Retail Investors' Bullish Sentiment Fuels Rally In Brokerage Stocks: Standout Performers Of Q2 Earnings Season
Portfolio Pulse from Piero Cingari
Major US brokerage firms are experiencing a favorable market momentum due to a rally in US stocks and strong risk appetite among small investors. The iShares U.S. Broker-Dealer & Securities Exchange ETF (IAI) rose 3.6% on Tuesday. Charles Schwab Corp. (SCHW), Morgan Stanley's E*TRADE (MS), and Interactive Brokers Group, Inc. (IBKR) reported Q2 earnings with SCHW and MS beating expectations while IBKR missed. Raymond James Financial, Inc. (RJF), LPL Financial Holdings Inc. (LPLA), Tradeweb Markets Inc. (TW), and Robinhood Markets, Inc. (HOOD) are yet to report their Q2 earnings.
July 19, 2023 | 6:09 pm
News sentiment analysis
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POSITIVE IMPACT
The iShares U.S. Broker-Dealer & Securities Exchange ETF (IAI) rose 3.6% on Tuesday.
The bullish sentiment among retail investors is driving the rally in brokerage stocks, which is beneficial for IAI as it tracks financial stocks involved in broker-dealing and securities exchanges.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley's E*TRADE (MS) reported Q2 earnings of $1.24 per share and revenues of $13.5 billion, both outperforming estimates. Shares rose 8% after Q2 results.
Morgan Stanley's E*TRADE outperformed Q2 earnings and revenue estimates, leading to an increase in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Charles Schwab Corp. (SCHW) reported Q2 earnings per share of $0.75, beating expectations by 6%, with quarterly revenues at $4.66 billion, exceeding the expected $4.1 billion. Shares surged 15% after Q2 results.
Charles Schwab's better-than-expected Q2 earnings and revenue results have led to a surge in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Robinhood Markets, Inc. (HOOD) is yet to report their Q2 earnings.
Robinhood Markets has not yet reported their Q2 earnings, so it's uncertain how this will impact their stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
LPL Financial Holdings Inc. (LPLA) is yet to report their Q2 earnings.
LPL Financial Holdings has not yet reported their Q2 earnings, so it's uncertain how this will impact their stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Raymond James Financial, Inc. (RJF) is yet to report their Q2 earnings.
Raymond James Financial has not yet reported their Q2 earnings, so it's uncertain how this will impact their stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Tradeweb Markets Inc. (TW) is yet to report their Q2 earnings.
Tradeweb Markets has not yet reported their Q2 earnings, so it's uncertain how this will impact their stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Interactive Brokers Group, Inc. (IBKR) missed both profits and revenues expectations in Q2, reporting EPS of $1.32 and revenues of $1 billion. Shares fell 1.5% after Q2 results.
Interactive Brokers Group's missed Q2 earnings and revenue expectations have led to a decrease in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100