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Enough top-performing CAPS investors have turned bullish on InterContinentalExchange
Founded by Goldman Sachs
With estimated future five-year annual revenue growth of 22%, ICE is in a good position to profit from global futures trading. Some also anticipate the carbon credit market becoming the world's biggest commodities market. With companies like General Electric
With strong numbers reported for ICE's recent second quarter -- 44% higher revenue and a 58% increase in profits -- and a share price down by 55% year to date, the board had the confidence to authorize a repurchase of up to $500 million in ICE stock over the next 12 months. More than 94% of CAPS members rating InterContinentalExchange also have confidence -- along with some top fund managers -- that the stock will outperform the market.
Fool contributor Dave Mock is hoping for a seat upgrade on his next flight across the country, but he's not counting on it. He owns no shares of companies mentioned here and is the author of The Qualcomm Equation. Nasdaq OMX Group is an Inside Value recommendation. The Fool's disclosure policy can keep 14 plates spinning at once.