National Discount Brokers Group, Inc. rose 14 1/2 to 45 1/2 Tuesday after the company reported that earnings and revenue for the just-completed quarter would “substantially exceed” analysts’ forecasts. The company credited the booming stock market and the success of its online brokerage unit, NDB.com.
NDB said it expects to report earnings of 95 cents to $1.05 a share on revenue of $125 million to $135 million in the quarter. Analysts were looking for earnings of about 14 cents a share, according to Zacks Investment Research.
NDB.com, which has some 200,000 customer accounts, recently announced an agreement with Yahoo!, which displays the NDB site in its finance section.