Heard on the Street

Financial Analysis & Commentary

Email: heard@wsj.com WSJ.com/Heard
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    NYSE Steals LSE's Thunder

    The planned merger between NYSE Euronext and Deutsche Börse is a game-changer for the global exchange market. And once again, the London Stock Exchange is being left behind.

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    Mobile Phones Find Second Life

    The secondary market for smartphones is just getting going. That should be good news for Apple, as it is likely to give people more reason to opt for an iPhone over competing brands.

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    Wells Fargo Springs Finance Surprise

    Many investors were taken aback by the abruptness of Wells Fargo's announcement that finance chief Howard Atkins would step aside immediately. There is plenty for investors to consider.

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    ECB Succession: Keep Calm and Carry On

    Let the jostling begin, following reports that Bundesbank chief Axel Weber is ruling himself out as a candidate to become president of the European Central Bank.

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    Cash Hoards Offer Hope

    With consumers deleveraging and governments feeling the pinch, corporate spending is key to the recovery. And the conditions may favor an acceleration.

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    Trans-Atlantic Tie-Up Underwhelms at LSE

    London Stock Exchange's shares rose after it agreed to merge with Canada's TMX Group to create the world's largest stock exchange by listings. But bigger does not always mean better.

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    For Hollywood, the Price Must Be Right

    For Hollywood, rescuing its troubled home-entertainment business is a little like "Mission: Impossible": full of twists and turns.

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    Reckitt's Vanishing Premium

    Reckitt Benckiser is in danger of losing its sheen. CEO Bart Becht, who admitted the consumer-goods group had narrowly missed its 2010 forecasts, has his work cut out for him to pull this house into order.

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    A $3.6 Million Twist at Dynegy

    A regulatory filing late Tuesday revealed Dynegy's general counsel J. Kevin Blodgett left the struggling power generator last Friday, walking away from a potential payment of $3.6 million.

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    Toyota's Parental Problem

    Quality issues are only part of the problem confronting Toyota. It's not making enough money from making cars because of excess production capacity in Japan and not enough overseas.

Overheard

 

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    Flag Wrapping

    Americans often cry foul when important assets wind up in foreign hands. But it is worth a look at the numbers before protesting Deutsche Börse's possible purchase of NYSE Euronext. U.S. investors own the vast majority of NYSE shares. They also own 41% of Deutsche Börse, according to the most recent data on the exchange's Web site. Germans, meanwhile, own just 17% of Deutsche Börse. If the deal goes ahead as envisioned, word on the Street is that U.S. investors will wind up owning about 60% of the combined company. Politicians should think twice before wrapping themselves in the flag.

    ***

    Data-center executives may never have been so popular. After Verizon's acquisition of cloud-services company Terremark Worldwide, followed days later by Time Warner Cable's purchase of rival Navisite, "bankers are swarming" says Jim Ousley, CEO of Savvis, another leader in the industry. For his Wednesday trip to New York, Mr. Ousley reported having "no problem getting offers for lunch."

overheard@wsj.com

Footnotes

Data is provided for information purposes only and is not intended for trading purposes. Thomson Reuters shall not be liable for any errors or delay in the content, or for any action taken in reliance on any content. The RIC or Reuters Instrument Code set has been developed and maintained by Thomson Reuters and is the intellectual property of Thomson Reuters.

Indexes: Dow Jones U.S. and international indexes are updated in real-time. Source: Dow Jones & Co.

Other U.S. indexes are updated in real-time, except for the following delayed 20 minutes: PHLX; delayed 15 minutes: Russell.

Other international indexes are updated in real-time, except for the following delayed 15 minutes: Bel-20, CAC 40, FTSE, Hang Seng, OMX , Shanghai Composite, STOXX; delayed 20 minutes: Nikkei, S&P, TAIEX.

Source: Thomson Reuters.

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