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| Comment | 47.910 | Andrew Guy, CFA | Very much driven by volume. Attractive volumes, especially on the down side. Expect there could be nice earnings out of NYSE Euronext as well is getting continuing benefits from the mergers. High beta stock because it is very much tied to equity markets. | 2008-07-22 | |
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| SELL | 73.260 | Paul Thornton | Q: Should caller sell this and by Visa (V-N). A: NYSE Group is not really performing very well. Thinks this would be a reasonable trade but there could be a pullback on Visa in the short term. | 2008-05-07 | |
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| DON'T BUY | 68.440 | Brian Acker, CA | (Market Call Minute.) He has a model price of $55.16, a -2% differential. | 2008-04-03 | |
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| SELL | 67.620 | Charles Bobrinskoy | Exchanges are having an interesting situation. A couple have done very well because they have particular monopolies in their contracts. This one doesn't, so they have been losing shares. Doesn't like the long-term outlook for this. | 2008-02-20 | |
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| WATCH | 82.720 | Ron Meisels | Problem is that it has a downtrend line and very little base building in September. He would love to see a selloff to about $69 to give it a double bottom. Wait for it to approach the $68-$69 level. | 2007-11-23 | |
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| VAGUE | 90.000 | Brendan Caldwell | Thinks the New York stock exchange is one of the cheapest exchanges in the world. | 2007-10-24 | |
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| DON'T BUY | 70.350 | Jeff Parent | Looks like it has hit bottom here but there is not a lot of volume, which is not a good sign. Decline has been pretty persistent for most of the year. If the trend continues, you could see $60. | 2007-08-15 | |
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| BUY | 75.400 | Brendan Caldwell | Over the next couple of years, he sees the US portion of the business adding a derivatives component to it. Can see the floor closing in a few years and then their current profit margins of 24% could move up sharply. | 2007-07-24 | |
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| WATCH | 83.740 | Kenneth P. Norquay, CMT | Looks like an ordinary pull back within an uptrend. Having a short term downtrend. Don't buy today, if it drops a bit more, then sell. Wait for the pull back to go a bit higher before buying. | 2007-06-01 | |
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| SELL | 86.430 | John Zechner | Not comfortable with the valuations with the stock exchanges. | 2007-04-25 | |
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| BUY | 84.450 | Brendan Caldwell | His firm has a big vested interest in the NYSE. Has pulled back in the last little while. He feels that it will eventually trade at over $200. | 2007-02-27 | |
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| DON'T BUY | 91.180 | David Burrows | Not performing strongly as they are viewed as an acquirer rather than an acquiree. Own the exchanges that are being bought, not the buyers. | 2007-02-20 | |
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| Comment | 101.190 | John Manley | Had a lot of support around and $90-$95 area with a lot of resistance around $110. In a consolidation range. Fundamentally it's a little rich on the P/E, but will be closing their deal with Euronex pretty soon giving a lot of revenue possibilities. From a Put selling perspective, you can capture about 3.5%-4% in 30 days by selling Puts around $90. | 2007-01-24 | |
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| DON'T BUY | 108.210 | David Baskin | Merging with Euronext, the European exchange. Also purchasing 5% on India's National Stock Exchange. The price of all these exchanges are terribly overpriced. Growth potential is not there. | 2007-01-10 | |
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| DON'T BUY | 104.580 | Charles Lannon | Stock exchanges are fantastic assets as they have reoccurring revenues from the regulatory part of their business. Businesses of huge operating leverage as fixed costs are so low that for every $1 of revenue that comes in, go straight into the pre-tax profit line. Valuation is a bit steep at this time. | 2007-01-09 | |
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| BUY | 105.940 | David Burrows | There will continue to be consolidation with exchanges. This one is a global leader and are likely to make acquisitions as we go along. There have been lots of money made in these, but if we continue to have strong equity markets, this is a good one to own. | 2007-01-08 | |
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| DON'T BUY | 96.640 | Gavin Graham | Has gone up a lot this year. A stock exchange, which is a leveraged play on volumes, mergers and IPOs. If the stock markets do well as they have for the last 4 years, they do very well. When stock exchanges start going public en-masse, we are pretty near the top. | 2006-12-07 | |
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| Comment | 97.880 | Bill Carrigan | Hasn’t been trading for very long, so he doesn’t have a lot of data. Had a spike in November and would watch this area very closely. It has dropped back and if it goes up again and then down, he would be careful. | 2006-12-06 | |
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| HOLD | 96.050 | John Manley | A lot of consolidation happening in the exchanges globally. Although it has pulled back recently, it is in a very strong uptrend, Good long-term hold. | 2006-12-04 | |
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| Comment | 100.100 | Paul Harris, CFA | Undervalued relative to the Mercantile Exchange. The issue is it is in the midst of a merger with Euronext and perhaps with the London exchange, so it is in transition with volatility short term. | 2006-11-30 | |
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| TOP PICK | 108.960 | Rob Callander | Exchanges have not been well understood nor well covered. There is still considerable upside. Have dramatically reduced costs. | 2006-11-23 | |
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| DON'T BUY | 108.960 | Alex Ruus | A great business with long-term drivers. Will benefit from increased market activity. Has recently had a huge run. Pretty expensive. | 2006-11-22 | |
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| HOLD | 95.320 | Peter Hodson | Pretty good brand name. They have the capital and backing to do lots of good acquisitions. A great business. If you own, you might consider taking some profit. Easy money has been made. | 2006-11-20 | |
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| DON'T BUY | 82.510 | John Zechner | Feels the exchanges are overvalued. Doesn’t see the valuations based on earnings growth or cash generation can justify the present prices. | 2006-11-08 | |
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| BUY | 75.000 | Rob Callander | Still attempting to merge with the European stock market exchanges. Sees a lot of upside potential. | 2006-10-23 | |
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| HOLD | 72.970 | Michael Smedley | Exchanges are marvellous cash cows. Probably all right, but would prefer a lower price. | 2006-10-19 | |
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| BUY | 61.370 | Rob Callander | In the middle of attempting to merge with Euronex. Will also be starting and options exchange. Will become more electronic with their hybrid system. Cutting costs. | 2006-09-12 | |
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| Comment | 57.300 | Gavin Graham | Down 21% since it started. They are volume driven. With more trading, they would do well so it is a leverage play on how you think security markets will do. | 2006-08-10 | |
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| DON'T BUY | 64.500 | David Baskin | When it went public, there was a lot of excitement about stock exchanges around the world. A classic case of hype overcoming substance. Could never understand why it was over $60. A recession or slower growth in the US will result in fewer listings and trading will decline. | 2006-07-27 | |
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| WEAK BUY | 59.400 | Bruce Campbell | There consolidations in this group. They will probably get involved in something. Given how much it’s fallen, it may be an interesting play. | 2006-06-08 | |
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| BUY | 75.450 | Rob Callander | Thinks that in 2/3 years it could be a $200 stock. There will be a secondary offering made, and when it is out of the way, assuming the markets are continuing to do well, you will start to see the share price rise again. | 2006-04-19 | |
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| DON'T BUY | 72.800 | David Baskin | In his view, this was a frenzy stock. Wouldn't be surprised to see it below $50 a year from now. | 2006-04-18 | |
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| DON'T BUY | 79.470 | David Baskin | There was so much hype and so much expectation that you could see it setting up the retail investor for a hit. You have to be careful about these things that have so much excitement and publicity. Don't let your heart get ahead of your head. | 2006-03-27 | |
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| BUY | 76.300 | David Burrows | The general view on exchange shares is that there is expected consolidation to take place over the next couple of years. A great business. Cash flow business. In the short run, there has been a pullback in most of these companies due to being overbought. Expect the stock will go higher. | 2006-03-23 | |
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| BUY | 86.350 | Gavin Graham | Entirely volume driven. There will be some selling off of shares, but there is talk of some takeover bids coming in. | 2006-03-20 | |
Experts that have talked about NYSE Group
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