NASDAQ

Here’s What We Know So Far About The Shutdown At The NASDAQ

Source: http://www.businessinsider.com/confusion-over-the-nasdaq-2013-8

nasdaq omx

Trading on the NASDAQ halted Thursday afternoon due to a technical issue with something called UTP SIP quote dissemination.

UTP, or “unlisted trading privileges” refers to the ability of other exchanges to trade stocks on the NASDAQ and SIP (“securities information processor”) is the system by which NASDAQ sends quotes of those securities to other exchanges.

Exchange officials are scrambling to a) figure out what happened and b) resume trading safely. At this point, everyone is just confused. From the Wall Street Journal:

“It’s really shocking. We’re stuck,” said Ramon Verastegui, head of global engineering and strategy at Société Générale. “If we want to trade Apple, we can’t.”

With no new updates, CNBC pundits were locked in a talking heads decabox.

The “market is too complicated” and “ridiculously complex” said former Nasdaq Vice-Chair David Weild to CNBC.

Both the NYSE and the BATS Exchange stopped trading in all NASDAQ-listed Tape C securities, per NASDAQ’s request. Tape C securities are listed on the NASDAQ or NASDAQ Small Cap exchange.

NASDAQ now says it will resume trading between 2:45 and 3:10 ET, but it had been largely radio silent since its 1 PM alert:

NASDAQ intends to re-open trading in all Tape C securities with a halt cross wi! th a 5-m inute quote only period starting at a time to be determined.  NASDAQ will not be cancelling open orders on the book.  Customers who wish to cancel their orders may do so and any customer who wishes to not participate in the re-opening should cancel their orders prior to the resumption of trading. Additionally, NASDAQ will clear all stale quotes from the UTP SIP prior to the commencement of trading.

A low volume day should mean the NASDAQ can get back on its feet, according to CNBC. But we’re still waiting.

 


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Thursday, August 22nd, 2013 news No Comments

drag2share: US Indicts Hackers in Biggest Cyber Fraud Case in History

Source: http://www.businessinsider.com/us-indicts-hackers-in-biggest-cyber-fraud-case-in-history-2013-7

malware moneyNEWARK, N.J./BOSTON (Reuters) – Federal prosecutors said on Thursday they have charged five men responsible for a hacking and credit card fraud spree that cost companies more $300 million and two of the suspects are in custody, in the biggestcyber crime case filed in U.S. history.

They also disclosed a new security breach against Nasdaq, though they provided few details about the attack.

Other companies targeted by the hackers include a Visa Inc licensee, J.C. Penney Co, JetBlue Airways Corp and French retailer Carrefour SA, according to an indictment unveiled in New Jersey.

Authorities have been pursuing the hackers for years. Many of the breaches were previously reported, though it appeared the one involving Nasdaq OMX Group Inc was being disclosed for the first time.

Prosecutors said they conservatively estimate that the group of five men from Russia and Ukraine helped steal at least 16! 0 millio n payment card numbers, resulting in losses in excess of $300 million.


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Friday, July 26th, 2013 news No Comments

The Nasdaq Sentiment Index Is Sending A Dotcom Bubble Sell-Signal

Source: http://www.businessinsider.com/nasdaq-sentiment-at-highest-level-since-2000-2013-2

You might have thought that Monday’s slide in the equity market wiped out quite a bit of the euphoria in the markets.

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Thursday, February 28th, 2013 news No Comments

This Chart Is Driving Apple Bulls Crazy (AAPL)

Source: http://www.businessinsider.com/chart-of-the-day-apple-pe-2011-12

Apple’s price to earnings ratio is at a relatively paltry 14 right now, and it’s driving Apple bulls crazy.

The chart below, which shows Apple’s shrinking PE, from Apple analyst Andy Zaky has been passed around for the last week. (At the time Apple’s PE was 13.3.)

What’s wrong with this chart?

Zaky explains: “Now even though Apple’s growth has far and outpaced the growth of Oracle (16.35 P/E), Amazon (96.15 P/E), Google (19.19 P/E), Cisco (15.11), Qualcomm Inc. (20.62), Amgen, Inc (13.53), Comcast (15.11 P/E), IBM (13.95 P/E), Chevron (13.50), Johnson & Johnson (14.94 P/E), Procter & Gamble (15.49 P/E), and AT&T (13.91 P/E), the stock trades at a far lower valuation relative to these top holdings on the NASDAQ-100 and S&P 500. Some of these companies have actually contracted in 2011. Yet, the market values the earnings out of these companies on the order of 4-5 times more in some cases than they value the earnings out of Apple.”

Of course, there’s more than one way to value a stock. If you value it based on trailing free cash flow, it’s arguably priced fairly, says our Henry Blodget.

chart of the day, apple quarterly p/e ratio compression, dec. 7 2011

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Wednesday, December 7th, 2011 news No Comments

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