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By Greg Morcroft, MarketWatch NEW YORK (MarketWatch) — Shares of Nasdaq OMX Group Inc. rose more than 4% Friday after Goldman Sachs upgraded its rating to buy following the exchange operator’s failed bid to acquire rival NYSE Euronext.
President Barack Obama says that France and the U.S. will "finish the job" in Libya after holding a bilateral meeting with French President Nicolas Sarkozy, at right. Video courtesy of Reuters.
Goldman said Nasdaq OMX /quotes/comstock/15*!ndaq/quotes/nls/ndaq NDAQ +4.06% should outperform its peers because the company relies less on transaction revenue than rivals. Goldman said Nasdaq OMX relies on fees for 34% of its revenue, the lowest among its exchange competitors.
Analysts at Goldman have an earnings estimate for 2012 and 2013 that is 5% to 8% above the Wall Street consensus.
Nasdaq OMX shares rose 4.1% to close at $25.37, while NYSE Euronext /quotes/comstock/13*!nyx/quotes/nls/nyx NYX +0.42% ended up 15 cents at $35.67.
Aflac Inc. shares fell 3.2% to close at $48 after Morgan Stanley downgraded the insurer to equal-weight.
Morgan Stanley analysts reviewed life insurers’ capital, as measured by Japanese regulators, and found that Aflac’s capital was “less robust” than rivals like Prudential Financial /quotes/comstock/13*!pru/quotes/nls/pru PRU -0.63% and MetLife Inc. /quotes/comstock/13*!met/quotes/nls/met MET +0.69%
Prudential shares declined 0.4% to close at $63.17, while MetLife rose 30 cents to end at $43.76.
American International Group /quotes/comstock/13*!aig/quotes/nls/aig AIG +0.45% said Friday that it and the Treasury Department completed their sale of 300 million shares of common stock in the insurer.
Treasury has also granted the underwriters an option to purchase up to 45 million additional shares to cover sales of shares in excess of those 300 million shares.
AIG shares climbed 13 cents to close at $28.89.
In the broader market, the Financial Select Sector SPDR ETF /quotes/comstock/13*!xlf/quotes/nls/xlf XLF +0.71% , which tracks the financial stocks in the S&P 500 /quotes/comstock/21z!i1:in\x SPX +0.41% , ended Friday up 0.7%.
Among the financial stocks in the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed DJIA +0.31% , all four — American Express Co. /quotes/comstock/13*!axp/quotes/nls/axp AXP +0.89% , Bank of America Corp. /quotes/comstock/13*!bac/quotes/nls/bac BAC +2.01% , J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm JPM +0.80% , and Travelers Co. /quotes/comstock/13*!trv/quotes/nls/trv TRV +0.51% — all rose.
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/quotes/comstock/13*!nyx/quotes/nls/nyx /quotes/comstock/13*!pru/quotes/nls/pru /quotes/comstock/13*!met/quotes/nls/met /quotes/comstock/13*!aig/quotes/nls/aig /quotes/comstock/13*!xlf/quotes/nls/xlf /quotes/comstock/21z!i1:in\x /quotes/comstock/10w!i:dji/delayed /quotes/comstock/13*!axp/quotes/nls/axp /quotes/comstock/13*!bac/quotes/nls/bac /quotes/comstock/13*!jpm/quotes/nls/jpm /quotes/comstock/13*!trv/quotes/nls/trv Greg Morcroft is MarketWatch's financial editor in New York. View the original article here
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