Texas Instruments Inc. (TXN) said it will transfer its stock
listing to the Nasdaq Global Market from the New York Stock
Exchange at the start of next year, giving the electronic exchange
another victory over the Big Board.
NYSE Euronext (NYX) and Nasdaq OMX Group Inc. (NDAQ), the two
biggest U.S. stock exchanges, have for years competed to gain an
edge.
Nasdaq recently won over media giant Viacom Inc. (VIA, VIAB) and
fast-food restaurant chain Wendy's Co. (WEN), which both made the
moves in an effort to save money.
Texas Instruments' move to the traditionally tech-heavy Nasdaq
exchange "is a natural fit," said Ron Slaymaker, head of investor
relations at the global semiconductor company. The move also "will
enhance our public visibility while offering our shareholders
cost-effective access to advanced trading technologies."
Texas Instruments will keep the ticker symbol TXN and begin
trading on Nasdaq on Jan. 3.
Shares closed Wednesday at $28.04 and were inactive premarket.
The stock is down 14% this year.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com