TD Ameritrade reports Q2 EPS 35c, consensus 34c Reports Q2 revenue $812M, consensus $799.80M. Reports Q2 net new client assets $12.2B, an annualized growth rate of 8%. Reports Q2 average client trades 492K per day. Reports Q2 pre-tax income of $317M, or 39% of net revenues. Reports Q2 investment product fee revenues of $75M, up 21% year-over-year.
TD Ameritrade downgraded to Neutral from Buy at Citigroup Citigroup downgraded TD Ameritrade to Neutral after lowering its estimates to reflect the company's leverage to the flattening of rates. It dropped its price target for shares to $39 from $40.