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Non-Tech : SWS - An undiscovered gem -- Ignore unavailable to you. Want to Upgrade?

To: CRay33 who wrote (2)	1/22/1999 9:34:00 PM
From: CRay33	Read Replies (2) \| Respond to of 504

Checkout these ratio comparisons to Etrade, Ameritrade & DLJ: P/S EGRP=13.2, AMTD=9.47, DLJ=1.12, SWS=1 P/E EGRP= N/A, AMTD=10700? should be 5350, DLJ=15.67, SWS=14.52 P/B EGRP=6.7, AMTD=18.36, DLJ=2.37, SWS=2.11 Recent news on NITE: JERSEY CITY, N.J., Jan 20 (Reuters) - Knight/Trimark Group Inc. (Nasdaq:NITE - news), the largest market maker on the Nasdaq electronic stock market, on Wednesday posted a 78.5 percent rise in earnings as a surge in online stock trading led to a doubling of the daily average of trades it carried out. The company, which went public in July, earned a record $17.5 million, or 33 cents a share, in the fourth quarter ended Dec. 31. That compared with a pro forma net income of $9.8 million, or 18 cents a share, in the year-ago period. The results surpassed Wall Street expectations of 26 cents a share. The year-ago results are adjusted to include taxes Knight/Trimark would have paid if it had been a publicly owned entity. Revenues rose 78 percent to $119.3 million in the quarter from $67.0 million in the year-ago period. Knight/Trimark, which deals in 6,700 stocks, benefited from a surge in online trading in the fourth quarter, as investors went on a stock shopping spree via the Internet. The company carried out, or executed, 215,564 trades per day on the average in the quarter, more than double the 102,912 trades a day it executed in the year-ago quarter and 31 percent more than the 164,217 average daily trades it recorded in the third quarter. ''We knew they were going to have some good numbers, but their revenues and profits were way up,'' said analyst Scott Appleby of ABN-AMRO. ''They kept profit margins up despite volatility in Internet stocks, which is remarkable.'' Knight/Trimark is partly owed by a slew of cyberspace brokerages, including E*Trade Group Inc. (Nasdaq:EGRP - news), AmeriTrade Holding Corp. (Nasdaq:AMTD - news), Morgan Stanley Dean Witter & Co.'s (NYSE:MWD - news) on-line subsidiary, Toronto-Dominion Bank's (Toronto:TD.TO - news) Waterhouse securities and Southwest Securities Group Inc. (NYSE:SWS - news). These brokerages, which posted record trading volumes in the fourth quarter, funnel their trades to Knight/Trimark for execution. Knight/Trimark's momentum has showed no sign of slowing, and the company executed more than 400,000 trades one day last week. The company has said it executes around half of all Internet trades. ''They have probably had a stronger January than December,'' Appleby said.