William Blair Downgrades LPL Investment (LPLA) to Market Perform
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October 22, 2014 6:57 AM EDT
Keefe, Bruyette & Woods upgraded LPL Investment (NASDAQ: LPLA) from Outperform to Market Perform with a price target of $49.00 (from $60.00).
For an analyst ratings summary and ratings history on LPL Investment click here. For more ratings news on LPL Investment click here.
Shares of LPL Investment closed at $43.10 yesterday.
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October 21, 2014 4:17 PM EDT
LPL Financial (NASDAQ: LPLA) announced that it expects to incur greater than expected charges totaling $23 million in the third quarter associated with regulatory matters relating primarily to issues involving LPL Financial's systems, policies and procedures.
Net revenue for the third quarter is expected to be consistent with prior expectations, growing to approximately $1.1 billion. Due to the increased regulatory charges, the Company expects net income and diluted earnings per share to be in the range of $32 million to $34 million and $0.32 and $0.34 per share, respectively, for the third quarter. It is anticipated reported... More
