"Citigroup has said it may conduct a reverse stock split before June 30, 2010 that would increase the share price, which has hovered near $3 for much of the year.
It has proposed seven possible exchange ratios, ranging from 1-for-2 to 1-for-30. Reverse splits reduce outstanding shares and are often used to boost low share prices."
Reverse splits make the stock vulnerable to shorting. 1-30? Tell me it aint so Joe.
" Analysts expressed concern about the long-term viability of the steelmaker, which on Monday announced drastic measures to shore up its balance sheet, including slashing its dividend by more than 80 percent, delaying payments to a retiree healthcare trust and selling shares of common stock to pay down debt. "
Expect a steady decline in stock price over the coming weeks.
Here's something positive ... talking about Credit Default Swaps:
"CME Group (NYSE: CME), NYSE Euronext (NYSE: NYX), and IntercontinentalExchange (NYSE: ICE) have all received approval to operate clearinghouses. This market has the potential to be huge -- right now, there are about $45.5 trillion in credit default swaps outstanding at face value. Though the fair value of these swaps is substantially less, the market nevertheless has the potential to be huge. CME, NYSE, and Intercontinental will reap the benefits of functioning as clearinghouses for this massive new market."
can go on for days. Let's hope, at least thru Tuesday.
Maybe they'll make a profit! Maybe they will even hold on to market share this Q1!
Maybe greedy Neidy will give back the $10 million to help our bottom line! Stranger things have happened. Like Booyah Boy for instance declaring (obviously after first doing his homework) that this stock was going to 160, after which it worked its way to the dizzying height of 15 buckaroos!
Isn't trading fun!
Yup! We were promised synergies and cost savings from our European merger but, in contrast to DB, all we got was this:
"Eurex, its derivatives exchange, and Clearstream, its clearing and settlements unit, helped Deutsche Boerse grow sales overall by 12.4% and profits by 13.3%.
NYSE Euronext, meanwhile, reported a loss of $738.0 million for 2008, mostly due to impairment charges relating to the merger of NYSE and Euronext."
With a much deserved (not) $10M bonus for greedy Neidy.
"NYSE Euronext will price a EUR250 million increase to an existing 2015 bond that pays a 5.375% coupon at 300 basis points over mid swaps. Bank of America Merrill Lynch, Natixis, Royal Bank of Scotland Group PLC and Societe Generale SA are acting as lead managers on the deal, which should be priced later, subject to market conditions."
Just to make sure they can pay bonuses regardless of whether the company is profitable, and of course to ensure that stockholders get to pay their taxes for them too.
Always putting us first.
Keep on overpaying yourself there greedy Neidy!
It is also a sign of strength that NYX can still borrow cheaply
5.375% is cheap?
euro bond issue bringing the total bond issue to 1.5 billion bucks -- to mature in 2015?
So Needy can get future $10+ bonuses?
Don't we have enough debt?
<<said it would cut stock trade execution prices in a bid to take more volume from the New York Stock Exchange floor.
“Plenty of volume can still come off that floor,” Williams said.>>
I think that warrents a second bonus and an even bigger golden parachute for Mr Needy. Go Piggy Go Piggy ...
I'm sick of this bunch of robbers!
<<Kenneth Steiner, another investor, blasted the board for agreeing to golden parachutes for Mr. Niederauer and three other senior executives. Under the terms of that agreement, Mr. Niederauer would be awarded $26.2 million if he elected to sell the exchange, which includes the company paying the taxes associated with his windfall.>>
We had a 700M dollar loss in 2008!
I'm sick of these pigs! And Needy is one son of a greedy pig.
they hope to get back 50% share by the end of 2009. Promises promises. Why don't they take action now! Their share is being taken now! Down in the 40's already????
What the fick have they been doing to let share deteriorate this far?
They are losing out in the shuffle for a larger piece of the pie ... big time! NYX needs more agressive management.
They need a plan. And they need to stop these "one time" suprises (who saw that one coming?) that make the year a financial loss!
Jeeeeeeeeeezz!!!!! We need new management that will get results! And stop the rot!
A loss is a loss you dope!
Whether it's a one time loss or not.
Jeeeeeeeeeeeeeeeeezzz! You must be an accountant.
and Needy gets a $9.2M paycheck.
Just another greedy CEO pig. Taking profits that don't exist. Wonder what the paycheck will be like if and when NYX makes money?