Intercontinental Exchange is set to report third-quarter earnings before the market opens Thursday. Here is what you need to know.
PROFIT: The owner of the New York Stock Exchange, as well as other bourses and clearinghouses, is projected to post a profit of $994 million, up from $816 million in the same period last year.
ADJUSTED EARNINGS: Stripping out one-time items, earnings are expected to come in at $1.97 a share. That compares with adjusted earnings of $1.71 a share a year earlier.
REVENUE: Quarterly revenue is forecast to be $2.74 billion, up from $2.41 billion last year.
The stock has ticked up 1.5% over the past three months and was recently trading at $155.06.
WHAT TO WATCH
-- The New York Stock Exchange and Nasdaq are both set to extend their trading hours for stocks and ETFs in December to 23 hours a day, five days a week. The change will allow retail traders to buy and sell stocks at times that were previously reserved for institutional investors. Exchanges have said they are looking to keep up with market demand for trading outside of traditional hours, though experts have said mostly just trying to prevent newcomers in the trading space, such as prediction markets, from eating their lunch. Investors will be looking for any insights into the expanded trading hours.
-- The New York Stock Exchange and the Nasdaq have spent years trying to outdo each other as they compete for the hottest new listings. Lately, though, it isn't much of a fight. The Nasdaq stock exchange has won listings of 59 companies, raising nearly $120 billion in traditional IPOs so far this year, The Wall Street Journal reported earlier this month, citing Dealogic. Meanwhile, the NYSE has landed 32 companies, raising $20 billion. Investors will be looking for updates on how NYSE is working to close that gap.
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