Barclays on U.S. Brokers: Weekly Capital Markets Conditions Update
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Price: $49.26 --0%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays on U.S. Brokers: Weekly Capital Markets Conditions Update
Barclays analyst, Roger A. Freeman, on E-BROKERS: "Along with the broader market, the e-broker industry shares have continued to decline fairly aggressively over recent months, negatively impacted on a fundamental basis by both the equity market slide and the rapid flattening of the yield curve and pressured by a "risk-off" trade driving down financial sector shares. To the extent the equity market indices stabilize and rise into year-end, on the back of better economic metrics putting recession concerns to rest, which is our equity portfolio strategy team's view, we would expect the e-broker industry shares to outperform, recouping the relative weakness over the past several months. We updated our EPS estimates for the e-broker sector, incorporating the recently robust trading volumes (including 20% decline in September), poor equity market performance and increasingly challenging interest rate environment (flattening curve), which has a bigger effect on our 2012E EPS than the 3Q."
Stocks of Note: E*TRADE (Nasdaq: ETFC), Ameritrade (Nasdaq: AMTD), and Schwab (Nasdaq: SCHW)
Barclays analyst, Roger A. Freeman, on E-BROKERS: "Along with the broader market, the e-broker industry shares have continued to decline fairly aggressively over recent months, negatively impacted on a fundamental basis by both the equity market slide and the rapid flattening of the yield curve and pressured by a "risk-off" trade driving down financial sector shares. To the extent the equity market indices stabilize and rise into year-end, on the back of better economic metrics putting recession concerns to rest, which is our equity portfolio strategy team's view, we would expect the e-broker industry shares to outperform, recouping the relative weakness over the past several months. We updated our EPS estimates for the e-broker sector, incorporating the recently robust trading volumes (including 20% decline in September), poor equity market performance and increasingly challenging interest rate environment (flattening curve), which has a bigger effect on our 2012E EPS than the 3Q."
Stocks of Note: E*TRADE (Nasdaq: ETFC), Ameritrade (Nasdaq: AMTD), and Schwab (Nasdaq: SCHW)
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