Cramer's MAD MONEY: Calls a Triple in NYSE (NYX)
Last night on CNBC's MAD MONEY Jim Cramer was discussing New York Stock Exchange (NYX).
He said there is an $87.00 stock that is going to $250.00 in the next two-years: New York Stock Exchange (NYX). He said it is still noted by Wall Street as fully valued, but they are wrong. He said it doesn't even matter that it was up $5.00 today and you would wonder why it isn't up even more. He said there are no sellers of the stock. The specialists aren't selling, the old Archipelago holders aren't sellers. Cramer thinks a NYSE & Euronext combination could be huge. Cramer said he was shocked at how quiet the floor was yesterday because it is thinning out. Cramer thinks the floorless trading is coming soon rather than later. he said the 500 worker cut this week was 17% of its workforce and they recently closed 1 of the 5 trading rooms. He thinks this is a secular growth story. He thinks it is going to $250 because: 1) hybrid systems rollout is speeding up trades, 2) they won't have to get into bidding war over Euronext, 3) it was archaic and poorly run, but well run now and massive improvements, 4) Euronext savings will be $600 million, 5) working deals in india and Japan, and 6) the hybrid system will help trim that $350 million floor operation expenses. He thinks it can earn $10 per share faster than he even thought a month ago, even though the street is only at $5.00 EPS for 2008.
Jon C. Ogg
He said there is an $87.00 stock that is going to $250.00 in the next two-years: New York Stock Exchange (NYX). He said it is still noted by Wall Street as fully valued, but they are wrong. He said it doesn't even matter that it was up $5.00 today and you would wonder why it isn't up even more. He said there are no sellers of the stock. The specialists aren't selling, the old Archipelago holders aren't sellers. Cramer thinks a NYSE & Euronext combination could be huge. Cramer said he was shocked at how quiet the floor was yesterday because it is thinning out. Cramer thinks the floorless trading is coming soon rather than later. he said the 500 worker cut this week was 17% of its workforce and they recently closed 1 of the 5 trading rooms. He thinks this is a secular growth story. He thinks it is going to $250 because: 1) hybrid systems rollout is speeding up trades, 2) they won't have to get into bidding war over Euronext, 3) it was archaic and poorly run, but well run now and massive improvements, 4) Euronext savings will be $600 million, 5) working deals in india and Japan, and 6) the hybrid system will help trim that $350 million floor operation expenses. He thinks it can earn $10 per share faster than he even thought a month ago, even though the street is only at $5.00 EPS for 2008.
Jon C. Ogg
posted by douglas mcintyre at 4:15 AM
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