TradeStation Group Inc. (TRAD)
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Three Cheap 'Transactional' Brokerage Firms [view article]
Interactive Brokers [IBKR] blew right through all estimates in its March quarter with EPS of $0.66 v. $0.31 in 2007.The shares are now north of $30. Reply
Three Cheap 'Transactional' Brokerage Firms [view article]
TradeStation earnings up on busier tradingSouth Florida Business JournalPrint Article Email Article Reprints RSS Feeds ShareThis
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TradeStation earnings up on trades [South Florida]
Early earnings results still positive, despite housing downturn [South Florida]
TradeStation Q3 earnings up 24% [South Florida]
TradeStation Group said its earnings rose 1 percent in the first quarter, as market volatility pushed customers to trade.
The Plantation-based electronic trading platform said it earned $8.3 million, or 19 cents a share, on revenue of $40.7 million. In the prior-year quarter, the company said it earned $8.2 million, or 18 cents a share, on revenue of $35.3 million.
TradeStation (NASDAQ: TRAD) said its brokerage fees and trading commissions jumped 37 percent, driven by heavier trading volume.
The company said its clients made an average of 109,219 trades a day in the first quarter, up 56 percent. Client accounts grew 17 percent, to 38,657.
Shares closed up 7 cents to $9.27. The 52-week high was $14.87 on Dec. 24. The 52-week low was $8.11 on March 31.
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Three Cheap 'Transactional' Brokerage Firms [view article]
optionsXpress Announces First Quarter 2008 ResultsTuesday April 22, 8:00 am ET
CHICAGO--(BUSINESS WIRE)--optionsXpress Holdings, Inc. (NasdaqGS: OXPS - News) today reported results for the three months ended March 31, 2008. Highlights from the first quarter of 2008 included:
Revenues of $60.8 million, an 11% increase year-over-year
Net income of $23.8 million, or $0.38 per diluted share
Daily average revenue trades (DARTs) of 38,000, a 24% increase year-over-year
Net new account growth of 14,700 during the quarter, resulting in 277,100 customer accounts, a 24% increase year-over-year
Industry-leading 62% pre-tax margins
$5.4 billion in customer assets on March 31, 2008, a 9% increase year-over-year
Interactive Brokers (IBKR):
4:00pm 04/24/2008
IBKR ($27.87, +0.39, +1.4%) said first-quarter net income came in at $27.2 million, or 66 cents a share, more than double the same period a year ago.
Net revenues were $528.4 million, up from $330.8 million in the same period.
Interactive Brokers was expected to make 50 cents a share, according to three analysts in a Thomson Financial survey.
Shares gained 6.75% after hours.
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Editors
General Discussion on TRAD
Is this a buy or a sell? ReplyThree Cheap 'Transactional' Brokerage Firms [view article]
All market makers take some risk of holding positions that can go against them. In the same way, though, they will sometimes make money by being forced to hold positions that work out well.Over time, the specialist tends to do well as they are forced to buy when others panic sell and forced to short into rabid enthusiasm. Both those actions usually end up being the right side of the trade. Reply
Three Cheap 'Transactional' Brokerage Firms [view article]
Paul - Do you think there is any chance at all of IBKR getting caught on the wrong side of some market making? For example, if they were making a market in BSC 30 puts when the stock was at 60, and two days later it was at 2, and IBKR ended up being short those puts? That could have cost them millions if something like that were to happen. I think the stock is down from 33 because there are fears they could go bankrupt due to some bad market making and getting caught on the wrong side of a market during volatile times. The commission side of their option business is just fine, it's the market making I'm worried about. ReplyThree Cheap 'Transactional' Brokerage Firms [view article]
Sorry, the correct cash for TradeStation is $92 MM. My bad. ReplyThree Cheap 'Transactional' Brokerage Firms [view article]
The cash figure is right off their latest Value Line report. It is correct.The target is based on per share earnings. All shareholders have the same claim on profits regardless of how much stock is in public hands. Reply
Three Cheap 'Transactional' Brokerage Firms [view article]
Does your analysis of IBKR take into account the fact that the shareholders only own 10% of the brokerage company? Shouldn't your price target actually be $3.53, not $35.34 - assuming your analysis is valid at all? ReplyThree Cheap 'Transactional' Brokerage Firms [view article]
TRAD does not have $600MM in cash on hand. They're total mkt cap is under $400MM. Someone didn't check their stats. That cash may represent some reserves on hand RE: the brokerage business. ALSO, the CFO says their income declines 12 cents for every full rate point cut by the fed. After the recent cuts, analysts are forecasting flat earnings relative to 2007. ReplyOnline Brokerage Companies Report Strong Customer Additions in 2007 [view article]
I have been using Scottrade, and been very sucessful. Excellent platform, $7 trades, you can't beat that. Jared should just sell to Schwab, period. ReplyOnline Brokerage Companies Report Strong Customer Additions in 2007 [view article]
Schwab should buy E*TRADE, they have the same business model, Schwab tried in the past to have Financial centers, but E*TRADE was more sucessful. Schwab could buy them with cash, because of current market price. E*TRADE was in the works to buy TD Waterhouse in the past, but chickened out. Ameritrade was a better merger anyways. Sorry Jared you were a pretty good CEO in the past, but you left, and now look what happened. E*TRADE is circling the drain. After buying Deucthe's Marine and RV financing, and selling to GE, and E*TRADE Mortgage was a failure, you got nothing to offer the general consumer. Schwab step up and take your percentage of the market back from these kids. ReplyClark
Online Brokerage Companies Report Strong Customer Additions in 2007 [view article]
Etrade has all the bases covered. Just so happen the sub prime was the bad one. ReplyClark
Online Brokerage Companies Report Strong Customer Additions in 2007 [view article]
Etrade is taking a bad rap on most of this. Statements that are nothing more than rumors made up by their rivals are at the very least reckless........always remember what goes around comes around. You go etrade. You have alot to look forward to. ReplyOnline Brokerage Companies Report Strong Customer Additions in 2007 [view article]
I'm sticking with Etrade (as a customer) for now. I don't know whether that's stupid or not, but the site works and the trades are cheap and it's a hastle to change. My assets are Govt. insured (at least in theory) and perhaps if the next quarterly sucks, BAC or somebody will simply buy them out. Reply