SCHW
The Charles Schwab CorporationNYSE
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  • Fri, Nov. 18, 12:27 PM
    • The rumor that Schwab (NYSE:SCHW) has interest "comes as a bit of a shock," says Nomura's Steve Chubak, calling deal hurdles for public acquirers "insurmountable," and believing a P/E rollup to be the more likely outcome.
    • What could make a Schwab buy somewhat more likely, he admits, is the idea that the DOL fiduciary rule could be softened under a Trump administration/GOP Congress.
    • Other headwinds might also abate, as LPL Financial (NASDAQ:LPLA) would be one the largest beneficiaries of higher interest rates.
    • Chubak and team's analysis sees roughly 11% accretion potential should Schwab buy, "however, the uncertainty around the realization and timing of these benefits suggests that attractive deal economics are far from certain and that takeout consideration by SCHW seems remote."
    • Previously: Citi's Katz plays down chance of Schwab buying LPL Financial (Nov. 17)
    | Fri, Nov. 18, 12:27 PM
  • Thu, Nov. 17, 2:34 PM
    • William Katz sees a very low likelihood of Schwab (SCHW +0.7%) buying LPL Financial (LPLA +3.4%), noting management has promised to use capital for bank sweep migration and bolt-on acquisitions, rather than transformative deals.
    • Katz, however, doesn't discount the possibility of another party gunning for LPL.
    • Previously: LPL Financial higher on Schwab interest (Nov. 17)
    | Thu, Nov. 17, 2:34 PM
  • Thu, Nov. 17, 7:56 AM
    | Thu, Nov. 17, 7:56 AM
  • Fri, Sep. 30, 8:33 AM
    • TD Ameritrade (NASDAQ:AMTD) had a big move yesterday after Bloomberg reported Scottrade has put itself on the block, with Ameritrade as a possible suitor.
    • Don't forget possible interest from Schwab (NYSE:SCHW) and E*Trade (NASDAQ:ETFC), says Wells Fargo, which believes a deal would be accretive by double-digit levels.
    • That said, Ameritrade could be the most logical buyer, given that E*Trade just closed on a purchase (OptionsHouse) and Schwab has sought to place less emphasis on trading.
    • Wells keeps its Outperform rating on E*Trade and Market Perform ratings on Schwab and Ameritrade.
    | Fri, Sep. 30, 8:33 AM | 16 Comments
  • Oct. 15, 2012, 9:43 AM

    Charles Schwab (SCHW) agrees to purchase money manager ThomasPartners for $85M in upfront cash plus additional consideration contingent on growth in AUM (currently at $2.3B). Schwab expects the acquisition to be accretive to EPS after year 1. (PR) (earnings)

    | Oct. 15, 2012, 9:43 AM
  • Oct. 31, 2011, 1:00 PM

    Charles Schwab (SCHW) is reportedly mulling a bid for MF Global's (MF) retail futures segment. MF would also like to offload its institutional clearing business, but that may prove challenging given that most institutional asset managers have already moved their business elsewhere.

    | Oct. 31, 2011, 1:00 PM