|Bid||51.06 x 3200|
|Ask||51.25 x 3000|
|Day's Range||51.04 - 52.20|
|52 Week Range||32.69 - 57.88|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||12.91|
|Earnings Date||Jan. 20, 2020 - Jan. 24, 2020|
|Forward Dividend & Yield||1.24 (2.44%)|
|1y Target Est||47.18|
NEW YORK, NY / ACCESSWIRE / DECEMBER 5, 2019 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...
NEW YORK, Dec. 04, 2019 -- Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: TD Ameritrade Holding Corporation (NASDAQ:.
NEWTON SQUARE, PA / ACCESSWIRE / December 3, 2019 / Kaskela Law LLC is investigating TD Ameritrade Holding Corporation ("TD Ameritrade" or the "Company") (Nasdaq:AMTD) on behalf of ...
BALA CYNWYD, PA / ACCESSWIRE / December 2, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of TD Ameritrade Holding Corporation ...
(Bloomberg Opinion) -- Talk about timing: Masters in Business sat down with Joe Ricketts, founder of TD Ameritrade Holding Corp., on Nov. 12 and 10 days later Charles Schwab Corp. offered to buy TD for $26 billion (Ricketts still owns more than 8% of the company).TD Ameritrade has its roots in First Omaha Securities, a Midwest retail brokerage firm that Ricketts started in 1975. First Omaha introduced a series of technological firsts that helped drive its rise: It was the first to advertise a toll-free telephone service for investors to call and place buy and sell orders, and it was the first to provide price quotes and accept orders via touch-tone phone. Not so novel today, but big innovations more than 30 years ago. In 1995, the company became the first brokerage firm to handle online trading over the internet.In an attempt to cut through the clutter, Ricketts tried to use humor to reach potential clients. Ameritrade became famous for its slack stick dot-com-era TV advertising. The best known was the “Let’s Light This Candle” ad, featuring Stuart the office boy as the main character. It became a viral meme before such things even existed. First Omaha bought lots of other regional brokers, eventually going public in 1997 and later merging with TD Waterhouse in 2006. Now it's TD that's being bought.Ricketts is the author of "The Harder You Work, the Luckier You Get: An Entrepreneur’s Memoir." His family trust has owned the Chicago Cubs since 2009; the team won the World Series in 2016, its first championship in 108 years. His favorite books are here; a transcript of our conversation can found here.You can stream/download the full conversation, including the podcast extras on Apple iTunes, Overcast, Spotify, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Next week, we speak with Ben Horowitz, founding partner of famed venture capital firm Andreessen Horowitz, and author of "What You Do Is Who You Are: How to Create Your Business Culture."To contact the author of this story: Barry Ritholtz at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
WILMINGTON, DE / ACCESSWIRE / December 2, 2019 / Andrews & Springer LLC , a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential securities ...
WILMINGTON, Del., Nov. 29, 2019 -- Rigrodsky & Long, P.A. announces that it is investigating: TD Ameritrade Holding Corporation (NASDAQ GS: AMTD) regarding possible.
NEW YORK, NY / ACCESSWIRE / November 27, 2019 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Tiffany & Co. (NYSE:TIF) The investigation concerns ...
Moody's affirms the ratings of Schwab (SCHW) and TD Ameritrade (AMTD), following the announcement of the all-stock deal between the two.
NEW YORK, NY / ACCESSWIRE / November 26, 2019 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Tiffany & Co. (NYSE:TIF) The investigation concerns ...
Schwab's (SCHW) deal to buy TD Ameritrade (AMTD) is likely to be accretive to earnings and lead to cost synergies. It is expected to pave way for more consolidations in the online brokerage space.
(Bloomberg) -- A buyout frenzy is taking hold of boardrooms from Tokyo to San Francisco, and it’s adding fuel to a record-breaking rally across the world’s major stock markets.More than $70 billion of deals has already been announced this week, with Charles Schwab Corp.’s $26 billion buyout of discount brokerage TD Ameritrade Holding Corp. leading the pack. Luxury goods giant LVMH, Swiss drugmaker Novartis AG and Japanese conglomerate Mitsubishi Corp. are among a slew of companies which have also announced multibillion-dollar transactions.For investors, the sudden burst of activity is being seen as a vote of confidence in the outlook as recession fears ebb and the U.S. and China edge toward a trade deal. The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index all closed Monday at records, and the MSCI World Index of developed-market stocks was trading at an all-time high on Tuesday.“The recent M&A explosion reflects an undeniable economic optimism,” said Brock Silvers, managing director at Adamas Asset Management in Hong Kong. “The U.S. enjoys both low inflation and unemployment, while the Fed looks dovish, and trade talks are rumored to be nearing an initial success. Investment capital is plentiful and cheap.”That cheap cost of funding is the common denominator across the deals, which have motives ranging from industry consolidation to diversifying into new markets. Policy makers across the world have been cutting interest rates in a bid to shore up economic growth, and the Federal Reserve and European Central Bank have even been forced to expand their balance sheets.Given the low cost of borrowing, it’s surprising there hasn’t been even more merger and acquisition activity, according to Rhett Kessler, senior fund manager at Sydney-based Pengana Capital Group Ltd., which oversees about A$3 billion ($2 billion).For all the optimism spurred by the flurry of dealmaking, there are reasons for caution. Merger and acquisition activity typically tends to peak along with the business cycle, meaning some market participants will read this as a late-cycle signal. Meanwhile deals like Schwab’s purchase of TD Ameritrade are symptoms of structural industry changes, rather than the health of the economy.Investor exuberance beyond the U.S. appears more measured. While the Stoxx Europe 600 is at about the highest since May 2015 and Japan’s Topix Index touched the strongest level this year on Tuesday, both lag the performance of the S&P 500 in 2019.There were at least 10 deal announcements worth $1 billion or more on Monday, according to data compiled by Bloomberg. Here’s a rundown of the key details:Industry ConsolidationCharles Schwab, the San Francisco-based brokerage, announced it would acquire TD Ameritrade, amid a collapse in investing costs as providers embrace $0 feesCanada’s Kirkland Lake Gold Ltd. announced a C$4.9 billion ($3.7 billion) all-share agreement to buy Detour Gold Corp.EBay Inc. is selling its ticket marketplace StubHub to European rival Viagogo for $4.05 billion in cashBranching OutLVMH, the luxury giant that already sells everything from Louis Vuitton bags to Dom Perignon champagne, is adding the 182-year-old U.S. jeweler Tiffany & Co., known for its robin’s egg blue boxesNovartis AG agreed to buy Medicines Co. and its promising heart drug for $9.7 billion, the latest move in the Swiss drugmaker’s push to amass novel treatments for complex conditionsCanadian convenience-store giant Alimentation Couche-Tard Inc. offered A$8.6 billion ($5.8 billion) for fuel retailer Caltex Australia Ltd., sweetening its bid for about 2,000 sites as it seeks to broaden a global expansionJapan Goes AbroadAsahi Kasei is buying Veloxis Pharmaceuticals for $1.3 billion, the latest of a series of deals by Japanese drugmakersMitsubishi Corp. and Chubu Electric Power Co. are expected to buy Eneco of the Netherlands after being selected as the preferred bidders. The deal may help Japan shift toward renewables\--With assistance from Michael Hytha, Fion Li and Samuel Potter.To contact the reporters on this story: Christopher Anstey in Tokyo at email@example.com;Angus Whitley in Sydney at firstname.lastname@example.org;Jinshan Hong in Hong Kong at email@example.comTo contact the editors responsible for this story: Christopher Anstey at firstname.lastname@example.org, Tom Redmond, Michael PattersonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TD Ameritrade Holding (NASDAQ:AMTD) shares have had a really impressive month, gaining 34%, after some slippage. The...
(Bloomberg) -- For decades, Charles Schwab Corp. quietly plotted to unleash its ultimate weapon against rivals: $0 fees.Schwab considered eliminating charges in the 1990s after the advent of online trading, and again in the 2000s during the financial crisis, according to a person with knowledge of the matter. Each time, it dismissed the idea as too risky -- a danger to its own bottom line.But with investing costs collapsing across Wall Street, the San Francisco-based firm finally took the leap in October -- and, in a matter of weeks, it drove a major rival into its arms.On Monday, days after reports of a possible acquisition first surfaced, Schwab formally announced that it would acquire TD Ameritrade Holding Corp. in an all-stock deal valued at roughly $26 billion.The deal caps a year of off-again-on-again negotiations and cements Schwab’s position in the industry it pioneered a half-century ago.For TD Ameritrade, one of Schwab’s keenest rivals, the tie-up is an acknowledgment of a stark, new reality: One of finance’s most basic businesses, stock trading, has become so mundane that brokers are giving it away for free.Schwab played its hand deftly. First, it sent shockwaves through its industry -- and sent TD Ameritrade stock into a tailspin -- by abruptly announcing last month that it would allow customers to trade stocks and exchange-traded funds for free. Then, it reentered talks that culminated in Monday’s announcement.Chief Executive Officer Walt Bettinger was blunt in early November, telling Schwab clients that discount brokers were headed for a shakeout. But as recently as last week, the company’s Chief Financial Officer, Peter Crawford, was holding his cards close in discussions with industry executives.“What a poker player,” Matt Witkos, head of global distribution at Eaton Vance Corp. in Boston, said of Crawford. “It was pretty shocking.”Falling CostsTradecraft aside, Schwab and TD Ameritrade are both responding to the tectonic shifts in their business. Price competition extends beyond commissions to investment products, too: Fidelity Investments is now charging nothing at all for a handful of its funds.Pressure has been intensifying: In the 1970s, Schwab charged about $70 for a stock trade. By the 1990s, the price had dropped to as little as $30, and in the mid-2000s it cost about $13. After Schwab’s move in October, it was free.The race to zero, after so many years of resistance, partly reflects a generational shift. While many baby boomers are accustomed to paying fees, younger people have come to expect free trading from a new crop of competitors such as Robinhood Financial.Schwab’s TD Ameritrade deal, expected to close in the second half of 2020, would create a formidable giant with $5 trillion in assets. The company would be so large that some analysts have said the deal might draw antitrust scrutiny.Bettinger, the CEO, flicked away those concerns on a call with analysts Monday.“We have numerous competitors, many of which are far larger than us today and far larger than a combined organization,” he said, naming Fidelity and Vanguard Group among the bigger challengers. “They’re going to continue to come right after us, as they are now in all aspects of the business.”Toronto-Dominion Bank, which owns 43% of TD Ameritrade, initially reached out to Schwab, people familiar with the matter said.Schwab’s eliminating of fees prompted TD Ameritrade and other rivals to follow suit. In the wake of the move, TD Bank again reached out to Schwab to restart the discussions, according to one of the people familiar with the matter.Representatives for TD Bank declined to comment.The marriage of Schwab and its smaller Midwest rival left independent advisers and competitor firms scrambling to decode how the combined company will transform the brokerage business, which has already undergone considerable upheaval in recent years.Schwab worked its way up the food chain by leaning into the “discount” part of the discount brokerage business, fueling more than a decade of expansion.The firm got its start in the 1970s by undercutting Wall Street firms that would charge hundreds of dollars per order. It thrived on comparatively low-cost trading into the 1990s, moving online to compete with upstarts including E*Trade Financial Corp.But Schwab lost its way in the early 2000s, charging more than competitors for trading and juggling disparate business lines. To reverse course, founder Charles Schwab returned to the helm and refocused on one thing: cheap fees. That decision to reconnect to the discount ethos helped it grow to its dominant position today.“The logic of Schwab has been -- will always be -- to reduce commissions,” said Robert Burgelman, professor of management at the Stanford Graduate School of Business, who’s followed Schwab for two decades and written case studies on the company.Schwab was able to kneecap its competitors last month with zero fees in part because it relies less on trading for income.Its other business lines include adviser services and its own low-cost investment products. And the firm earns most of its revenue from reinvesting customer cash through its bank division. When falling interest rates threatened that income stream, Schwab announced in September that it was cutting 3% of its staff or about 600 jobs.Monday’s announced deal puts additional heat on E*Trade, which was long thought to be a potential acquisition target for TD Ameritrade. After falling 9% on the day news of Schwab’s move broke, E*Trade’s shares rose more than 3% on Monday.“Frankly, if I’m on the E*Trade board I’m certainly feeling a sense of urgency to find a buyer,” said Thomas Bradley, former president of TD Ameritrade.An E*Trade spokesman didn’t respond to a request for comment outside normal business hours.Some advisers were on edge about the tie-up. Those who use Schwab to safeguard assets wonder if they’ll be able to maintain the same level of service, especially for smaller clients.“Less competition can lead to less negotiating power,” said Matt Cosgriff, a wealth management group leader at BerganKDV.Roger Ward, principal wealth adviser at TrueWealth Management in Atlanta, said that Schwab’s dominant position in the industry made Monday’s announcement almost inevitable.“When they change course it can take time,” he said of the 20,000-person company. “But when they get on the desired course, they are financially strong enough and culturally motivated enough to roll over smaller contributors like TD Ameritrade.”\--With assistance from Suzanne Woolley, Michael McDonald, Matt Turner and Doug Alexander.To contact the reporters on this story: Annie Massa in New York at email@example.com;Matthew Monks in New York at firstname.lastname@example.org;John Gittelsohn in Los Angeles at email@example.comTo contact the editors responsible for this story: Sam Mamudi at firstname.lastname@example.org, David GillenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / November 25, 2019 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: The Medicines Company (NASDAQ:MDCO) The investigation ...
Each of Wall Street's three major averages kicked off the trading week by closing at records on Monday as signs pointed to progress between the United States and China on a trade truce, while a round of merger deals also helped buoy sentiment. Gains on Monday were broad with only the defensive consumer staples and utilities S&P sectors in the red.
The S&P 500 and the Nasdaq indexes climbed to new record highs on Monday as signs indicated the United States and China were moving closer to a trade truce, while a host of merger deals also helped buoy sentiment. Gains on Monday were broad with only the defensive consumer staples and utilities S&P sectors in the red.
The S&P 500 and the Nasdaq indexes hit fresh record highs on Monday as a report that the United States and China were nearing a trade truce sparked a rally in Apple and semiconductor stocks, with sentiment also buoyed by a raft of blockbuster deals. Gains in trade-sensitive chip stocks, including Applied Materials Inc and Lam Research Corp, helped lift the Philadelphia Semiconductor index 2.28% after a Chinese state-backed tabloid said Beijing and Washington were "very close" to an initial pact.