Schwab is buying back a chunk of its stock as TD sells its 10% stake - MarketWatch
1. TD Bank is selling its 10.1% stake in Schwab. 2. The sale involves 184.7 million shares through a secondary offering. 3. TD Bank plans to repurchase its own stock with proceeds. 4. Schwab's stock fell 3% post-announcement due to increased share availability. 5. Overall, TD's stake in Schwab reduced from 12.3% to 10.1%.