The Charles Schwab Corporation
 (SCHW)

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  • Wed, Feb. 3, 10:25 AM
    • This just in: The financial sector is having a worse go it this year than energy, with the XLF lower by 13.6% YTD vs. the XLE's 9% decline.
    • Leading a big reversal from this morning higher open is the XLF's 2% decline. The S&P 500 is now off 1%, and the XLE "just" 0.85%.
    • Among the issues for the financials are two items: 1) Hopes for a sustained rate hike cycle have been dashed, with the 10-year yield tumbling all the way to 1.82% currently from about 2.30% when the Fed hiked in mid-December. Fed speakers are all-of-a-sudden sounding very dovish (Dudley is the latest), and short-term rate futures are now pricing in just a 50% chance of even one Fed rate increase this year; 2) For lenders specifically, there's worry over their exposure to the crashing energy sector. No doubt better capitalized today than 10 years ago, losses are still losses even if they don't threaten the viability of the bank.
    • JPMorgan (JPM -2.6%), Wells Fargo (WFC -3.6%), Morgan Stanley (MS -3.5%), KeyCorp (KEY -3.1%), PNC Financial (PNC -2%), Comerica (CMA -2.7%), Schwab (SCHW -3.8%), MetLife (MET -2.5%)
    • ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, BTO, IAT, SEF, IYG, FXO, FNCL, KBWB, FINU, QABA, KRU, KBWR, RWW, RYF, PSCF, FINZ, KRS, XLFS
    | Wed, Feb. 3, 10:25 AM | 16 Comments
  • Tue, Feb. 2, 12:52 PM
    • Alongside energy's underperformance today is the financial sector (XLF -2.4%). The long-awaited hope of a sustained rise in interest rates appears dashed once again - at least so far this year.
    • The 10-year Treasury yield is lower by seven basis points to 1.88% - a nine-month low - and short-term rate markets are now pricing is less than one 25 basis point rate hike for the remainder of the year.
    • TBTFs: Bank of America (BAC -4.4%), Citigroup (C -4%), Goldman Sahcs (GS -4.4%)
    • Regionals: U.S. Bancorp (USB -2.5%), Regions (RF -3.1%), SunTrust (STI -4%)
    • Life insurers: MetLife (MET -3%), Prudential (PRU -3.2%), Lincoln Financial (LNC -3.7%)
    • Online brokerage: Schwab (SCHW -4.2%), E*Trade (ETFC -3.8%), Ameritrade (AMTD -3.6%)
    • ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, BTO, IAT, SEF, IYG, FXO, FNCL, KBWB, FINU, QABA, KRU, KBWR, RWW, RYF, FINZ, KRS, XLFS
    | Tue, Feb. 2, 12:52 PM | 69 Comments
  • Fri, Jan. 29, 5:52 AM
    • Charles Schwab (NYSE:SCHW) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 0.97%
    • Payable Feb. 26; for shareholders of record Feb. 12; ex-div Feb. 10.
    | Fri, Jan. 29, 5:52 AM
  • Tue, Jan. 19, 9:26 AM
    • Net income of $416M or $0.28 per share vs. $350M and $0.25 one year ago. One-time items added $0.04 to this year's results.
    • Asset management fees of $673M vs. $641M a year ago. Net interest revenue of $690M vs. $584M. Trading revenue of $208M vs. $239M.
    • Noninterest expenses of $1.046B vs. $997M a year ago. Compensation and benefits of $572M vs. $543M.
    • Money market fee waivers of $153M down from $193M a year ago.
    • Previously: Charles Schwab EPS of $0.28 (Jan. 19)
    • SCHW +3% premarket
    | Tue, Jan. 19, 9:26 AM
  • Tue, Jan. 19, 8:51 AM
    • Charles Schwab (NYSE:SCHW): Q4 EPS of $0.28 may not be comparable to consensus of $0.25.
    • Revenue of $1.69B (+9.0% Y/Y) beats by $80M.
    • Press Release
    | Tue, Jan. 19, 8:51 AM
  • Mon, Jan. 18, 5:30 PM
    | Mon, Jan. 18, 5:30 PM | 12 Comments
  • Wed, Jan. 13, 10:22 AM
    • Alongside its upgrade of TD Ameritrade, BAML downgrades Schwab (SCHW -1.1%) to Neutral from Buy. There's no detail yet available, but it could be a relative valuation exercise, as Schwab has outperformed Ameritrade by about 1.2K basis points over the past year.
    | Wed, Jan. 13, 10:22 AM | 2 Comments
  • Thu, Jan. 7, 8:19 AM
    • The service - a formula-based system which allocated client cash to ETFs - launched in March, and had $4.1B in AUM as of Sept. 30. This grew 29% in Q4 to $5.3B, says Schwab (NYSE:SCHW).
    • Competition is spreading though, with Fidelity working on its "Fidelity Go" service, and BlackRock acquiring FutureAdvisor.
    • Schwab offers the robo service for free, but investors pay for the costs of the ETFs, many of which are Schwab ETFs.
    | Thu, Jan. 7, 8:19 AM | 1 Comment
  • Tue, Jan. 5, 12:12 PM
    • Schwab (SCHW -1.1%) adds two new providers - Deutsche Asset Management and John Hancock - and 14 new ETFs to its OneSoure platform.
    • Schwab ETF OneSource now offers 226 ETFs from 16 providers with $0 commissions. The platform as of Sept. 30 had $44B in AUM and YTD inflows of $9B.
    • The funds added today (6 from Deutsche, 6 from Hancock, and 2 from Guggenheim): DBEF, DBEM, DBAW, DBEZ, RVNU, HDAW, BSCP, BSJN, JHMC, JHMF, JHMH, JHMT, JHML, JHMM
    • Source: Press Release
    | Tue, Jan. 5, 12:12 PM | 1 Comment
  • Dec. 18, 2015, 3:21 PM
    • Still bullish on the long-term outlook for Schwab (SCHW -3.4%), the team at Piper Jaffray downgraded to Neutral thanks to its expectation for multiple compression over the next year.
    • Higher interest rates should mean re-emerged earnings power, they say, but Schwab is trading at 25x earnings vs. what the team says should probably be more like 18-19x. While not expecting an immediate reversion, the team notes Schwab is more expensive than its peers.
    • The price target of $38 (up from $36, and against the current stock price of $32.09) is based on 21.5x forward four-quarter earnings.
    • Previously: Piper Jaffray pulls Schwab buy recommendation (Dec. 18)
    | Dec. 18, 2015, 3:21 PM
  • Dec. 18, 2015, 9:51 AM
    • Higher short-term interest rates are supposed to be a positive catalyst for Schwab (NYSE:SCHW), which has lost a fortune rebating money market fees to clients so they don't net a negative return on the accounts.
    • Markets do tend to discount these things though, and Piper - on the week the Fed finally hiked - downgrades to Neutral from Overweight, with price target cut to $36 from $38.
    • Shares -1.4% to $32.75.
    | Dec. 18, 2015, 9:51 AM | 2 Comments
  • Dec. 16, 2015, 3:04 PM
    | Dec. 16, 2015, 3:04 PM | 48 Comments
  • Dec. 14, 2015, 1:14 PM
    • November DARTs came in above October levels, say the UBS team, which also estimates total client assets are north of Q4 forecasts, even with market losses and a slowdown in core net new asset growth last month.
    • Parsing some other stats: Mutual funds saw significant outflows of $3.6B, but these were more than offset by inflows into ETFs. Active accounts inbound calls per day and web logins per day of 1.56K were up slightly from October's 1.53K.
    • SCHW +1.1% on the session.
    | Dec. 14, 2015, 1:14 PM
  • Nov. 13, 2015, 10:17 AM
    • October net new assets of $10.5B.
    • Total client assets of $2.54T up 5% M/M, up 4% Y/Y.
    • New brokerage accounts of 88K, up 10% M/M, up 16% Y/Y.
    • SCHW -1.6%
    | Nov. 13, 2015, 10:17 AM | 1 Comment
  • Nov. 11, 2015, 8:39 AM
    • Following BlackRock's (NYSE:BLK) move to cut the price of its iShares Core S&P Total U.S. Stock Market ETF (NYSEARCA:ITOT) to just three basis points - below that of Vanguard's Total Stock Market ETF (NYSEARCA:VTI) at five bps and Schwab's (NYSE:SCHW) U.S. Large-Cap ETF (NYSEARCA:SCHX) at four bps - Schwab says it will trim SCHX's expense ratio by one basis point to match the iShares cost (timing uncertain).
    • Schwab spokesman Greg Gable says the company will also consider a cut in the U.S. Broad Market ETF (NYSEARCA:SCHB), which is currently at four basis points.
    • Previously: ETF price wars: BlackRock slashes prices on Core iShares products (Nov. 10)
    | Nov. 11, 2015, 8:39 AM | 7 Comments
  • Nov. 9, 2015, 10:57 AM
    • U.S.-listed ETFs and ETPs have brought in a record $174.8B in net new assets this year as of the end of October (beating the previous record in 2013 by 12.4%), according to ETFGI. October's net inflows of $28.4B marked the ninth consecutive month of gains.
    • For ETFs and ETPs listed globally, net inflows through the end of October of $287.3B are up 22.3% over the same period in 2014.
    • Year-to-date, BlackRock's (NYSE:BLK) iShares had the most net inflows with $72.3B, followed by Vanguard at $60B, and WisdomTree (NASDAQ:WETF) at $19.4B. Schwab (NYSE:SCHW) ETFs brought in $11B.
    • In October, iShares also led the way, with Vanguard second. In third place were SPDR (NYSE:STT) ETFs, and in fourth Invesco's (NYSE:IVZ) PowerShares.
    | Nov. 9, 2015, 10:57 AM
Company Description
Charles Schwab Corp is a savings and loan holding company, which through its subsidiaries is engaged in securities brokerage, banking and related financial services. It operates in two segments namely Investor Services and Advisor Services.