NYSE Euronext Downgraded at Wells Fargo (NYX)

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Stock exchange operator NYSE Euronext ( NYX ) on Monday caught a downgrade from analysts at Wells Fargo, amid concerns the company would not receive a better buyout offer.

The firm said it cut its rating on NYX from "Outperform" to "Market Perform," noting it does not expect a higher takeover offer than the one made by NASDAQ OMX ( NDAQ ) and Intercontinental Exchange ( ICE ) on Friday.

The combined NDAQ/ICE offer of $11.3 billion trumps the one made back in February by German bidder Deutsche Boerse. That offer was accepted by NYX prior to the rival bid.


NYSE Euronext shares fell 40 cents, or -1%, in premarket trading Monday.

The Bottom Line
Shares of NYSE Euronext ( NYX ) have a 3.03% dividend yield, based on Friday's closing stock price of $39.60. The stock has technical support in the $34-35 price area. The shares are trading at overhead resistance in the $40 price area. Both possible deals for NYX have high hurdles to clear and we would consider ringing the register if one owns the shares of NYX.

NYSE Euronext ( NYX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: NYX

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