July 23, 2008 |
Charles R. Schwab grabbed back the helm of his foundering discount brokerage in 2004 and vowed to put the company back on course. Schwab now must be feeling comfortable enough to try handing off control again: San Francisco-based Charles Schwab Corp. on Tuesday said its board had elected Walter W. Bettinger II as chief executive, succeeding the namesake. Bettinger, 47, has been the heir apparent since he was named president and chief operating officer in February 2007. He will take over Oct. 1.
July 18, 2007 |
Charles Schwab Corp. said Tuesday that its second-quarter profit increased 16% as its "Talk to Chuck" ads and rising stock prices helped drive the discount brokerage's fastest growth in customer accounts in five years. Net income climbed to $292 million, or 23 cents a share, from $251 million, or 19 cents, a year earlier. Revenue rose 10% to $1.21 billion.
July 3, 2007 |
Enriched from the sale of its wealth-management subsidiary, Charles Schwab Corp. said Monday that it would distribute $3.5 billion to its stockholders by buying back stock and paying a one-time dividend. Schwab shares jumped $1.48, or 7.2%, to $22 on the news. The San Francisco-based discount stockbrokerage plans to pay as much as $22.50 a share for its own stock -- 10% above last week's closing price. The buyback price is to be set through an auction that guarantees those who sell at least $19.
April 18, 2007 |
Charles Schwab Corp. posted its eighth consecutive quarter of double-digit earnings growth as an influx of customer deposits during the first three months of the year helped the discount broker shake off turbulent market conditions. The San Francisco-based company said Tuesday that it earned $273 million, or 22 cents a share, during the first quarter. That was up 12% from net income of $243 million, or 19 cents a share, at the same time last year.
January 26, 2007 |
Coming off the most profitable year in the stock brokerage's history, Charles Schwab Corp. is losing its chief financial officer, Christopher Dodds, to early retirement in May. Dodds' decision, announced Thursday, comes as a surprise because he is only 47 years old. Investors have been more concerned about the retirement plans of the San Francisco-based company's founder and chief executive, Charles Schwab.
January 18, 2007 |
Charles Schwab Corp.'s fourth-quarter earnings more than doubled to lift the stock brokerage's annual profit above $1 billion for the first time in its history. The San Francisco-based company said Wednesday that it earned $467 million, or 37 cents a share, during the final three months of 2006. That compared with net income of $187 million, or 14 cents, a year earlier. Revenue for the period totaled $1.1 billion, a 14% increase from $964 million in the prior year.