Word: analysts
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...ball is now in TD Ameritrade's court, a firm that has been gaining market share in recent years, with its flat $9.99 fee. In 2009, TD Ameritrade's daily average revenue [producing] trades rose 17% while Schwab's fell 2%, said Michael Hecht, an analyst at JMP Securities, in a recent note. "We were the one shop that had simple, straightforward, transparent pricing - one price point for all clients and there's no gimmick to it," says Tomczyk. "Clients don't like it when think they have one price and wind up getting nickeled and dimed to death...
...lower rate - TD Ameritrade is likely feeling pressure to at least match its competitors' rates to maintain market share. "If TD Ameritrade starts to lose customers because of [pricing], obviously there's going to be some sensitivity to lowering their commission rates," says Joel Jeffrey, a vice president and analyst at Keefe, Bruyette & Woods...
...already on at some firms. Schwab's lower commission announced in January, for example, will reduce revenue by $15 million to $20 million in the first quarter, and cut earnings by about 4 cents a share, or about 6%, in full year 2010, according to Richard Repetto, an analyst at Sandler O'Neill. Repetto estimates the company would need to see a 30% increase in daily average revenue trades to offset the lower pricing...
...Ameritrade, every $1 that's trimmed from commission rates will lower the company's 2011 earnings by 7 cents a share, or about 5%, estimates Matt Fischer, an analyst at Credit Agricole Securities (USA) Inc. However, this decline could be offset by an increase in business and market share...
...chronic diseases--about half of which are oncology drugs--represent one of the fastest-growing segments of the health care market. AmerisourceBergen's revenue in the sector topped $16 billion last fiscal year. "If Cardinal is going to play, they have to move now," says Sanford C. Bernstein & Co. analyst Helene Wolk, who is bearish on Cardinal. "And they're going to have to buy, not build, to get to scale as quickly as possible...