06/08/12 Kraft moves blue chip listing to Nasdaq
(Reuters) - Kraft Foods Inc (KFT) is moving its stock listing to the Nasdaq from NYSE Euronext's (NYX) New York Stock Exchange, handing Nasdaq OMX Group Inc (NDAQ) its biggest victory yet in its listings war with the Big Board.
The move comes just three weeks after technical glitches on Nasdaq's exchange marred Facebook Inc's (FB.O) highly anticipated market debut, causing tens of millions in losses for market makers, which facilitate trades for brokers.
The listings switch will save Kraft money and give its brands better visibility through Nasdaq's marketing initiatives, the snack-maker's spokesman, John Simley said on Friday. He did not give any financial details.
Nasdaq and the NYSE have competed aggressively for listings over the past several years.
Other recent listings wins for Nasdaq include Texas Instruments Inc (TXN.O), Western Digital Corp (WDC.O) and Analog Devices Inc (ADI.O).
Source: http://finance.yahoo.com/news/kraft-moves-blue-chip-listing-232422415.html | | | |