Securities brokerage industry

Article Abstract:

Earnings for the securities brokerage industry remained robust for 1999 and this is expected to continue for the near future, as well. Initial public offerings, acquisition and merger activity, and the needs of individual investors are expected to add to earnings. These stocks are timely for the year 2000, but have unexciting potential for the next three to five years.

Merrill Lynch and Company Inc., Morgan Stanley Dean Witter & Co., Dain Rauscher Inc., Donaldson, Lufkin and Jenrette Inc.

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Securities brokerage industry

Article Abstract:

Stocks for the securities brokerage industry have outperformed the market in early 1999 due to substantial exposure to technology in some firms and increased stock market activity. Industry earnings are expected to remain strong in spite of increased competition through consolidation, due to a backlog of underwriting activity for the investment banking sector and other factors. The potential for price appreciation is low for the next three to five years due to high earnings multiples, possible price contraction, and industry volatility.

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Securities brokerage industry

Article Abstract:

Many of the firms in the securities brokerage industry set records for revenues and earnings in 1999. Several companies, such as Charles Schwab Corp and others, have entered into electronic trading to take advantage of the Internet and the market for initial public offerings and mergers and acquisitions has been good for the industry, also. These stocks are timely in 1999 and several have appreciation potential over the next three to five years.

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