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Updated from 11:30 a.m. EDT

A number of stocks in the financial sector were on the rise Tuesday following positive research from Wall Street analysts, including an upbeat call on the newly merged

NYSE Euronext



Citigroup initiated the exchange operator with a buy rating and a $113 price target. NYSE Euronext shares closed up 15 cents to $96.20.

Meanwhile, BMO Capital expects good things from both

TD Ameritrade

(AMTD) - Get TD Ameritrade Holding Corporation Report



( OXPS), and it started each with an outperform rating.

BMO began coverage of

Charles Schwab

(SCHW) - Get Charles Schwab Corporation Report

with a market perform rating and a $19 target.

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TD Ameritrade got a $24 target, and its shares rose 2% to $15.62. OptionsXpress, who received a $31 target, was advancing 2.2% to $24.87. Schwab was up 0.3% earlier in the day but closed down 0.4% at $19.11.

Another mover was


(C) - Get Citigroup Inc. Report

, which rose 1.6% to $52.40 amid reports that the financial-services giant might be getting close to cutting thousands of jobs in a bid to lower expenses and streamline its business.

The New York Times

reported that more than 26,000 workers could be let go or reassigned, while


said the number would be closer to 17,000.

Last month, reports emerged that Citi was

aiming to chop 15,000 employees from its payrolls as part of a program to cut costs by $1 billion a year.


Fairfax Financial

( FFH), after rising moderately earlier in the day, closed down 1.7% to $230.38 following Ferris Baker's decision to lift its price target on the stock by $38 to $250, and

Friedman Billings Ramsey


climbed 1.1% to $5.57 after saying it would sell shares of its FBR Capital Markets division to the public.


(ICE) - Get Intercontinental Exchange, Inc. Report

rose 0.8% earlier in the day on word that its New York Board of Trade unit set a new daily electronic volume record of 147,958 contracts on Monday, exceeding the old benchmark by nearly 51%. Shares closed down 0.4% at $127.95.

As for the broad sector trackers, the KBW Bank Index was up slightly to 114.6, and the NYSE Financial Sector Index was higher by 0.5% at 9548.2.