5 Stocks Making Big Moves After Releasing Their Financial Results

4. The Charles Schwab Corporation (NYSE:SCHW)

Number of Hedge Fund Holders: 72

Shares of The Charles Schwab Corporation (NYSE:SCHW) recently dropped to a nearly six-month low after missing profit and revenue expectations for the first quarter. The Texas-based financial services company earned 77 cents per share on an adjusted basis, down from 84 cents per share in the same period of 2021.

Revenue also decreased to $4.67 billion, from $4.72 billion in the first quarter of 2021. Analysts were expecting The Charles Schwab Corporation (NYSE:SCHW) to report earnings of 84 cents per share on revenue of $4.83 billion.

Among other updates, The Charles Schwab Corporation (NYSE:SCHW) announced that its core net new assets increased to $121 billion, representing an annualized organic growth rate of 6 percent. Moreover, the company ended the quarter with active brokerage accounts of 33.6 million and total client assets of $7.86 trillion, representing a year-over-year surge of 5 percent and 11 percent, respectively.