Earlier Charles Schwab (SCHW) downside attributed to comments from CFO giving FY23 outlook; expects cash sorting activity to slow down "at some point during 2023."
- CFO added cash sorting activity will be "Offset by organic cash that comes in via new accounts and we will see a return of deposit growth".
- Sees Q423 NIM in low 260bps (exp. 2.46%), and sees adj. OpEx growth of +7-8% (exp. +6%), according to JPMorgan cited by traders.
27 Jan 2023 - 18:53- - Source: Newswires/SeekingAlpha
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts