Earnings are rolling in on this fine Tuesday morning, with many companies reporting. One of those is TD Ameritrade (NASDAQ: AMTD), which stepped into the earnings spotlight and reported fourth-quarter earnings of 26 cents per share, topping the consensus estimate by four cents per share. Quarterly revenue came in at $657.9 million, which is 1.3% better than a year ago. Looking ahead, the online brokerage forecast full-year 2010 earnings to come in between $1.10 and $1.40 per share. The consensus estimate for fiscal 2010 is $1.05, so the shares could see a bit of a boost on the forecast. AMTD's quarterly earnings fell 8.8% compared to a year earlier, but the company did post new highs in average client trades per day and new net assets.
Technically, shares of the brokerage are well positioned to take advantage of the earnings news. The stock is in the process of rebounding off the $19 level and its 10-week moving average. AMTD has cruised higher along this trendline (and its 20-week counterpart when needed) since the beginning of March. It does appear that the $20.50 level could provide a bit of resistance, as it did in late 2007 and during September 2008.
Let's see if investors decide to focus on the company's revenue and earnings drop from a year ago, or if they will focus on AMTD's 2010 forecast.
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