Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Last week was a lousy one to own stock in online discount brokerages.
Leading discount broker Charles Schwab (NYSE: SCHW) cut its commission rate on stock, ETF, and options trades to $0 (actually, zero-plus-a-bit for options), and as I predicted, rivals TD Ameritrade (NASDAQ: AMTD) and E*Trade Financial (NASDAQ: ETFC) quickly followed suit. The move sent shares of all three tumbling.