NEW YORK (TheStreet) -- Shares of Intercontinental Exchange Inc. (ICE) are up 1.16% to $197.13 after it was announced that the company, primarily an operator of energy and commodity futures exchanges, is continuing to reduce NYSE Euronext by agreeing to sell several technology businesses, the Wall Street Journal reports.
Today, ICE said it reached a deal to sell its Nyfix and Metabit businesses to electronic-trading technology company Ullink for an undisclosed price. That follows its sale of the Wombat business to SR Labs Inc.
ICE acquired NYSE Euronext in 2013 for $8.2 billion primarily to acquire NYSE's European derivatives market Liffe, the Journal noted.
TheStreet Ratings team rates INTERCONTINENTAL EXCHANGE as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERCONTINENTAL EXCHANGE (ICE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels, increase in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: