Nasdaq feels effects of failed LSE bid

Nasdaq Stock Market Inc. posted a disappointing 1.7% increase in first quarter net income due to charges related to its failed bid to acquire the London Stock Exchange.
APR 19, 2007
By  Bloomberg
Nasdaq Stock Market Inc. posted a disappointing 1.7% increase in first quarter net income due to charges related to its failed bid to acquire the London Stock Exchange. Net income inched up to $18.3 million, or 14 cents per share, compared to $18 million, or 16 cents per share in the year-ago period. Excluding a $24.9 million charge for costs related to its offer for the LSE and other items, the exchange posted adjusted earnings of $41.8 million, or 29 cents per share, for the first quarter of 2006. Nasdaq reported $26.2 million, or 22 cents per share, during the year-ago quarter. Revenues for the quarter increased 18.6% to $192.1 million, up from $162 million during the year ago-period. Analysts surveyed by Thomson Financial had forecast profit of 21 cents per share. Furthermore, the Exchange a $10.6 million charge related to a clearing contract and a $7.8 million loss on foreign currency option contracts. Average daily share volume increased to 1.4% to 2.15 billion, compared to $2.12 billion during the year-ago period. The number of companies that made their initial public offerings on Nasdaq also increased, rising from to 37 from 30 during the year-ago period.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.