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Charles Schwab's Earnings Beat Boosts Stock, Deposits Drop as Share Repurchases Paused.
finance2 years ago

Charles Schwab's Earnings Beat Boosts Stock, Deposits Drop as Share Repurchases Paused.

Charles Schwab reported a 20% increase in adjusted earnings and a 10% increase in revenue, causing its stock to rise after a six-week sell-off. M&T Bank also rallied after beating earnings estimates, while State Street missed earnings estimates and saw its stock drop. Investors are cautiously watching bank earnings following recent industry turmoil, with concerns about contagion from the Silicon Valley Bank and Signature Bank panics spreading to Charles Schwab.