NYSE Euronext Continues to Fortify Its Franchise

Even with its pending merger with Deutsche Boerse, NYSE Euronext hasn’t been resting on its heels

Michael Wong, CPA 3 August, 2011 | 11:16AM
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NYSE Euronext (NYX) reported net income attributable to common shareholders of $154 million, or $0.59 per diluted share, on $661 million of net revenue for the second quarter of 2011. Net revenue decreased 3% sequentially, as a drop-off in transaction-based revenue from an overall industry volume decline was offset by other revenue lines. We are maintaining our fair value estimate for the company, which assumes that NYSE Euronext's merger with Deutsche Boerse DB1 will go through. That said, NYSE Euronext's share price will fluctuate based on Deutsche Boerse's share price and the euro to U.S. dollar exchange rate. The major hurdle that has to be passed for the merger to be consummated is regulatory approval by European authorities.

Even with its pending merger with Deutsche Boerse, NYSE Euronext isn't resting on its heels. The company continues to push forward with initiatives that it embarked on before the merger announcement.

Read more on NYSE Euronext's pipeline projects in the full equity analyst note.

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Michael Wong, CPA  Michael Wong is a stock analyst at Morningstar.

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