Diamonds and Dogs
July 16, 2010
DiamondThe Charles Schwab Corporation, SCHW
In the bearish market that sent us into the weekend it was interesting to see The Charles Schwab Corp emerge as not only a stock in positive territory but also become the largest gainer at the end of trading on Friday. Schwab reported flat second quarter net income due to wavers of clients' money market fees and low interest rates. The company is forecasting continual improvements for the second half of the year. They rose 6.3% to $14.24 per share and over 87 million shares were traded.
Dog
Bank of America, BAC
Bank of America ended the week with trades down primarily from a poor earnings report. Trading was down all day and they reported a top line that was a bit low. Disappointing results from Bank of America dragged down the Dow Jones industrial Average. This unfortunately led to Bank of America being removed from Goldman Sachs conviction buy list. They ended the day .479 pts down or -3.43% to $13.50 per share.
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