NASDAQ Unveils Global Index Family - Analyst Blog
04 Dicembre 2012 - 1:45PM
Zacks
Yesterday, NASDAQ OMX Group Inc. (NDAQ)
introduced a multi-index platform with multiple asset-classes known
as NASDAQ Global Index Family. This new platform will be developing
as much as 24,000 benchmark indices, thereby accounting for more
than 98% of the global equity investment market.
Accordingly, NASDAQ has immediately initiated about 4,000
indexes calculated in US dollars, while the remaining will be
phased out over time in varied currencies. The NASDAQ Global Index
Family is designed to cover approximately 9,000 securities that
represent a cumulative float-adjusted market capitalization of more
than $32 trillion.
Moreover, the global securities on the NASDAQ Global Index
Family are diversified into their respective market segment,
region, country, size and sector. Subsequently, the company’s new
index platform will have equity indexes across the Americas,
Europe, Asia-Pacific and Middle East-Africa.
Additionally, NASDAQ has enhanced the performance of the global
index family products through a transparent, high-tech and
efficient operational structure along with its 10-year historical
data. Hence, such a vivid index offering will not only provide
NASDAQ with ample scope for new business growth, but it will also
help it maintain competitive edge in the global equity space.
Over the last couple of years, NASDAQ has been vigorously
focusing on amplifying its business profile through expansion into
international markets in an attempt to counter the competitive
forces and gain dynamism. The company’s strategic efforts to
enhance fraying market position are also crucial since the recent
reforms in the US has led arch-rivals in the derivative and equity
spaces such as NYSE Euronext Inc. (NYX) and
CME Group Inc. (CME), to seek greener pastures in
the emerging and rapidly developing economies. This leaves no
reason for NASDAQ to lag behind the market moves.
Earnings Review
In October this year, NASDAQ reported third-quarter 2012
operating earnings per share of 62 cents, which surpassed the Zacks
Consensus Estimate by a couple of cents. However, it fell shy of
the prior-year quarter’s earnings, of 67 cents, by a nickel. The
year-over-year decline was primarily attributable to reduced top
line, which lay marred by significantly weak trading volumes across
businesses and unfavorable impact from foreign exchange.
For the fourth quarter of 2012, the Zacks Consensus Estimate
pegs NASDAQ earnings at 62 cents per share, down about 1% over the
prior-year quarter. For 2012, earnings are expected to decline by
around 2% over 2011 to $2.49 per share. Over the last 30 days, 3 of
the 13 analysts have reduced their estimates downwards, while no
upward revision was witnessed.
NASDAQ carries a Zacks Rank #3 that implies a short-term Hold
rating, while the long-term recommendation stands at Neutral.
CME GROUP INC (CME): Free Stock Analysis Report
NASDAQ OMX GRP (NDAQ): Free Stock Analysis Report
NYSE EURONEXT (NYX): Free Stock Analysis Report
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