More profits taken in online broker names

The online brokers trade lower despite a big earnings report from TD Ameritrade (AMTD -2%), and an upgrade to Outperform for E*Trade (ETFC -1.5%) from Wells Fargo ahead of its results after the bell today. Schwab (SCHW -1.5%) - reported Q1 last week.

Big picture: Though struggling for the last month amid the heightened level of HFT hubbub, the brokerage names have had major runs thanks to sharply higher levels of trading activity. The next catalyst higher will likely be boosted short-term interest rates ... timing yet to be decided.

On the earnings call, AMTD management says it expects FY EPS near the high end of $1.20-$1.40 guidance. Street consensus is for $1.44.

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