Exchange. Its based in london and drives over 40 of n. Y. S. E. Profits. It has a business that deals, for instance, in financial derivatives. These are derivatives contracts tied to Financial Products like interest rates, and ice has been wanting to expand in that direction for a while. Reporter as for the n. Y. S. E. , its no secret that this year has been a tough one for the stock trading business. In addition, fewer companies are going public, so the i. P. O. Market has dried up. On a Conference Call, n. Y. S. E. Euronext c. E. O. Duncan niederauer was asked why not try to ride out the storm . Our responsibility to the shareholders was pretty clear. Our job is to create value as best we can in the near term, and position the company to be successful in the long term. I think this deal does that. Reporter this is not the first time ice has made a bid for the big board. Last year, it made a joint hostile bid with the nasdaq o. M. X. Group for the exchange. But that move was blocked b
Its based in london and drives over 40 of n. Y. S. E. Profits. It has a business that deals, for instance, in financial derivatives. These are derivatives contracts tied to Financial Products like interest rates, and ice has been wanting to expand in that direction for a while. Reporter as for the n. Y. S. E. , its no secret that this year has been a tough one for the stock trading business. In addition, fewer companies are going public, so the i. P. O. Market has dried up. On a Conference Call, n. Y. S. E. Euronext c. E. O. Duncan niederauer was asked why not try to ride out the storm . Our responsibility to the shareholders was pretty clear. Our job is to create value as best we can in the near term, and position the company to be successful in the long term. I think this deal does that. Reporter this is not the first time ice has made a bid for the big board. Last year, it made a joint hostile bid with the nasdaq o. M. X. Group for the exchange. But that move was blocked by regulato
Susie just a single cent higher. Earnings from Software Giant microsoft were only a penny more than what analysts were expecting. Microsoft shares slipped as much as 2 on the news in after hours trading. Here are the numbers microsoft earned 0. 76 a share, down 3. 7 from a year ago. Revenues rose more than 2. 5 to 21. 5 billion, but also below expectations. The results mark the First Quarter to include sales of microsofts new windows 8 operating system, and its tablet computer, the surface. Sales of its Windows Division jumped 24 , but no financial details on the surface tablet. Well have more analysis on microsoft, in a just a moment. Tom the other big tech story today apple and its big fall following yesterdays lackluster results. The stock lost 12 of its value or 63 a share, closing at 450 and change. Suzanne pratt reports. Reporter no doubt this was a sour day for investors. Not only did the stock log its largest dollar drop ever, but the shares are now trading at their lowest leve
Tom brian, before we talk about that forecast, what do you make of the fiscal first quarter. Some pretty big numbers reported. Some big numbers, but a little lighter than consensus, around 48 million iphone units, 22 million ipad units, a little less than consensus, and a little disappointing to investors, and certainly when you have the forecast that was light on top of it, it makes for a disappointing quarter. Tom i can already hear those apple shareholders saying financial expectations are just impossible for apple to exceed. Theyre so high. What do you say to them . Well, i think investors may have caught up to apples stunning growth, but perhaps the law of large numbers, i think growth is getting increasingly harder to achieve. I think the easy growth has already happened in the iphone in developed markets like the u. S. The next wave of growth will come from emerging markets, from china and lowerpriced phones. So apple may have a harder time getting that sort of growth. Tom i thi
But wall street analysts did not like what they saw in the numbers. To that end, many firms cut their price target for apple today, including jefferies which slashed its target by 200 a share. Jefferies also downgraded the shares to a hold from a buy, saying we think apple is losing the screensize wars, noting demand is moving away from the iphone 5 to competitors with fiveinch screens like samsung. Because apple shares are so widely held, many investors tonight are wondering what to do with them. Perhaps apple is no longer considered a growth stock. But, is it already low enough to be considered a value play . Suzanne pratt, n. B. R. , new york. Susie joining us now with more analysis on apple, and those microsoft earnings, collin gillis, Technology Analyst at b. G. C. Partners. Thely for apple their growth is slowing down. It is not the type of growth that wall street labels growth stock. When you see that market selloff today it has put apple evaluation clearly into the value territ