‘s pain
Although NYSE lost the Facebook listing, the way Nasdaq bumbled it is surely to help the NYSE long term. According to Barron’s article April 21st, “Even as it invests in its technology and post-trade-services businesses, the firm has streamlined expenses, eliminating $670 million in costs since 2008. As a result, free cash flow last year was $870 million, on $2.7 billion in revenue. NYSE Euronext has signaled that its strong balance sheet can support a bit more debt, enabling it to steadily return cash to shareholders both through share buybacks and a generous dividend—which at the stock’s recent level near $27 … Read more