Shares of

Lehman Brothers

( LEH) surged Tuesday, after the big Wall Street firm said third-quarter profits rose 4%, more than Wall Street had expected.

In the quarter, Lehman earned $916 million, or $1.57 a share, up from $879 million, or $1.47 a share, in the year-ago quarter. Net revenue rose 8% to $4.2 billion. Analysts, as surveyed by Thomson Financial, had the investment firm earning $1.49 a share on revenue of $4 billion. The stock most recently was up $2.40, or 3.5%, to $70.42.

Nasdaq

I:IXIC

shares rose a day after the chief executive of the company that runs the Nasdaq Stock Market said the exchange will not rush into any overseas merger with a European rival.

Nasdaq CEO Robert Griefeld, in a speech to the Boston College Chief Executives' Club, says the push to cross-border consolidation of stock exchanges is a "marathon, not a sprint.'' In recent weeks, there's been lots of speculation that the Nasdaq may make another bid for the London Stock Exchange and the Scandinavia's OMX. The Nasdaq currently owns a 25% equity stake in the LSE. The stock most recently was up 84 cents, or 2.9%, to $29.42.

Shares of the

InterContinental Exchange

(ICE) - Get Report

rose after a published report says the electronic commodities exchange is in merger talks with the New York Board of Trade, a rival commodities exchange.

The

New York Post

says the exchanges have been negotiation for a while and that the NYBOT's board could discuss the merger at today's meeting. The Post says the deal would value the NYBOT at about $1 billion. Shares most recently traded at $66.31, up $3, or 4.8%.

E*Trade Financial's

(ET) - Get Report

stock rose after the online financial firm said client assets rose 3% in the past month. The stock gained even though the firm's online brokerage customers didn't trade as much in August as in the prior month.

Investors, however, have been pouring into brokerage stocks in anticipation of a strong fourth-quarter for the industry. The stock most recently traded at $23.72, up 73 cents, or 3%.

Health Care REIT

(HCN)

fell after saying it was buying

Windrose Medical Properties Trust

(WRS)

for about $877 million, including debt.

The acquisition will expand the real estate investment trust's health-care related holdings. The deal represents a 19% premium to Windrose's Tuesday closing share price of $15.18. Shares of Health Care REIT were down $1.31, or 3.3%, to $38.74.