NYSE Voids Penny Trades in Anadarko From Last Minute of Trading
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The New York Stock Exchange broke trades in Anadarko Petroleum Corp. after the shares briefly plunged 99 percent in the final minute of today’s session.
The transactions drove Anadarko, the second-largest U.S. independent oil and natural gas producer with a $45 billion market value, down to 1 cent. The stock then recovered and closed at $90.03, up 2.5 percent for the day. NYSE Euronext canceled trades executed at or below $87.56, according to an emailed statement from the exchange.