BankUnited, the first bank to be bought by a private equity firm, is now the nation’s top performing mid-sized bank.» Read More
If you were trying to access your online brokerage account during Tuesday’s market nosedive – or even earlier today -- you may have encountered some trouble.
Instead of heading for the exits, investors are using Tuesday's massive sell-off as an opportunity to rebalance their portfolios and add to their stock positions, Joe Moglia, chief executive officer of TD Ameritrade, told CNBC's Maria Bartiromo.
Don't expect Ameritrade to cut its commissions as competition continues to heat up among banks and online brokerages. Wells Fargo is the latest big bank to offer free online trading to active traders with accounts of a certain size, following a similar move by Bank of America last fall. But Joe Moglia, chief executive officer of Ameritrade, doesn't feel pressured to follow suit.
The Dow closed at a record for the third straight session and Nasdaq fell slightly as investors bought selectively ahead of earnings reports and on a steep drop in oil.
The online brokerage, formed last year when Ameritrade Holding bought TD Waterhouse USA from Toronto-Dominion Bank, said first-quarter net income rose to $146 million, or 24 cents per diluted share, from $86 million, or 21 cents, in the year-ago period.