Schwab Pops on 2014 Revenue Estimate and 2 Other Hot Stocks to Watch
The Charles Schwab Corp. (NYSE:SCHW): Current price $23.48
On Tuesday, Schwab said that it expects revenue to grow between 3 to 5 percent more rapidly than expenses next year, reversing a higher-than-expected rise in costs in the first half. The retail brokerage firm made the projection as it reported that its third-quarter profit rose by 17 percent year-over-year to $290 million, while revenue jumped by 15 percent to its highest figure in 13 years. In the third quarter, earnings per share came to 22 cents, surpassing analysts’ consensus estimate of 20 cents, said Thomson Reuters I/B/E/S. Shares are up by more than 7 percent Tuesday in heavy trading.