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SMF Blogs > Company Earnings > October 2008 > SWIM thinkorswim: Brokerage segment blows out 3Q08 on strong account growth and market share gains;

SWIM thinkorswim: Brokerage segment blows out 3Q08 on strong account growth and market share gains; October to a strong start in both segments - Merriman (7.43 )

Merriman notes SWIM handily beat firm's 3Q08 ests driven by upside in the Brokerage segment and cost improvements in the Education segment.

The Brokerage segment is scaling better than expected and continues to gain market share -- 30% of new accounts came from other brokers and that trend accelerated in Sept and Oct.

Investment Education continues to funnel student leads into the Brokerage segment, creating synergies that are unmatched in the marketplace and it shows -- thinkorswim's accounts and retail DARTs are growing faster than its peers. With interest rate risk now built into ests, firm believes that valuation multiples on SWIM should begin to expand, pushing the stock trading into the $10-14 range.
Posted: 10/31/2008 7:57:24 AM by Global Administrator | with 0 comments


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