In addition to the huge Investments Firms I covered in an earlier post, there were 17 US Security Broker/Investment Advice Corps, with Pretax Income of more than $100 mil in either the 4Q 2011 or the 4Q 2010, as you can see in the below chart.
..........................................4Q............4Q.........Increase
........................................2011.........2010.....(Decrease)
.........................................PTI............PTI...Amount......%
........................................(in millions of dollars)......
BlackRock........................815............958......(143)....-15%
Franklin Resources..........695............698..........(3).......0%
Invesco Ltd.....................386............212........174.......82%
CME Group......................370...........427........(57).....-13%
Ameriprise Financial.......352............368........(16)......-4%
T Rowe Price...................298............307.........(9)......-3%
Charles Schwab(1)...........252............353......(101)....-29%
TD Ameritrade................221............223..........(2)......-1%
IntercontlExchange........184............150..........34......23%
Nasdaq OMX(2)...............164............148..........16......11%
Interactive Brokers.........156..............42........114....271%
NYSE Eronext(3).............134............140.........(6)......-4%
Affiliated Managers.........109............146........(37)....-25%
Raymond James Fincl.....105............127........(22)....-17%
Jefferies Group.................71............124........(53)....-43%
Janus Capital...................62.............100........(38)....-38%
Lazard Ltd......................(15)............132......(147)...-111%
Total all 17..................4,359.........4,655......(296).....-6%
(1) Charles Schwab 2010 PTI excludes Class Action Litigation Charge.
(2) Nasdaq OMX Group 2011 PTI excludes Asset Impairment Charge and Debt Extinguishment Charge.
(3) NYSE Euronext 2011 PTI excludes BlueNext Tax Settlement Charge.
Yeah, 13 of these 17 US Big Security Broker/Investment Advice Corps had down earnings in the 4Q 2011. And their Total Pretax Income was down 6% in the 4Q 2011.
In an earlier post on the US Big 9 Financial Corps which dominate, there are 5 of them which have substantial brokerage and investment operations. Here are their 4Q 2011 Pretax Income, as compared with that in the 4Q 2010.
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.........................................PTI...........PTI.....Amount........%
........................................(in millions of dollars)......
JP Morgan Chase............4,747.......7,012....(2,265).......-32%
Citigroup........................1,364........1,060.........304........29%
Morgan Stanley(1)..........1,285.........1,191...........94..........8%
Goldman Sachs...............1,247........3,474.....(2,227).....-64%
Merrill Lynch(2)...........(2,462)...........111.....(2,573)..-2418%
Total all 5........................6,181......12,848.....(6,667)......-52%
(1) Morgan Stanley 2011 PTI excludes Loss related to MBIA Settlement.
(2) Merrill Lynch is part of Bank of America, but it also files separately with the SEC.
Clearly, US Republican Congress obstinance put a strangle hold on the US economy in 4Q 2011, causing a significant downturn in US consumer confidence and much increased US business uncertainty, thereby hampering the performance of these US Big Security Broker/Investment Advice Corps.
One of these days, the big business community is going to finally figure out that the Obama Administration has been much better for them than have the economically damaging actions of the US Republicans supposedly acting on their behalf in the US Congress.
