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08:30
Jul 21 ◎

SCHW FY2026 Q2 Watch

Charles Schwab Corporation (The) (SCHW) FY2026 Q2 Earnings Call

SCHW CBOE ▾

Rick Wurster

Management raised full-year revenue guidance, reported record results, and expressed strong confidence in sustained growth from wealth, banking, and trading initiatives.

"Schwab is clearly leading the industry today and is uniquely positioned to win tomorrow."

SCHW WATCH

Rick Wurster

Schwab is collaborating with CBOE to launch binary options, indicating a new product partnership that could drive trading volumes for both firms.

"We are actively working with the CBOE on their rollout of binary options, but we haven't yet put out a timeline."

CBOE WATCH

HIGH

08:30
Apr 16 ◎

SCHW FY2026 Q1 Watch

Charles Schwab Corporation (The) (SCHW) FY2026 Q1 Earnings Call

SCHW CBOE NDAQ HOOD IBKR ▾

Mike Griteschi

Management raised full-year EPS expectations above prior scenario due to strong Q1, favorable rate path, and robust client engagement, signaling continued earnings momentum.

"we are tracking higher than the $5.70 to $5.80 EPS range implied by the scenario we showed back at the winter business update in January, which excluded the impact of buybacks and Forge."

SCHW WATCH

Rick Worcester

CBOE is developing binary option products that could serve as regulated prediction markets, potentially creating a new venue for Schwab to offer clients.

"I believe CBOE and others, they're coming up with binary options on different financial events and contracts that I think will act and behave very much like prediction markets."

CBOE WATCH

Rick Worcester

Nasdaq is likely entering the binary options space for financial events, which could expand Schwab's future product offering.

"I believe NASDAQ might be also doing something, they're coming up with binary options on different financial events and contracts that I think will act and behave very much like prediction markets."

NDAQ WATCH

Rick Worcester

Traders are taking smaller positions with shorter duration due to lack of conviction, driving record volume but compressing revenue per trade. — This behavioral shift suggests retail broker trading revenue per trade may compress across the industry even as volumes spike, pressuring margins for pure-play trading platforms.

"they are taking smaller positions, holding them for less duration because they have less conviction"

HOOD WATCH IBKR WATCH

Rick Worcester

Schwab's ETF monetization negotiations with over 400 asset managers are proceeding, with large firms already agreeing to new fees. — Asset managers distributing ETFs through Schwab will face new revenue-sharing costs, reducing their net fee income and potentially altering product economics.

"We've been in negotiation with the 400-plus asset managers or so that are on our platform, and those are going well. We've started with the big firms and knocked those out."

BLK WATCH

HIGH

08:30
Jan 21 ◎

SCHW FY2025 Q4 Watch

Charles Schwab Corporation (The) (SCHW) FY2025 Q4 Earnings Call

SCHW FRGE HOOD DKNG COIN ▾

Rick Worcester

Management's tone is very positive, citing record growth in 2025 and a strong 2026 outlook with continued revenue diversification and margin expansion.

"We are entering 2026 in a leading competitive position, and our momentum is strong."

SCHW WATCH

Rick Worcester

Schwab's acquisition of Forge expands its alternatives platform, potentially increasing Forge's reach and value as a private market liquidity provider.

"We entered a definitive agreement to acquire Forge, which will help us provide clients with multiple ways to access alternatives while democratizing private investing."

FRGE WATCH

Rick Worcester

Schwab explicitly distances itself from sports gambling, positioning Robinhood as a competitor in that space while reaffirming its focus on wealth management.

"let the sports betting houses like DraftKings and Robinhood and FanDuel, let them take that."

HOOD WATCH

Rick Worcester

Schwab declines to enter sports betting, leaving that market to DraftKings and others.

"let the sports betting houses like DraftKings and Robinhood and FanDuel, let them take that."

DKNG WATCH

Rick Worcester

Schwab clients hold about 20% of U.S. spot crypto exchange-traded products, indicating strong embedded crypto demand. — This high market share suggests Schwab's client base is a significant channel for crypto ETP flows, which could impact issuers and competitors.

"we remain on track to launch spot trading on Bitcoin and Ethereum in the first half of this year."

COIN WATCH MSTR WATCH

HIGH

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