Charles Schwab Struggles

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Charles Schwab Struggles

By Zacks Investment Research on February 14, 2009 | More Posts By Zacks Investment Research | Author's Website

Charles Schwab Corp. (SCHW) reported disapointing daily average revenue trade volumes for the month of January and also said its client assets fell during the period, sending shares down nearly 5%.

As the financial environment remains murky, the largest online brokerage firm in the country said its total client assets fell 21% to $1.104 trillion in January. Daily average trades fell 11% to 328,400 in the month.

While the San Francisco-based company’s stock fell 64 cents to $12.75 at noon on the NASDAQ, its closest rival TD Ameritrade Holding Corp. (AMTD) was trading down 2% at $12.72.

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