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
Cramer’s MAD MONEY: Calls a Triple in NYSE (NYX)
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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