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Industry Report Card: U.S. Brokerage Companies Nov 03 Product Image

Industry Report Card: U.S. Brokerage Companies Nov 03

  • Published: November 2003
  • Region: United States
  • Standard & Poors

FEATURED COMPANIES

  • Bear Stearns Cos. LLC
  • Charles Schwab Corp.
  • Credit Suisse (USA) Inc.
  • E*TRADE Financial Corp.
  • Jefferies Group LLC
  • LaBranche & Co Inc.
  • MORE

Abstract
Although the U.S. brokerage industry has shown recent earnings growth on a year-to-year basis, this performance must be viewed in light of the industry's unusually weak performance in third-quarter 2002, which included several prominent corporate bankruptcies and a slide in equity markets. Performance year-to-date in 2003 has been buttressed by an accommodative Fed, tightening credit spreads, and strong MBS issuance. These factors have combined to support strong results in fixed-income sales and trading and underwriting during the first half. The third quarter, however, was notable for a sharp rise in the long end of the yield curve. Despite this, most firms did reasonably well, even firms such as Bear Stearns Cos. Inc. and Lehman Brothers Holdings Inc., which get a...

Companies mentioned in this report are:
- Merrill Lynch & Co. Inc.
- Bear Stearns Cos. LLC
- Lehman Brothers Holdings Inc.
- Morgan Stanley
- Legg Mason Inc.
- Jefferies Group LLC
- The Goldman Sachs Group Inc.
- Charles Schwab Corp.
- Citigroup Global Markets Holdings Inc.
- LaBranche & Co Inc.
- E*TRADE Financial Corp.
- Credit Suisse (USA) Inc.
- Timber READ MORE >

- Merrill Lynch & Co. Inc.
- Bear Stearns Cos. LLC
- Lehman Brothers Holdings Inc.
- Morgan Stanley
- Legg Mason Inc.
- Jefferies Group LLC
- The Goldman Sachs Group Inc.
- Charles Schwab Corp.
- Citigroup Global Markets Holdings Inc.
- LaBranche & Co Inc.
- E*TRADE Financial Corp.
- Credit Suisse (USA) Inc.
- Timber Hill LLC

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