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Fly News Breaks for February 28, 2017
AMTD, ETFC, SCHW
Feb 28, 2017 | 10:38 EDT
SunTrust reiterate our Buy ratings on Charles Schwab (SCHW), E-Trade (ETFC), and TD Ameritrade (AMTD) shares following Fidelity Investments' announcement of a cut of its base commission rate to $4.95 per trade. The firm's analyst believes the ultimate impact will be less than headlines suggest due to high switching costs, high volume traders already pay lower rates, and increased asset-based revenue is the primary driver of growth, not commissions.
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