NP says TD shares skyrocket while Green Line sputters
Toronto-Dominion Bank (The)
TD
Shares issued 297,183,549
1999-04-12 close $86.25
Tuesday Apr 13 1999
The National Post reports in its Tuesday edition that Toronto-Dominion Bank's
share price yesterday made its biggest single-day gain since last November on the
strength of its on-line brokerage business, despite a technical glitch that caused its
Canadian on-line service, Green Line Investor Services, to crash several times in
the morning. TeleMax and TalkBroker, two Green Line telephone services, were
blocked by intermittent busy signals, while WebBroker and MicroMax, two
on-line trading systems, were also down erratically throughout the morning. TD
was not "100-per-cent sure" what went wrong. TD's stock price, up $8.50 to
close at $86.45 on the Toronto Stock Exchange, received a new boost yesterday
with coverage in the highly respected Barron's, the Dow Jones & Co. business
and finance weekly. "The booming valuation of on-line brokers may not be getting
fully reflected in the shares of Toronto-Dominion bank, owner of Waterhouse
Investor Services, the No. 2 [U.S.] on-line broker," wrote a Barron's columnist.
He also compared Waterhouse with No. 1 on-line broker Charles Schwab Co.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
