Charles Schwab is in talks to buy TD Ameritrade, according to a source. A deal could be announced as early as today.
Shares of TD Ameritrade soared more than 20% in premarket trading on the report. Schwab's shares rose 7%.
Schwab was the first of the major players to make the move, eliminating commissions in early October. Schwab's competitors, including Fidelity and TD Ameritrade, were quick to follow.Schwab's founder and chairman Charles Schwab told CNBC'slast month that consolidation in the retail brokerage industry is a "logical conclusion that will occur."
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What to watch today: Dow futures mixed, Charles Schwab wants to buy TD AmeritradeU.S. stock futures pointed to a mixed open on Thursday as Wall Street remains on edge over global economic tensions.
Baca lebih lajut »