|Day's Range||6.30 - 6.30|
Oct.08 -- Thomas Peterffy, founder and chairman at Interactive Brokers, discusses the online broker war, how China’s capital controls are impacting his business, other Asian markets that are offsetting restrictions from China, the move to zero commissions and what it means for the industry. He speaks exclusively on “Bloomberg Markets: China Open.”
E-Trade earnings beat views late Thursday and Charles Schwab topped Q3 views early Tuesday, while Interactive Brokers fell short late Tuesday.
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.
Shares of Interactive Brokers Group Inc. fell slightly in the extended session Tuesday after the brokerage reported third-quarter sales above Wall Street expectations and its quarterly per-share profit was in line with views. Interactive Brokers said it earned $36 million, or 45 cents a share, in the quarter, compared with $39 million, or 51 cents a share, a year ago. Revenue was $466 million, compared with $439 million a year ago. The company pinned the results in part on a 19% growth in net interest income and a 12% increase in commissions revenue from a year ago. Analysts polled by FactSet had expected earnings of 45 cents a share on sales of $461 million. Shares of Interactive Brokers ended the regular trading day up 0.9%. The company announced last month that it was rolling a "lite" version of its trading platform with free trading for U.S. equities, a move followed by similar announcements from companies such as Fidelity Investments, Charles Schwab Corp. and TD Ameritrade Holding Corp.
Income Before Taxes of $281 Million on $466 Million in Net Revenues, Earnings Per Share on Net Income of $0.45 and Earnings Per Share on Comprehensive Income of $0.39.
NEW YORK, NY / ACCESSWIRE / October 15, 2019 / Interactive Brokers Group, Inc. Class A (NASDAQ:IBKR) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October ...
NEW YORK, NY / ACCESSWIRE / October 15, 2019 / The Goldman Sachs Group, Inc. (NYSE: GS ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October 15, 2019 at ...
Don't be caught off-guard: Interactive Brokers Group (NASDAQ: IBKR ) releases its next round of earnings Tuesday. Want to skip the homework and get all the facts in one place? We thought so. Here is your ...
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and deteriorating expectations towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the second quarter and hedging or reducing many of […]
A week after Schwab, TD Ameritrade and E*TRADE cut their base commissions to zero, Fidelity makes the same move while emphasizing their overall value to investors
Moody's downgrades the outlook for E*TRADE Financial (ETFC) and Charles Schwab (SCHW), following fee cut announcement. The outlook for TD Ameritrade (AMTD) remains stable.
The Robinhood app will launch a new service for earning interest on, and spending, uninvested cash nearly a year after its checking account fiasco.
People who trade stocks online cheered last week when several large retail brokers slashed stock-trading commissions to zero, a move made possible, in part, by a controversial source of broker revenue that has drawn regulatory scrutiny. Charles Schwab Corp, TD Ameritrade Holding Corp and E*Trade Financial Corp followed the lead of Interactive Brokers in eliminating stock and exchange-traded fund trading commissions, sending their share prices tumbling on the revenue they were giving up. There is also payment for order flow, in which wholesale market makers, like Citadel Securities or Virtu Financial pay for the first crack at executing a stock order.
For loyal followers of Matt McCall's "Moneyline" podcast, you'll notice a callback in this week's episode. Early in September, he warned investors to stay away from the WeWork IPO, and boy, was he right. In the last few weeks, the company delayed and then cancelled its IPO. Why? Allegations of co-founder Adam Neumann's drug use and company management took over headlines. Just this morning, WeWork announced it would cut as much as 25% of its workforce.So then how do you invest safely in IPO stocks? McCall urges investors to do "boots-on-the-ground" research to get a better feel for a company. He also warns listeners not to get distracted by a CEO's charisma or long, flowing hair. Using that research, he put together a list of compelling IPO stocks from 2019.While Beyond Meat (NASDAQ:BYND) stock has performed well this year, it doesn't make the list. Instead look to lesser-known names. Kodiak Sciences (NASDAQ:KOD), Palomar Holdings (NASDAQ:PLMR) and Yeti (NYSE:YETI) are some of his top picks.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? What's different about these picks? They're "real" companies that will make shareholders money. On the flip side, WeWork might have been a great stock to talk about at bars, but it's a losing play. McCall's PodcastIPO stocks aren't the only thing McCall has advice on. In this week's episode of "Moneyline," he's back to his soothing words on the state of the stock market today. As rumors of a global recession and an ending bull market soar, he maintains that we've got at least one rally left.How does he determine this? Well, he looks at all that's bad and good in the investing world right now. The U.S.-China trade war, talks of President Donald Trump's impeachment and an ongoing UAW strike against General Motors (NYSE:GM) are weighing the market down. But a supportive Federal Reserve and low rates of unemployment are big positives. Plus, as McCall says, if the White House can be slightly less manic, there's huge upside ahead.Oh, and you've probably heard the news that Interactive Brokers (IEX:IBKR) led the trend of online brokers offering commission-free trading. In recent days, Charles Schwab (NYSE:SCHW), E*Trade (NASDAQ:ETFC) and TD Ameritrade (NASDAQ:AMTD) have joined its ranks. Is this a sure sign that online brokers are doomed? No. Listen in for more information on what this means, how Robinhood is involved and how you can turn this news into a great retirement savings opportunity.Tune in to Matt McCall's "Moneyline" podcast to learn more about all this, and above all else, remember not to panic next time you turn on the news.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Best ETFs for 2019: The Race Is a Little More Gnarly Now * 7 Next-Generation Healthcare Stocks to Buy * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? The post Disappointed by WeWork? Check Out These IPO Stocks. appeared first on InvestorPlace.
The race to the bottom is over: all major brokerages have, or shortly will, offer commission-free trading. But Interactive Brokers is best-positioned to win now.
Online brokerages are eliminating fees and commissions but plan to make up the lost revenue by selling order flow which could draw greater SEC scrutiny.