Brokerage Stocks Plunge As Schwab Eliminates Commissions [The Motley Fool]
Charles Schwab Corporation (The) (SCHW)
Last charles schwab corporation (the) earnings: 4/15 08:45 am
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Source: The Motley Fool
Brokerage Stocks Plunge As Schwab Eliminates Commissions The battle for your investment dollars is intensifying. Discount brokerage titan Charles Schwab ( NYSE:SCHW ) said on Tuesday that it's cutting its commission fees on U.S. stocks and ETFs to zero beginning Oct. 7. Rivals TD Ameritrade ( NASDAQ:AMTD ) and E*Trade ( NASDAQ:ETFC ) plummeted 26% and 16%, respectively, following Schwab's blockbuster announcement. Schwab's move to offer commission-free trading follows a similar move by Interactive Brokers ( NYSEMKT:IBKR ) , which recently launched a free stock trading service . Still, Interactive Brokers fell 9% on Tuesday. Investors were probably hoping that the company's new commission-free service would help it gain market share from its higher-cost rivals. But with Schwab also now eliminating commissions -- and with TD Ameritrade and E*Trade likely to follow suit -- those share gains are unlikely to materialize. E*Trade and TD Ameritrade's shares were also pummeled on the news.
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News
- Should You Expect Strong Earnings Growth for Charles Schwab Corp. (SCHW)? [Yahoo! Finance]Yahoo! Finance
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- An Average American Needs $2.2 Million To Be Wealthy — But Grant Cardone Thinks It's Not Enough [Yahoo! Finance]Yahoo! Finance
- The Charles Schwab Co. (NYSE: SCHW) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.MarketBeat
- The Charles Schwab Co. (NYSE: SCHW) had its price target raised by analysts at TD Cowen from $87.00 to $92.00. They now have a "buy" rating on the stock.MarketBeat
SCHW
Earnings
- 4/15/24 - Beat
SCHW
Sec Filings
- 4/18/24 - Form 144
- 4/18/24 - Form 144
- 4/16/24 - Form 144
- SCHW's page on the SEC website