Stock exchange operator NYSE Euronext (
) 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 (
) and Intercontinental Exchange (
) on Friday.
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
The Bottom Line
Shares of NYSE Euronext (
) 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 (
) 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
Created by Dividend.com