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Nasdaq cancels pre-market trades in 9 big-cap stocks

Source : REUTERS
Last Updated: Thu, Dec 13, 2012 17:50 hrs
People walk outside the Nasdaq Market site in New York's Times Square

NEW YORK (Reuters) - Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks on Thursday, including Citigroup and Hewlett-Packard , the exchange said in a statement.

Nasdaq said it is cancelling trades in nine stocks in which trades occurred at prices that marked a swing of 10 percent or more from Wednesday's closing prices.

"We have no comment further than our ruling," said Robert Madden, a Nasdaq OMX spokesman.

Trades executed in the last minute of premarket trading on a third-party platform show wild swings in shares. Hewlett-Packard, for instance, closed on Wednesday at $14.53 a share. It saw more than 50 trades at $3.06 a piece, according to Thomson Reuters data.

Other stocks affected by the cancellations include AT&T , Wells Fargo , Western Union , Kroger , Ventas , Goldman Sachs and Sprint Nextel .

Nasdaq said trades in the following stocks will stand: Hess , Reynolds American , Williams , Salesforce , IBM , Leucadia National and Molson Coors . Those stocks had also been listed in an announcement by Nasdaq of its investigation into potentially erroneous transactions just before the opening.

(Reporting By David Gaffen; additional reporting by Caroline Valetkevitch; Editing by Chizu Nomiyama and Leslie Adler)




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