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Stock Market & Financial Investment News

News Breaks
July 1, 2014
12:33 EDTIBKRInteractive Brokers reported June DARTs down 7% from last year
Interactive Brokers reported its Electronic Brokerage monthly performance metrics for June. The brokerage had 495K Daily Average Revenue Trades, or DARTs, which was 7% lower than prior year and 4% lower than prior month. Ending customer equity of $53.9B was 44% higher than prior year and 6% higher than prior month. Its 262K customer accounts was 17% higher than prior year and 1% higher than prior month.
News For IBKR From The Last 14 Days
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January 23, 2015
12:00 EDTIBKRE-Trade rallies after Q4 results beat estimates, capital plan approved
Shares of online broker E-Trade Financial (ETFC) are rising after the company’s fourth quarter results surpassed analysts’ consensus estimates and announced it has received regulatory approval realign its organizational structure. WHAT'S NEW: Last night, E-Trade reported Q4 adjusted earnings per share of 26c and revenue of $461M, topping analysts' consensus estimates of 23c and $445.11M, respectively. Quarterly results excluded a $59M pre-tax loss on early extinguishment of corporate debt. For the quarter, Daily Average Revenue Trades, or DARTs, were 168,000, an increase of 10% from the third quarter. The company ended Q4 with 3.1 million brokerage accounts, an increase of 17,000 from the end of Q3, and brokerage account attrition for Q4 was 9.1%. E-Trade said that the company added $3.5B in net new brokerage assets in Q4, or an annualized growth rate of 5.8%. The company also ended the quarter with $290B in total customer assets, compared with $282B at the end of Q3. Provision for loan losses was $10M in Q4, unchanged from Q3, while net-charge offs were $7M, comapred with $10M in Q3. The company reported bank and consolidated Tier 1 leverage ratios of 10.6% and 8.1%, respectively, as of December 31, compared with 10.4% and 7.7% in the prior quarter. WHAT’S NOTABLE: E-Trade announced that it has received regulatory approval to operate E*TRADE Bank at a Tier 1 leverage ratio of 9%, and realign its organizational structure by moving its two broker-dealers-- E*Trade Securities and E*Trade Clearing -- from under E*Trade Bank, which it says will simplify the distribution of capital generated by those entities to the parent company. E*Trade Securities will be moved in early February, while the move of E*Trade Clearing is expected to be completed later in the year. The approval to move these subsidiaries allows the company to distribute approximately $430M of their excess capital to the parent, the company added. Separately, the company announced on its earnings conference call that Chief Marketing Officer Liza Landsman will leave the company to pursue other opportunities. ANALYST REACTION: This morning, Credit Suisse upgraded E-Trade to Outperform from Neutral. The firm believes E-Trade is on the path to unlock substantial value and views the company's regulatory approval to separate its broker dealer unit and release excess capital from the bank subsidiary is a "turning point" for value creation. The firm raised its price target on the shares to $28 from $24. Another firm, JMP Securities, said E-Trade achieved a "crucial milestone." After E-Trade announced that it had received approval to move forward on its capital plan, freeing up significant excess capital, JMP Securities believes that this development could add 50c-$1.00+ to the company's EPS. The firm kept a $28 price target and Outperform rating on the shares. PRICE ACTION: In late morning trading, E-Trade rose $2.05, or about 9.05%, to $24.70 on approximately twice its average daily trading volume. Including today’s advance, the stock has gained approximately 17% over the past twelve months. OTHERS TO WATCH: Other online brokers include Charles Schwab (SCHW) down 1.12%, TD Ameritrade (AMTD), down 0.4%, and Interactive Brokers (IBKR), up 1.34%.
January 21, 2015
06:27 EDTIBKRInteractive Brokers CEO doesn't see recouping losses from franc trades, WSJ says
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January 20, 2015
18:30 EDTIBKROn The Fly: After Hours Movers
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16:06 EDTIBKRInteractive Brokers reports Q4 EPS 12c, consensus 6c
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15:21 EDTIBKRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.

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