39.25 +1.60 (4.25%)
After hours: 6:24PM EDT
|Bid||39.13 x 3100|
|Ask||39.35 x 1200|
|Day's Range||36.95 - 37.98|
|52 Week Range||32.69 - 57.88|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||10.01|
|Forward Dividend & Yield||1.20 (3.26%)|
|1y Target Est||N/A|
Stock futures: Cadence Design Systems, Vertex Pharmaceuticals, Stamps.com and a big opioid settlement made headlines after the stock market recouped Friday's losses.
The Bank of America subsidiary now offers free equity and ETF trades to anyone with $20,000 and up in their qualifying accounts. All others get a fee cut from $6.95 to $2.95.
TD Ameritrade (AMTD) delivered earnings and revenue surprises of 8.25% and 6.16%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
(AMTD) stock (ticker: AMTD) was rising in late trading Monday after the online brokerage beat earnings and revenue expectations. TD Ameritrade stock has fallen 23% so far this year and about 25% in the trailing one-year period. Much of those losses came after (SCHW) (SCHW) cut trading commissions to zero, forcing competitors like TD Ameritrade to follow suit.
TD Ameritrade Holding Corp. shares gained more than 1% in the extended session Monday after the company beat sell-side expectations for earnings and revenue. The company eliminated the fees for most of its online trading activity earlier this month, which will eat into the company's revenue, TD Ameritrade has previously said. The financial services company reported fiscal fourth-quarter net income of $551 million, or a dollar a share, compared with $454 million, or 80 cents a share, in the year-ago period. Adjusted for items such as amortization of acquired intangible assets, earnings were $1.05 a share. Revenue rose to $1.56 billion from $1.4 billion in the year-ago period. The company has previously warned investors that it expects a reduction in quarterly revenue of $220 million to $240 million, or 15% to 16% of sales, because it is eliminating commissions for online exchange-listed stock, exchange traded funds, and options trades. "Earnings are expected to decline in the first quarter of fiscal year 2020, but with a stronger competitive position, we expect to see stronger organic growth," chief financial officer Steve Boyle said in a statement. Analysts surveyed by FactSet had estimated adjusted earnings of 98 cents a share on revenue of $1.47 billion. For the fiscal first quarter, analysts model adjusted earnings of 71 cents a share on sales of $1.25 billion. TD Ameritrade stock has fallen 23% this year, with the S&P 500 index rising 19.1%.
Shares of SmileDirectClub are down almost 60% since a September IPO. The next challenge for the company is fending off angry dentists.
E*TRADE's (ETFC) Q3 performance displays a rise in non-interest income, a benefit to provision for loan losses and improved DARTs, partly muted by fall in net interest income and higher expenses.
Chuck Schwab, founder and chairman of the Charles Schwab Corp. is taking a victory lap. As the man who helped launch the discount brokerage revolution after the Securities and Exchange Commission dismantled the system of fixed-price commissions on stock trades way back in 1975, his firms decision to cut commissions to $0 is just “completing the path” he began more than 40 years ago, he said at an event for his new book “Invested” in New York Thursday. “Wall Street wouldn’t have done this, let me assure you,” Schwab said.
Even with Charles Schwab, Vanguard, E*Trade, TD Ameritrade, and Fidelity cutting many trading commissions to zero, many mutual funds will still have associated trading fees.
While thousands of mutual funds can be traded without transaction fees, in many cases, investors will still pay fees that can run as high as $75 per trade even as the major discount brokers eliminate their other trading commissions.
The discount brokerage firm continues to power ahead despite competition that has driven commissions on trading stocks to zero.
TD Ameritrade (AMTD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
While it’s far from being the worst hit I’ve taken, it’s never fun when you essentially wipe an entire week of profits from your trading account. Instead, I want to zoom out a bit further and look at the broader aim of day trading and how the daily pressure to turn a profit and make the best financial decisions possible can sometimes lead you to overlook important details, even when they’re right in front of your face. What really got me started thinking this way were last week’s announcements from the major brokerages that they were all dropping commission fees.