Charles Schwab stock down after downbeat revenue outlook
Shares of Charles Schwab Corp.
dropped 3.0% in premarket trading Tuesday, after the discount broker provided a downbeat third-quarter revenue outlook. Schwab said the sharp reduction in long-term rates has led to an acceleration of prepayment activity in the mortgage-backed securities held within its investment portfolio, which is impacting net interest margin, and leading to third-quarter revenue that is running"slightly lower" than second-quarter results.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market outlook: Goldman Sachs boosts 3-month forecast to 'overweight' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Vinyl record sales outpace CDs for the first time since the '80s amid the pandemicAmerican music listeners bought more vinyl records than CDs during the period marked by retail store closures and tour cancellations.
Read more »
Oracle Corp.ORCL | Complete Oracle Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
Australia's Macquarie warns of 35% drop in first-half earnings on virus hit, shares dropAustralian investment bank Macquarie Group said on Monday it expects first-half earnings to be about 35% lower, citing challenging market conditions due to the coronavirus pandemic and uncertainties about the global economic recovery.
Read more »
Princess Diana's brother Charles Spencer shows off stunning peacock display at Althorp HousePrincess Diana's brother Charles Spencer is custodian of Althorp House
Read more »
A top market expert says stocks won't suffer any 'significant' drops from here as 'strong secular growth story' carries on | Markets InsiderBloomberg TV Seema Shah of Principal Global Investors said she doesn't expect any 'significant' drops in the market from here as a secular gro...
Read more »