I say this pig will go down on this positive news.
biz.yahoo.com
<<Wednesday December 29, 9:18 am Eastern Time
Schwab sees quarterly profits $162-$171 million
SAN FRANCISCO, Dec. 29 (Reuters) - No. 1 U.S. online broker Charles Schwab Corp. (NYSE:SCH - news) said on Wednesday it expects fourth-quarter profits to exceed Wall Street expectations, coming in at $162-$171 million, or $0.19-$0.20 a share, on the back of robust stock trading volumes.
Revenues should hit a record $1.1 billion in the quarter, the San Francisco-based company said.
Charles Schwab stock closed at 33-15/16 on Tuesday on the New York Stock Exchange.
''After a very active November, December is shaping up to be our busiest month ever, with customer daily average revenue trades of 236,000 through the 27th,'' Schwab President and Co-Chief Executive David Pottruck said in a statement. ''These trading volumes have helped put the company on track to achieve record revenues of more than $1 billion for the fourth quarter and achieve record profits as well.''
In last year's fourth quarter, Schwab booked $106 million in profit, or $0.12 a share, on $789 million in revenues. This quarter, analysts had expected the discount and online broker to earn $0.17 a share, according to First Call/Thomson Financial, which tracks analysts' estimates.>> |
