The Deal Is Dead, So Here's Your Move

The NYSE Euronext (NYX)-Deutsche Boerse merger is officially dead, and NYSE Euronext can now focus on what it does well as a separate entity: the trading and listing of stocks, bonds and derivatives, along with the sale of market data.

Those are solidly profitable businesses that have generated operating earnings of more than $2 per share (excluding nonrecurring items) each year since 2007. NYSE Euronext had a high price-to-earnings multiple from its March 2006 initial public offering until the market meltdown in the second half of 2008. Since then, the average multiple has averaged a more modest 12x to 13x....224 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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