Nasdaq ANNOUNCES $62M Broker Relief and 2 Morning Hot Stocks Driving the Market
In what appears to be a clean-up operation across many News Corp. (NASDAQ:NWS) units, including News International, Rupert Murdoch has resigned from their boards. These newspapers had been involved in the hacking scandal, and Murdoch’s exit may be a precursor to the proposed bifurcation of News corp into two.
Nasdaq OMX (NASDAQ:NDAQ) has announced reliefs, mostly in the form of discounted trading costs, totaling about $62 million to various brokers and market makers who were burned in the technical glitches that engulfed the Facebook IPO. The amount is much better than the initially planned $40 million, but a far cry from the losses reportedly claimed, including $35.4M for Knight Capital (NYSE:KCG), $20M for Citigroup (NYSE:C) and $350M for UBS (NYSE:UBS).
BP’s (NYSE:BP) Russian joint venture, TNK-BPO will study and decide next week on a proposal by BP to pay shareholders an interim dividend of $1 billion, BP’s take of which would be $500 million.