Charles Schwab ( (SCHW) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Charles Schwab Corp. stock surged following the release of its impressive Q4 earnings report. The company’s adjusted earnings per share of $1.01 surpassed Wall Street’s estimate of 91 cents, representing a substantial 49% increase from the previous year. Revenue also exceeded expectations, reaching $5.329 billion, thanks to a rise in client assets and new brokerage accounts. The CEO credited this success to effective asset gathering and the integration of Ameritrade. As a result, SCHW stock increased by 5.18% in pre-market trading, and analysts may soon revise their ratings and price targets in response to these strong earnings.
More about Charles Schwab
YTD Price Performance: 3.48%
Average Trading Volume: 7,705,649
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $139.9B
For further insights into SCHW stock on TipRanks’ Stock Analysis page.
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