Some interesting if's and's and butts here.........
San Francisco, Oct. 13 (Bloomberg) -- Following is a summary of earnings expectations for Charles Schwab Corp.:
Expected Earnings
Third-quarter earnings at the biggest Internet broker are expected to rise to 15 cents a share from 12 cents a year earlier, according to the average estimate from nine analysts surveyed by First Call Corp. Forecasts ranged from 14 cents to 16 cents a share.
Time
The San Francisco-based company is expected to report earnings by 9 a.m. New York time Thursday or Friday.
Behind the Numbers
Customer assets rose about 8 percent to $610 million during the quarter, said Amy Butte, an analyst with Bear Stearns & Co. Customer trades likely fell, though Schwab's Mayer & Schweitzer Nasdaq market maker likely gained market share, Butte said. Revenue rose about 28 percent from a year earlier to $900 million.
What Analysts Say
``This will be an example of an expected, if seasonal, slowdown in retail activity,' said Butte, who gives the stock a `buy' rating. ``Schwab focused its investment spending' on advertising, Year 2000 issues and new product development, she said. ``This was a taking-care-of-business quarter.'
Previous Market Reaction
Schwab shares fell 2 15/16, or 5.3 percent, to 52 7/16 on July 16 after the company reported second-quarter earnings and warned its profit margin would likely fall in future quarters as it increased spending on ads and development.
The company said margins could fall closer to its 1997-98 average of about 13 percent of net revenue from 15 percent in the second quarter. Schwab's second-quarter earnings almost doubled to $151 million, or 18 cents a share, meeting analysts' expectations.
Market Performance
Schwab stock is up 5.2 percent this year, compared to a 23 percent gain in the Bloomberg U.S. Internet Financial Services index and a 15 percent gain in the Bloomberg Wall Street Index.
Oct/13/1999 14:31
Just so everyone knows...I don't think there is much more downside here, in fact, I bought more at the close at 28...a steal if you ask me....afterall 8mill+ shares traded today...so there must have been a few buyers there!
Just to keep everything kosher...are you a short too like that Typhoid guy???
Just got longer...
CMM |
