The Charles Schwab Double Downgrade Is Having an Impact on Financials Today Brynn

Bertha Coons financials one of the worst performing sectors today being led to the downside in part by Charles Schwab those shares under pressure after a very rare double downgrade to underperform at Bank of America. Kerry Firestone made it one of her stock summit picks she can't be with us today but she has sent us a note that I want to read to you she says it's outperformed most financials perhaps the analyst being very price conscious although it still trades at a 16 PE on next year's earnings and concern is interest expense on deposits. Bertha Coons: "I think they must be overly worried given interest rates are coming down over the next few quarters"