From the
‘
No Surprise
’
files:
Networking vendor Juniper Networks is currently listed on the NASDAQ as JNPR. That’s soon about to change as Juniper to set to be on the NYSE by October 29th. Surprisingly though Juniper will still be traded under the JNPR symbol.
I’m not surprised that Juniper is moving to the NYSE. The reason is simple, Juniper recently was awarded a big deal that will see its networking gear help to power the NYSE’s next generation data centers.
The NYSE seems to have this ‘interesting’ pattern of getting tech vendors that it uses for its own infrastructure, to be traded on its own exchange. Another recent example is Linux vendor Red Hat (NYSE:RHT). In May of 2008, the NYSE announced that it was going to use Red Hat’s Linux for its exchange. Red Hat moved from the NASDAQ to the NYSE at the end of 2006.
In Red Hat’s case they were also looking to help differentiate themselves, which I suspect is the case with Juniper as well.
“We are looking forward to participating in the world’s leading and most diverse global exchange with a shared vision around technology innovation,” said Kevin Johnson, Juniper’s Chief Executive Officer in a statement. “Juniper is delivering an ever-broader array of networking solutions and expanding our presence into service provider and enterprise markets globally. With many of our business partners and customers already listed on the NYSE, joining them on the Big Board aligns well with our strategic goals.”