NYSE firms lose ground in Q1

NYSE firms that do business with the public reported a dip in profits and increased revenues in the first quarter.
JUN 13, 2007
New York Stock Exchange member firms that conduct business with the public reported a dip in profits and increased revenues in the first quarter compared to the first quarter of 2006, the exchange said yesterday. First quarter after-tax profits for those companies fell 2% to $3.03 billion, compared to $3.08 billion in the year-ago period. Revenues for those companies increased 16% to $89.84 billion, up from $77.56 billion in the year-ago period. Expenses totaled more than $85.2 billion in the first quarter, up 17% from $72.9 billion in the same period last year. The number of profitable firms fell to 136 from 170, while the number of unprofitable firms increased to 63 from 46.

Latest News

Carnegie Investment Counsel sued over valuation suppression
Carnegie Investment Counsel sued over valuation suppression

Retiring RIA seller David Laidlaw alleges the Carnegie valued his stake on $11.7 million EBITA while pitching potential buyers on $21.3 million.

Arch pushes AI portfolio monitoring into pre-investment due diligence
Arch pushes AI portfolio monitoring into pre-investment due diligence

New tool gives RIAs and family offices AI help vetting private market deals, with some users reportedly halving review time.

$4.5M raised on trust alone: SEC alleges affinity fraud in merchant lending
$4.5M raised on trust alone: SEC alleges affinity fraud in merchant lending

Investors got projected returns dressed up as real ones, SEC says

Treasury sets auto-enrollment rules for Trump Accounts, potentially adding 60 million more children
Treasury sets auto-enrollment rules for Trump Accounts, potentially adding 60 million more children

Parents must still act to get the $1,000 federal seed and employer contributions, giving financial advisors a role in the rollout.

FINRA bars former LPL broker for stealing $1.7 million from customers
FINRA bars former LPL broker for stealing $1.7 million from customers

FINRA booted Rudy Anguiano from the industry for “conversion - the intentional and unauthorized taking of another person’s property.”

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains