To: Steven Taylor who wrote (653 ) 2/3/1999 3:02:00 PM From: Rainy_Day_Woman Read Replies (1) | Respond to of 2231
Steve~ i zone out for the morning and when i come back, WOW :-) looked for news sector hot Waterhouse's potential ability to make an acquisition in the online space is one reason cited by some analysts for the spike in some Internet broker stocks. The growth of online trading, and the business that brings in for the e-brokers, is another. Shares of most e-brokers skyrocketed on Wednesday. Ameritrade (AMTD) spiked 11 15/16 to 122 1/4. National Discount Brokers (NDB) rose 9 to 36 and Siebert (SIEB) climbed 15 1/2 to 41 1/2. J.B. Oxford holding (JBOH) rose 5 9/16 to 10 5/16. Ameritrade officials offered no insight Wednesday into why the company's stock was moving. "We haven't had any announcement; we haven't done anything," a spokeswoman said. Discount broker Charles Schwab (SCH) edged down 3/8 to 68 1/4. E-Trade Group (EGRP) was down 1 5/8 to 56 5/8. E-Trade posted a notice on its site asking its online customers to avoid delays by calling in their trades instead. A spokesperson said some customers couldn't execute trades. See story Toronto Dominion shares were up at 1 3/16 to 43 7/16. Charles Schwab Corp. last reported trading volumes of 152,000 trades a day; Waterhouse, which is in the U.S. top five, posted volume at 67,000 a day in the fourth quarter, according to CS First Boston. Online brokerage accounts account for approximately 25 percent of all retail stock trades, according to the Securities and Exchange Commission. The number of on-line brokerage accounts is expected to exceed 10 million by the end of the year, SEC Chairman Arthur Levitt said in a statement. sherry