Charles Schwab (NYSE:SCHW) Stock, Quote.Headers.trade-ideas

Charles Schwab

Charles Schwab operates in brokerage, wealth management, banking, and asset management. It runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website, and it has mobile trading capabilities. It also operates a bank and a proprietary asset-management business and offers services to independent investment advisors. Schwab is among the largest firms in the investment business, with over $8 trillion of client assets at the end of December 2023. Nearly all of its revenue is from the United States.

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Charles Schwab shares are trading higher by 1.7% during Friday&#39;s session. The stock is up amid strength in the financial sector following a series of strong third-quarter earnings reports from major institutions.

Why Charles Schwab (SCHW) Stock Is Rising

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Charles Schwab Corporation (The) Common Stock

Charles Schwab Corp

CHARLES SCHWAB ORD

The Charles Schwab Corporation Depositary Shares each representing 1/40th interest in a share of 5.95% Non-Cumulative Perpetual Preferred Stock, Series D

The Charles Schwab Corporation Depositary Shares, Each Representing a 1/40th Interest in a Share of 4.450% Non-Cumulative Perpetual Preferred Stock, Series J

SCHWAB EMERGING MARKETS EQUITY ETF

Schwab 1-5 Year Corporate Bond ETF

Schwab 1000 Index ETF

Schwab 5-10 Year Corporate Bond ETF

Schwab Emerging Markets Equity ETF

Schwab Fundamental Emerging Markets Equity ETF

Schwab Fundamental International Equity ETF

Schwab Fundamental International Small Equity ETF

Schwab Fundamental U.S. Broad Market ETF

Schwab Fundamental U.S. Large Company ETF

Schwab Fundamental U.S. Small Company ETF

Schwab Intermediate-Term U.S. Treasury ETF

Schwab International Dividend Equity ETF

Schwab International Equity ETF

Schwab International Small-Cap Equity ETF

Schwab Long-Term U.S. Treasury ETF

Schwab Short-Term U.S. Treasury ETF

Schwab Strategic Trust Schwab Ariel ESG ETF

Schwab Strategic Trust Schwab Crypto Thematic ETF

Schwab Strategic Trust Schwab High Yield Bond ETF

Schwab Strategic Trust Schwab Municipal Bond ETF

Schwab Strategic Trust Schwab Ultra-Short Income ETF

Schwab U.S. Broad Market ETF

Schwab U.S. Large-Cap ETF

Schwab U.S. Large-Cap Growth ETF

Schwab U.S. Large-Cap Value ETF

Schwab U.S. Mid Cap ETF

Schwab U.S. REIT ETF

Schwab U.S. Small-Cap ETF

Schwab U.S. TIPs ETF

Schwab US Aggregate Bond ETF

Schwab US Dividend Equity ETF

SCHWEITER TECHS AG HORGEN by Schweiter Technologies AG Horgen

Schweiter Technologies AG

SCHWEIZERISCHE NATLBANK by Schweizerische Nationalbank

Schweizerische Nationalbank

Charles Schwab Corporation Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading higher by 1.48% to $67.64 during Friday&#8217;s session amid strength in the <a href="https://www.benzinga.com/news/earnings/24/10/41293190/us-banks-top-q3-earnings-estimates-jpmorgan-delivers-robust-beat-financial-sector-stocks-hit-record">U.S. financial sector</a> following a series of strong third-quarter earnings reports from major institutions, including JPMorgan Chase, Wells Fargo and BlackRock.
These financial heavyweights surpassed earnings expectations, which lifted the entire sector and sparked a rally in peer financial firms like Charles Schwab.
What&#8217;s Going On: The Financial Select Sector SPDR Fund (XLF) jumped nearly 2%, hitting record highs and setting the stage for a broad-based rally across financial stocks. This momentum has had a direct impact on Schwab, with investors betting that the brokerage giant will deliver strong earnings, driven by rising interest income and solid client activity.
As a leading brokerage and wealth management firm, Charles Schwab has benefited from an ongoing shift toward self-directed investing and increasing demand for financial advice. 
In recent quarters, Schwab has also capitalized on the higher interest rate environment, which has boosted net interest margin—an area that has been a strong focus for the financial industry this earnings season. 
JPMorgan Chase, for example, beat estimates with $23.53 billion in net interest income (NII), signaling strength in this critical area of revenue generation.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41290382/producer-inflation-rises-more-than-expected-in-september-as-food-transportation-c">Producer Inflation Rises More Than Expected In September As Food, Transportation Costs Jump</a>
What Else: With interest rates remaining elevated, Schwab's NII is expected to be a key driver of its upcoming earnings. Like JPMorgan and Wells Fargo, Schwab is poised to see continued benefit from the higher rate environment as it earns interest on client cash balances held in sweep accounts. 
This could offset any potential weakness in other areas, such as asset management fees, which may be pressured by market volatility.
Charles Schwab's business model is well-diversified, spanning brokerage, banking, and wealth management services, allowing it to capture growth across different segments. The bank's focus on low-cost trading, investment advisory services, and a broad range of financial products gives it a competitive advantage in attracting retail and institutional clients. 
In addition, Schwab's vast network of individual retirement accounts (IRAs) and retail brokerage accounts positions it well to benefit from the long-term shift toward self-directed retirement savings.
Read Also: <a href="https://www.benzinga.com/news/24/10/41288103/elon-musks-fully-autonomous-driving-dreams-now-scheduled-for-2025-but-regulatory-hurdles-stand-in-th">Elon Musk&#8217;s Fully Autonomous Driving Dreams Now Scheduled For 2025, But Regulatory Hurdles Stand In The Way Of Tesla&#8217;s Robotaxi Rollout</a>
<h2 class="wp-block-heading">How To Buy SCHW Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Charles Schwab&#8217;s case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SCHW has a 52-week high of $79.49 and a 52-week low of $48.66.

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Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) has outperformed the market over the past 20 years by 1.96% on an annualized basis producing an average annual return of 10.49%. Currently, Charles Schwab has a market capitalization of $119.49 billion. 
Buying $100 In SCHW: If an investor had bought $100 of SCHW stock 20 years ago, it would be worth $728.21 today based on a price of $65.32 for SCHW at the time of writing.
<h3>Charles Schwab's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728486037_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Charles Schwab Stock In The Last 20 Years

Morgan Stanley analyst Michael Cyprys maintains Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) with a Equal-Weight and lowers the price target from $70 to $68.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Charles Schwab, Lowers Price Target to $68

September proved to be an unseasonably strong month for the market, with the <a href="https://www.benzinga.com/news/earnings/24/10/41113340/us-stocks-set-for-shaky-start-ahead-of-jolts-data-nike-earnings-strategist-says-these-3-structural-">S&amp;P 500, a measure of broader market performance, ending the month up 2.02%. </a>Trading volume on full-range brokerage services provider Charles Schwab Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) platforms, however, dipped.
What Happened: The Schwab Trading Activity Index, or STAX, fell from 53.15 in August to 47.10 in September, a release from the Charles Schwab on Monday showed. The STAX is calculated using a sampling method, drawing data from the firm&#8217;s client base of millions of funded accounts, including those accounts that completed a trade in the month.
The index indicates what traders were doing and how they were positioned in the market that month.
The September reading of 47.10 would rank as a &#8220;moderate low&#8221; compared to historical averages, the firm said.
What Drove Trading Action: Investor actions were either proactive or reactive as they positioned themselves for a slew of economic data that dropped during the month. &#8220;In September there was no shortage of market-affecting economic data, and Schwab's clients responded in kind by de-risking and taking profit opportunities," said Joe Mazzola, Head Trading &amp; Derivatives Strategist at Charles Schwab.
The market has factored in an aggressive Federal Reserve and Charles Schwab&#8217;s clients were largely optimistic about the economic activity. 
The firm highlighted the divergence between the market performance and the STAX score, calling it one of the biggest divergences in the history of its analysis. &#8220;The extent of the rate cut in September caught many by surprise and, taken in combination with all the other economic data swirling during the month, it make sense that clients pulled back a bit even as the markets soared,&#8221; it said.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the S&amp;P 500 Index started September on a negative note but bottomed at $547.71 (intraday) on Sept. 9 and at $538.71 (closing) on Sept. 6. The ETF rebounded thereafter and closed the month at an all-time high of $573.76. 

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="446" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1024x446.png" alt="" class="wp-image-582402" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1024x446.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-768x335.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1536x670.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12.png 1915w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Benzinga Pro data
See Also: <a href="https://www.benzinga.com/money/best-value-stocks">Best Value Stocks </a>
The S&amp;P 500 and the Dow Industrials also clocked record highs in the final session of September, as they ended at 5,762.48 and 42,330.15, respectively. On an intraday basis, these two indices scored records of 5,767.37 on Sept. 26 and 42,628.32 on Sept. 27.
The tech-heavy Nasdaq Composite Index ended September at 18,189.17, marking a 2-1/2 high month but shy off its all-time closing high of 18,647.45 (July 10). The index&#8217;s intra-high is 18,671.07 (July 11).
Stock Statistics: Early movers into artificial intelligence and a beaten-down chip stock were among the popular names bought by Charles Schwab&#8217;s clients. On the other hand, the firm&#8217;s clients were net sellers of some high-profile tech stocks, a telecom company and a couple of China-based companies.
<ul>
<li>Stocks In Favor
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)</li>
<li>Intel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NYSE">INTC</a>)</li>
<li>Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
</ul>
</li>
<li>Stocks Out Of Favor
<ul>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)</li>
<li>AT&amp;T, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</li>
</ul>
</li>
</ul>
Underperforming chip stock Intel found some bounce in September amid rumors concerning a stake sale and spin-off. The stock ended September up over 6%. The interest in Palantir does not come as a surprise given the kind of retail interest and the company&#8217;s inclusion in the S&amp;P 500 Index.
Interestingly, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which has been a high-flier in October, does not feature in the top six most-bought list of Charles Schwab.
Although traders were net sellers of Alibaba and Nio in September, these two stocks have been on fire since China announced <a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb">stimulus measures announced in late-September. </a>
The SPY ended Friday&#8217;s session up 0.91% at 572.98, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a>
Image via Flickr
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41143855/if-you-invested-1-000-in-peter-thiel-co-founded-palantir-when-it-ipoed-4-years-ago-heres-how-much-yo">If You Invested $1,000 In Peter Thiel Co-founded Palantir When It IPOed 4 Years Ago, Here&#8217;s How Much You Would Have Now</a></li>
</ul>

18 analysts have shared their evaluations of Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Charles Schwab, presenting an average target of $74.78, a high estimate of $90.00, and a low estimate of $64.00. A 5.41% drop is evident in the current average compared to the previous average price target of $79.06. 
<img src="https://www.benzinga.com/files/images/story/2024/1728068512_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of Charles Schwab among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Fannon</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$73.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Christopher Allen</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$72.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Alexander Blostein</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$67.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Kyle Voigt</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Michael Cyprys</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$70.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$80.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Patrick Moley</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$64.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Lowers</td>
<td>Market Outperform</td>
<td>$82.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Kenneth Worthington</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$78.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$68.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$79.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>Craig Siegenthaler</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$66.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$71.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Michael Cyprys</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$71.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$77.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Brennan Hawken</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$90.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Daniel Fannon</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$88.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Charles Schwab. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Charles Schwab compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Charles Schwab's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Charles Schwab's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SCHW/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Charles Schwab analyst ratings.</a>
<h2>Unveiling the Story Behind Charles Schwab</h2>
Charles Schwab operates in brokerage, wealth management, banking, and asset management. It runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website, and it has mobile trading capabilities. It also operates a bank and a proprietary asset-management business and offers services to independent investment advisors. Schwab is among the largest firms in the investment business, with over $8 trillion of client assets at the end of December 2023. Nearly all of its revenue is from the United States.
<h3>Charles Schwab: A Financial Overview</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, Charles Schwab showcased positive performance, achieving a revenue growth rate of 0.73% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Charles Schwab's net margin excels beyond industry benchmarks, reaching 25.82%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Charles Schwab's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.56%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Charles Schwab's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.26%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Charles Schwab's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.64.
<h2>What Are Analyst Ratings?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Charles Schwab Through 18 Analysts

Jefferies analyst Daniel Fannon maintains Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) with a Buy and lowers the price target from $79 to $73.

Jefferies Maintains Buy on Charles Schwab, Lowers Price Target to $73

As the 2024 elections heat up, a look at the data reveals that publicly traded companies are indirectly supporting cannabis legalization efforts by funneling millions of dollars into Democratic candidates&#8217; campaigns.&nbsp;
This alignment could prove significant for the industry, particularly as Democratic candidate <a href="https://www.benzinga.com/markets/cannabis/24/09/41106120/kamala-harris-we-need-to-legalize-cannabis-vp-says-for-first-time-as-presidential-candidate-in-a">Kamala Harris</a> reiterated that cannabis should be legalized nationwide.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41106120/kamala-harris-we-need-to-legalize-cannabis-vp-says-for-first-time-as-presidential-candidate-in-a">Kamala Harris: &#8216;We Need to Legalize&#8217; Cannabis, VP Says For First Time As Presidential Candidate In &#8216;All The Smoke&#8217; Podcast</a>
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Corporate Giants </h3>
Big-name companies like Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) are among those whose employees have poured large sums into Democratic coffers.&nbsp;
According to <a href="https://www.quiverquant.com/">Quiver Quantitative</a>, a data platform that tracks political donations, Google&#8217;s workforce contributed $4.1 million to Democrats, compared to just $629,778 to <a href="https://www.benzinga.com/markets/cannabis/24/09/40879364/young-republicans-break-ranks-to-back-cannabis-legalization-is-the-gop-ready-for-a-shift-in-the-">Republicans</a>. Similarly, Microsoft employees sent $3.45 million to Democrats, dwarfing their $876,320 to Republicans.&nbsp;
Netflix stands out with $4.47 million exclusively to Democrats, revealing a clear preference among tech giants.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="560" height="591" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01183749/election-donations.jpg" alt="" class="wp-image-575612" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01183749/election-donations.jpg 560w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01183749/election-donations-284x300.jpg 284w" sizes="(max-width: 560px) 100vw, 560px" /><figcaption class="wp-element-caption">Image via<a href="https://www.instagram.com/p/DAjbdT3yITo/"> Quiver Quantitative </a></figcaption></figure>
<h3 class="wp-block-heading">Financial Industry Weighs In</h3>
Financial powerhouses like Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) also show their leanings. Blackstone, traditionally seen as conservative, donated over $1 million to Democrats but still favored Republicans with over $6 million.&nbsp;
Meanwhile, Charles Schwab employees contributed $2.98 million solely to Democratic campaigns.
<h3 class="wp-block-heading">Democratic Funding </h3>
With over $20 million directed toward Democratic<a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien"> candidates </a>across industries, cannabis legalization could receive a much-needed push.&nbsp;
Notably, contributions from companies like Palantir (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) demonstrate the industry&#8217;s broader support, with Palantir employees donating $2.26 million to Democrats, compared to $1.05 million to Republicans.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40753138/how-google-ai-and-digital-marketing-are-changing-weed-retailing-for-good-how-you-can-and-should-">How Google, AI, And Digital Marketing Are Changing Weed Retailing For Good, How You Can And Should Adapt</a>
Disclaimer: This data, includes donations to all PACs as of September 30, mapped to parties based on their expenditures. It is heavily influenced by company executives, who often make multi-million dollar Super PAC donations. Donations to PACs with mixed expenditures between parties are not included.

Interactive Brokers Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibkr#NASDAQ">IBKR</a>) has released the Electronic Brokerage segment&#39;s performance metrics for September 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs).
<h2>IBKR&#39;s September Performance Breakdown</h2>
Total client DARTs in September were 2,634,000, which increased 46.5% from September 2023 but fell 2.9% from the last month.
On an annualized basis, the Cleared Average DARTs per customer account was 190 for September 2024. The metric increased 13.1% on a year-over-year basis but declined 4% from August 2024.
IBKR&#39;s total customer accounts rose 28.3% year over year and 1.9% from the last month to 3.1 million. Net new accounts were 58,200, witnessing a decline of 6.9% year over year and 12.7% sequentially.
Interactive Brokers&#39; total options contracts were 100 million in September 2024, up 32.5% year over year but down 10.5% sequentially. Future contracts declined marginally year over year and 15.5% from August to 17 million.
At the end of September 2024, client equity was $541.5 billion, which grew 46.4% year over year and 5.1% from the last month. IBKR recorded client credit balances of $116.7 billion, up 19.1% from September 2023 and 5.1% from the August 2024 level. The company&#39;s customer margin loan balance of $55.8 billion increased 28% from the year-ago month and 1.6% from the last month.
<h2>IBKR&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of Interactive Brokers have surged 66.8%, outperforming the industry&#39;s growth of 17.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e4/79977.jpg?v=129376498" />
Image Source: Zacks Investment Research
Currently, IBKR has a Zacks Rank #3 (Hold).
Two other brokerage firms, The Charles Schwab Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) and LPL Financial Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>), will come out with their monthly performances in the coming days.
The Zacks Consensus Estimate for SCHW 2024 earnings per share has moved marginally downward over the past 60 days while the metric has moved marginally upward for LPLA in the past month.
At present, SCHW &amp; LPLA carry a Zacks Rank #3 each.
<a href="https://www.zacks.com/stock/news/2344607/interactive-brokers-reports-y-y-increase-in-september-client-darts?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2344607">To read this article on Zacks.com click here.</a>

Earnings

Large Cap

Contracts

IBKR

LPLA

Interactive Brokers Reports Y/Y Increase in September Client DARTs

Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) has outperformed the market over the past 20 years by 2.06% on an annualized basis producing an average annual return of 10.48%. Currently, Charles Schwab has a market capitalization of $116.84 billion. 
Buying $100 In SCHW: If an investor had bought $100 of SCHW stock 20 years ago, it would be worth $721.69 today based on a price of $63.87 for SCHW at the time of writing.
<h3>Charles Schwab's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727803945_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 20 Years Ago Would Be Worth $700 Today

Live On CNBC, Stephanie Link Announces Sold Charles Shawb

Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) CEO Walt Bettinger will retire at the end of 2024. Rick Wurster, the current president, will succeed him starting Jan. 1, 2025.
What Happened: Bettinger, who turns 65 next year, cited his upcoming birthday as a reason for stepping down. He will continue to serve as co-chair of Schwab&#8217;s board. In a statement, Bettinger expressed confidence in Wurster&#8217;s leadership, noting their eight-year working relationship, CNBC <a href="https://www.cnbc.com/2024/10/01/charles-schwab-ceo-walt-bettinger-to-retire-at-end-of-2024-rick-wurster-to-replace-him.html">reported</a> on Tuesday.
Wurster, in an interview on CNBC&#8217;s &#8220;Squawk Box,&#8221; assured that there would be no immediate strategic changes. &#8220;We&#8217;re going to continue what we&#8217;ve been doing, which is deliver for our clients and delight them,&#8221; he said.
Under Bettinger&#8217;s leadership since 2008, Schwab&#8217;s client assets surged from $1.14 trillion to $9.74 trillion, partly due to the acquisition of TD Ameritrade in 2020. Bettinger mentioned the completion of Ameritrade&#8217;s integration as another reason for his decision to retire.
Schwab&#8217;s stock has risen approximately 150% during Bettinger&#8217;s tenure, despite underperforming the broader market in the past two years. Shares of Schwab were up less than 1% in premarket trading on Tuesday.
See Also: <a href="https://www.benzinga.com/news/24/09/41082667/heres-why-china-is-urging-its-companies-to-forgo-nvidias-chips?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s Why China is Urging Its Companies to Forgo Nvidia&#8217;s Chips</a>
Why It Matters: Bettinger&#8217;s retirement comes at a pivotal time for Charles Schwab. In August, Toronto-Dominion Bank <a href="https://www.benzinga.com/markets/equities/24/08/40500034/charles-schwab-shares-drop-over-4-after-hours-as-td-bank-cuts-stake-following-2-6b-anti-money-la">reduced its stake</a> in Schwab, selling 40.5 million shares. This move followed TD Bank&#8217;s announcement of setting aside $2.6 billion to cover potential fines related to deficiencies in its anti-money laundering program.
The sale reduced TD Bank&#8217;s ownership in Schwab from 12.3% to 10.1%, impacting Schwab&#8217;s stock price. TD Bank&#8217;s decision was influenced by ongoing investigations into its anti-money laundering practices, which have been under scrutiny due to allegations involving Chinese drug traffickers laundering money through the bank.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/41084992/nvidia-stock-could-touch-800-by-2030-bgg-executive-predicts-550-upside-driven-by-ai-revolution-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Could Touch $800 By 2030, BGG Executive Predicts 550% Upside Driven By AI Revolution And Web3 Transition</a></li>
</ul>
Image via Flickr
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

Charles Schwab's CEO Bettinger Announces Retirement, Names President Rick Wurster As Successor

Management

Charles Schwab Says Walt Bettinger Has Notified Board Of His Intention To Retire As CEO, Effective December 31, 2024; Rick Wurster Named As CEO To Succeed Bettinger

Citigroup analyst Christopher Allen maintains Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) with a Neutral and lowers the price target from $75 to $72.

Citigroup Maintains Neutral on Charles Schwab, Lowers Price Target to $72

Goldman Sachs analyst Alexander Blostein maintains Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) with a Neutral and lowers the price target from $71 to $67.

Goldman Sachs Maintains Neutral on Charles Schwab, Lowers Price Target to $67

Investors with a lot of money to spend have taken a bearish stance on Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SCHW, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 17 uncommon options trades for Charles Schwab.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 70%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $944,461, and 4 are calls, for a total amount of $750,128.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $75.0 for Charles Schwab, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Charles Schwab options trades today is 4687.22 with a total volume of 19,787.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charles Schwab's big money trades within a strike price range of $40.0 to $75.0 over the last 30 days.
<h3>Charles Schwab Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727294527_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SCHW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.08</td>
<td>$1.05</td>
<td>$1.06</td>
<td>$75.00</td>
<td>$530.0K</td>
<td>7.3K</td>
<td>6.5K</td>
</tr>
<tr>
<td>SCHW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.6</td>
<td>$1.49</td>
<td>$1.6</td>
<td>$62.50</td>
<td>$159.5K</td>
<td>13.2K</td>
<td>2.9K</td>
</tr>
<tr>
<td>SCHW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.41</td>
<td>$1.33</td>
<td>$1.41</td>
<td>$62.50</td>
<td>$155.5K</td>
<td>13.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>SCHW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.04</td>
<td>$0.99</td>
<td>$1.02</td>
<td>$75.00</td>
<td>$153.0K</td>
<td>7.3K</td>
<td>1.5K</td>
</tr>
<tr>
<td>SCHW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.55</td>
<td>$1.54</td>
<td>$1.54</td>
<td>$62.50</td>
<td>$102.4K</td>
<td>13.2K</td>
<td>1.9K</td>
</tr>
</tbody>
</table>

<h3>About Charles Schwab</h3>
Charles Schwab operates in brokerage, wealth management, banking, and asset management. It runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website, and it has mobile trading capabilities. It also operates a bank and a proprietary asset-management business and offers services to independent investment advisors. Schwab is among the largest firms in the investment business, with over $8 trillion of client assets at the end of December 2023. Nearly all of its revenue is from the United States.
In light of the recent options history for Charles Schwab, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Charles Schwab's Current Market Status</h3>
<ul>
<li>With a volume of 3,206,756, the price of SCHW is down -0.78% at $64.08. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 20 days.</li>
</ul>
<h3>What The Experts Say On Charles Schwab</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $70. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Charles Schwab options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Looking At Charles Schwab's Recent Unusual Options Activity

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$8.00</td>
<td>$86.1K</td>
<td>35.6K</td>
<td>2.9K</td>
</tr>
<tr>
<td>SCHW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$69.00</td>
<td>$75.7K</td>
<td>19</td>
<td>1.0K</td>
</tr>
<tr>
<td>COF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$140.00</td>
<td>$156.0K</td>
<td>540</td>
<td>408</td>
</tr>
<tr>
<td>MA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$500.00</td>
<td>$49.5K</td>
<td>355</td>
<td>345</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$170.00</td>
<td>$64.0K</td>
<td>384</td>
<td>326</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$85.00</td>
<td>$69.1K</td>
<td>1.2K</td>
<td>259</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$37.00</td>
<td>$31.0K</td>
<td>37.2K</td>
<td>200</td>
</tr>
<tr>
<td>EG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$370.00</td>
<td>$35.0K</td>
<td>1</td>
<td>150</td>
</tr>
<tr>
<td>RKT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$19.00</td>
<td>$25.2K</td>
<td>607</td>
<td>144</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$240.00</td>
<td>$25.6K</td>
<td>7.6K</td>
<td>105</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bullish, expiring in 115 day(s) on January 17, 2025. This event was a transfer of 1000 contract(s) at a $8.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $86.1K, with a price of $86.0 per contract. There were 35685 open contracts at this strike prior to today, and today 2907 contract(s) were bought and sold. 
• Regarding SCHW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), we observe a call option sweep with bearish sentiment. It expires in 24 day(s) on October 18, 2024. Parties traded 1065 contract(s) at a $69.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $75.7K, with a price of $71.0 per contract. There were 19 open contracts at this strike prior to today, and today 1067 contract(s) were bought and sold. 
• Regarding COF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), we observe a put option trade with bearish sentiment. It expires in 52 day(s) on November 15, 2024. Parties traded 300 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $156.0K, with a price of $520.0 per contract. There were 540 open contracts at this strike prior to today, and today 408 contract(s) were bought and sold. 
• For MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we notice a put option trade that happens to be bearish, expiring in 52 day(s) on November 15, 2024. This event was a transfer of 23 contract(s) at a $500.00 strike. The total cost received by the writing party (or parties) was $49.5K, with a price of $2155.0 per contract. There were 355 open contracts at this strike prior to today, and today 345 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a call option sweep that happens to be bullish, expiring in 178 day(s) on March 21, 2025. This event was a transfer of 80 contract(s) at a $170.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $64.0K, with a price of $800.0 per contract. There were 384 open contracts at this strike prior to today, and today 326 contract(s) were bought and sold. 
• For FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we notice a call option sweep that happens to be bearish, expiring in 115 day(s) on January 17, 2025. This event was a transfer of 144 contract(s) at a $85.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $69.1K, with a price of $480.0 per contract. There were 1219 open contracts at this strike prior to today, and today 259 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bullish sentiment. It expires in 479 day(s) on January 16, 2026. Parties traded 100 contract(s) at a $37.00 strike. The total cost received by the writing party (or parties) was $31.0K, with a price of $310.0 per contract. There were 37245 open contracts at this strike prior to today, and today 200 contract(s) were bought and sold. 
• Regarding EG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), we observe a put option sweep with bearish sentiment. It expires in 52 day(s) on November 15, 2024. Parties traded 50 contract(s) at a $370.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $700.0 per contract. There were 1 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a put option sweep with bearish sentiment. It expires in 87 day(s) on December 20, 2024. Parties traded 144 contract(s) at a $19.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $25.2K, with a price of $175.0 per contract. There were 607 open contracts at this strike prior to today, and today 144 contract(s) were bought and sold. 
• Regarding AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we observe a call option trade with bullish sentiment. It expires in 479 day(s) on January 16, 2026. Parties traded 5 contract(s) at a $240.00 strike. The total cost received by the writing party (or parties) was $25.6K, with a price of $5130.0 per contract. There were 7683 open contracts at this strike prior to today, and today 105 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FUTU

SOFI

10 Financials Stocks Whale Activity In Today's Session

The Charles Schwab Corporation announced today that it has scheduled a Fall Business Update for institutional investors on Tuesday, October 15th. This Update, which will be held via live public webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management's strategic focus. The program is scheduled to run from 7:30 a.m. - 8:30 a.m. CT, 8:30 a.m. - 9:30 a.m. ET. Participants will include Co-Chairman and Chief Executive Officer Walt Bettinger, President Rick Wurster, Chief Financial Officer Mike Verdeschi, and Managing Director Peter Crawford.
The Update will be accessible at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fschwabevents.com%2Fcorporation&amp;esheet=54125309&amp;newsitemid=20240924368716&amp;lan=en-US&amp;anchor=https%3A%2F%2Fschwabevents.com%2Fcorporation&amp;index=1&amp;md5=8195874710f7f59c05c88cd68e9246dd">https://schwabevents.com/corporation</a>.

Schwab Announces Its Fall Business Update On October 15, 2024 Designed To Help The Investment Community Keep Abreast Of Recent Developments And Management's Strategic Focus

Online furniture retailer Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) said on Monday that it is <a href="https://www.benzinga.com/news/24/09/40970727/federal-reserves-bold-rate-cut-retail-sales-rise-and-more-this-week-in-economics">offering $700 million</a> in secured notes to repay some of its debt, joining other companies&#8217; run to the debt markets less than a week after the Federal Reserve cut interest rates for the first time in four years.
The Fed lowered its key interest rate on Wednesday by an unexpected 50 basis points to a range between 4.75% and 5%, setting in motion an expected gradual decrease in rates on bonds, car loans, mortgages and anything else with an interest rate.
Wayfair said the proceeds from the notes, which will mature in 2029, go towards paying back certain convertible senior notes and general corporate purposes.
Read Also: <a href="https://www.benzinga.com/news/24/09/40969943/fed-rate-cut-fuels-market-rally-amidst-valuation-fears">Fed Rate Cut Fuels Market Rally Amidst Valuation Fears</a>
Wayfair is not alone in its dash for debt as 10 high-grade issuers — including TMobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) — are looking to raise money from borrowing in the junk-bond market, a flurry that could result in $20 billion to $25 billion in deals this week, Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-09-23/us-companies-are-ready-to-borrow-billions-following-fed-rate-cut?srnd=homepage-americas&amp;sref=TBDibEcD"> reported</a>.
The average yield in the U.S. investment-grade and high-yield bond markets fell after the Fed rate cut, enticing issuers into the market.
Cigarette-filter maker Cerdia Holdings issued $800 million in debt to refinance notes due 2027 and pay for a shareholder distribution.
Australian coal miner Coronado Global Resources (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CODQL#OTC">CODQL</a>) launched a $400 million offer to redeem its 2026 notes, while U.S.-based telecommunications company Windstream Holdings, Inc. put together a $1.3 billion debt package through the loan and bond markets to refinance loans.
Price Action: Investment banks that underwrite corporate bonds saw gains and losses on Monday.
<ul>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) declined 0.7% to close at $64.93</li>
<li>JPMorgan &amp; Chase Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) rose 0.17% to close at $211.44</li>
<li>Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) slipped 0.2% to close at $497.41</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/economics/24/09/40965570/fed-rate-cut-may-drive-investors-away-from-money-markets-says-portfolio-manager">Fed Rate Cut May Drive Investors Away From Money Markets, Says Portfolio Manager</a></li>
</ul>
Photo: Shutterstock

Bonds

CODQL

TMUS

Companies Run To Bond Markets After Last Week's Fed Rate Cut

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$80.00</td>
<td>$34.7K</td>
<td>20.6K</td>
<td>6.1K</td>
</tr>
<tr>
<td>ABR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$16.00</td>
<td>$80.0K</td>
<td>3.9K</td>
<td>4.1K</td>
</tr>
<tr>
<td>SCHW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$62.50</td>
<td>$27.7K</td>
<td>8.4K</td>
<td>3.1K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$64.00</td>
<td>$69.5K</td>
<td>109</td>
<td>1.4K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$70.00</td>
<td>$31.4K</td>
<td>2.7K</td>
<td>1.1K</td>
</tr>
<tr>
<td>VLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$10.00</td>
<td>$110.0K</td>
<td>785</td>
<td>1.0K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$190.00</td>
<td>$61.9K</td>
<td>745</td>
<td>867</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$90.00</td>
<td>$72.9K</td>
<td>32</td>
<td>503</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$220.00</td>
<td>$57.6K</td>
<td>535</td>
<td>245</td>
</tr>
<tr>
<td>FI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$145.00</td>
<td>$72.4K</td>
<td>1.3K</td>
<td>228</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option sweep with bearish sentiment. It expires in 120 day(s) on January 17, 2025. Parties traded 61 contract(s) at a $80.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $34.7K, with a price of $570.0 per contract. There were 20661 open contracts at this strike prior to today, and today 6183 contract(s) were bought and sold. 
• Regarding ABR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABR#NYSE">ABR</a>), we observe a call option trade with bullish sentiment. It expires in 29 day(s) on October 18, 2024. Parties traded 4000 contract(s) at a $16.00 strike. The total cost received by the writing party (or parties) was $80.0K, with a price of $20.0 per contract. There were 3995 open contracts at this strike prior to today, and today 4128 contract(s) were bought and sold. 
• For SCHW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), we notice a put option sweep that happens to be bearish, expiring in 29 day(s) on October 18, 2024. This event was a transfer of 165 contract(s) at a $62.50 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $27.7K, with a price of $168.0 per contract. There were 8421 open contracts at this strike prior to today, and today 3131 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a call option sweep with bullish sentiment. It expires in 22 day(s) on October 11, 2024. Parties traded 781 contract(s) at a $64.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $69.5K, with a price of $89.0 per contract. There were 109 open contracts at this strike prior to today, and today 1409 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bullish sentiment. It expires in 29 day(s) on October 18, 2024. Parties traded 109 contract(s) at a $70.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $31.4K, with a price of $288.0 per contract. There were 2785 open contracts at this strike prior to today, and today 1179 contract(s) were bought and sold. 
• For VLY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>), we notice a put option trade that happens to be bearish, expiring in 120 day(s) on January 17, 2025. This event was a transfer of 1000 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $110.0K, with a price of $110.0 per contract. There were 785 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bearish, expiring in 29 day(s) on October 18, 2024. This event was a transfer of 96 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $61.9K, with a price of $645.0 per contract. There were 745 open contracts at this strike prior to today, and today 867 contract(s) were bought and sold. 
• Regarding FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we observe a call option trade with bearish sentiment. It expires in 155 day(s) on February 21, 2025. Parties traded 300 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $72.9K, with a price of $243.0 per contract. There were 32 open contracts at this strike prior to today, and today 503 contract(s) were bought and sold. 
• Regarding JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we observe a put option sweep with neutral sentiment. It expires in 92 day(s) on December 20, 2024. Parties traded 40 contract(s) at a $220.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $57.6K, with a price of $1450.0 per contract. There were 535 open contracts at this strike prior to today, and today 245 contract(s) were bought and sold. 
• For FI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), we notice a call option sweep that happens to be bearish, expiring in 120 day(s) on January 17, 2025. This event was a transfer of 20 contract(s) at a $145.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $72.4K, with a price of $3620.0 per contract. There were 1372 open contracts at this strike prior to today, and today 228 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COIN

PYPL

In a report released today, Patrick Moley from Piper Sandler maintained a Hold rating on Charles Schwab (SCHW – Research Report), with a price targ...

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Charles Schwab

Charles Schwab (SCHW) Forecast

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