-2.59% to $89.58 from $91.96
What moved SCHW
- Net revenue rose 17% year over year to a record $7.2 billion for the quarter, per the company’s SEC filing.
- Adjusted (non-GAAP) EPS came in at $1.69, up 29% from a year earlier and about 3 cents above the roughly $1.66 analyst consensus.
- Revenue missed consensus by about $10 million, and shares fell 3.3% in premarket trading on the shortfall.
- Net new core assets totaled $190.4 billion, up 38% year over year, pushing total client assets to a record $13.33 trillion, up 15%.
Sources: SEC filing (8-K) · company earnings summary
-6.11% to $100.35 from $106.88
What moved SCHW
- Charles Schwab shares declined as investors continued to reassess the company’s rate-sensitive earnings profile following the Federal Reserve’s September 16 decision to raise its benchmark rate by 25 basis points to 3.75%-4.00%, its first hike since 2023.
- Fed Chair Kevin Warsh signaled at least one additional rate increase this year, adding to concerns about slower loan demand, higher borrowing costs and softer capital-markets activity for rate-sensitive financials.
- Schwab has told investors that a 25-basis-point move in the federal funds rate can shift its annualized net interest revenue by roughly $250 million to $300 million.
- The decline came alongside broader weakness among rate-sensitive financial names including WEX, Raymond James and Sallie Mae.
Sources: Quiverquant · Charles Schwab · Investing.com · StockStory