TD Ameritrade fiscal 3Q jumps 23 CEO to leave next year

OMAHA, Neb. — Online brokerage TD Ameritrade Holding Corp. reported Monday that its fiscal third-quarter earnings jumped 23% and said it’s searching for a new CEO.The Omaha, Nebraska-based company said that it earned $555 million, or $1 per share, in the quarter. That’s up from $451 million net income, or 79 cents per share, a year ago.When adjusted for one-time gains and costs, Ameritrade earned $1.04 per share, which topped Wall Street expectations.The seven analysts surveyed by Zacks Investment Research expected earnings of 97 cents per share.Ameritrade’s current CEO Tim Hockey said Monday he has decided to leave the firm in February.“In discussing the best path forward, the board and I decided that it was time for a new CEO to lead the company,” Hockey said.He declined to say exactly why he and the board decided that, but he said he is not leaving for another job or to spend more time with family.Hockey agreed to stay that long to help with the transition after a search for the new chief executive is conducted.Hockey has led TD Ameritrade since the fall of 2016 and oversaw the integration of rival Scottrade after that acquisition.The online brokerage said its revenue grew 8% to $1.49 billion. The four analysts surveyed by Zacks expected $1.46 billion.Ameritrade’s asset-based fees helped generate enough revenue growth to offset a slight decline in its trading-based revenue.TD Ameritrade shares slipped 30 cents to $52.10 in after-market trading following the release of the earnings report._____Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMTD at https://www.zacks.com/ap/AMTDJosh Funk, The Associated Press read more

Urgent visit to Uzbekistan requested by UN expert on arbitrary executions

In a statement issued in Geneva, Philip Alston, the UN Commission of Human Rights’ Special Rapporteur dealing with extrajudicial, summary or arbitrary executions made the urgent request to assess the situation, indicating that he was “gravely concerned about reports that hundreds of people, including women and children, were killed on 13 May when Government troops fired indiscriminately to disperse a demonstration in Andijan.”The New York University law professor also stated that he was particularly troubled by reports that the measures had been connected to efforts to eliminate terrorists.“Quite apart from the need to distinguish political opponents from terrorists, the point is that governments are clearly obligated to address any such situations within a framework clearly governed by human rights law,” he said.Mr. Alston echoed the call of UN High Commissioner for Human Rights Louise Arbour for the Government to establish an independent commission of inquiry into the incidents, but he noted that his visit was also an essential part of an effective and comprehensive response by the Government.The statement said that a visit to Uzbekistan would enable the Special Rapporteur to speak with all those involved in the recent events and to formulate positive recommendations to support efforts to end impunity for human rights violators in accordance with international standards.Ms. Arbour’s spokesman said indications were that the President of Uzbekistan, Islam Karimov, would not welcome an international investigation at this time. He said the High Commissioner hoped that Mr. Karimov could be persuaded to see the interest that the people of Uzbekistan and the international community have in setting the record straight on the recent events in that country. read more