Stock of the Day – UPDATE!
International Securities Exchange Holdings
Monday’s Intra-day Price: ISE – $64.71
I don’t screen many stocks on this blog but when I do, I keep them to the best; based on my research and beliefs of the market. ISE has been posted on this blog multiple times since last fall along with its sister stocks such as ICE, BOT, CME and NMX. I have made some solid trades with these exchange stocks and I know that readers have as well.
The former MSW members had tracked ISE for more than 30 consecutive weeks on the MSW Index as it traded along the major moving averages and built two consecutive cup shaped bases. All holders have been rewarded nicely with the news today.
Too bad my options are in NMX and not ISE.
If you haven’t already heard, ISE opened at $65.40 and currently trades 42% higher than it did last Friday.
Yahoo-Reuters News Story:
International Securities Exchange’s board of directors accepted a $67.50 per-share takeover offer from Deutsche Boerse, a source familiar with the situation said on Monday.
A formal announcement is expected later Monday, the source said. The deal was a friendly, negotiated transaction that emerged out a friendship between the chief executives of the two companies, the source said.
Deutsche Boerse wants to buy ISE to expand in the fast-growing global market for options trading. ISE is the largest U.S. equity options market. The companies could not be immediately reached for comment.
ISE has been highlighted in these posts over the past several months:
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