic Advisory Panel, among other developments. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV