Schwab Shares Fall as New Brokerage Accounts Miss Estimates.

CHARLES Schwab Corp.; STOCK prices; STOCKS (Finance); INVESTORS; CHIEF financial officers; REGIONAL banks; CORPORATE profits

Charles Schwab Corp. experienced a significant drop in its shares after reporting that fewer clients opened new brokerage accounts than expected. While the number of new accounts did increase compared to the previous year, it fell short of analysts' estimates. Executives mentioned the possibility of using excess capital for reducing the company's borrowing and restructuring its balance sheet. Schwab's stock plummeted 7.5% following the news. The company has faced challenges due to the Federal Reserve's interest rate increases and customers seeking higher-yielding alternatives. However, Schwab plans to introduce an alternative investments platform for qualified individual investors this year. [Extracted from the article]

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