Key Developments: E*TRADE Financial Corp (ETFC.O)

ETFC.O on Nasdaq

23.52USD
22 Sep 2014
Price Change (% chg)

$-0.21 (-0.88%)
Prev Close
$23.73
Open
$23.70
Day's High
$23.72
Day's Low
$23.11
Volume
3,206,541
Avg. Vol
3,265,849
52-wk High
$25.58
52-wk Low
$15.54

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Latest Key Developments (Source: Significant Developments)

Citadel, Virtu, Two Sigma, Rgm Bid For E*Trade Financial Corp-Reuters
Wednesday, 28 Aug 2013 03:29pm EDT 

Reuters reported that Citadel LLC, Virtu Financial, Two Sigma and RGM Advisors are among the companies bidding for E*Trade Financial Corp's market-making unit in a deal expected to be worth $100 million to $200 million. An E*Trade spokesman declined to comment. Citigroup is overseeing the sale. Citigroup, Citadel and RGM declined to comment. Spokespeople at Virtu and Two Sigma were not immediately available to comment.  Full Article

Law Firm of Wohl & Fruchter LLP Announces Investigation of E*Trade Financial Corp
Wednesday, 7 Aug 2013 03:11pm EDT 

The law firm of Wohl & Fruchter LLP announced that it is investigating possible violations of federal securities laws by officers and directors of E*Trade Financial Corp (ETRADE). On August 6, 2013, ETRADE disclosed in a Form 10-Q filing with the Securities & Exchange Commission (SEC) that, on July 11, 2013, the Financial Industry Regulatory Authority (FINRA) advised the Company that it was investigating the order routing practices of two of the Company`s units - E*Trade Securities LLC and G1 Execution Services LLC. In connection with the disclosure, ETRADE stated that regulators "may initiate investigations into the company`s historical practices which could subject it to monetary penalties and cease-and-desist orders . . . prompt claims by customers of E*Trade Securities LLC . . . [and] materially and adversely affect the company`s broker-dealer businesses. Since the above news, ETFC shares have dropped over 3% during trading on August 7, 2013.  Full Article

E*Trade Financial Corp Announces Additions To Leadership Team
Tuesday, 30 Apr 2013 04:05pm EDT 

E*Trade Financial Corp announced two additions to its executive leadership team. Navtej S. Nandra will join as President, effectively immediately. Liza Landsman will join as Chief Marketing Officer by the end of May.  Full Article

E*Trade Financial Corp Announces Secondary Offering Of 27,394,448 Shares Of Common Stock By Affiliate Of Citadel LLC
Wednesday, 13 Mar 2013 04:52pm EDT 

E*Trade Financial Corp announced that Citadel Equity Fund Ltd., an affiliate of Citadel LLC, plans to offer 27,394,448 shares of E*TRADE`s common stock in an underwritten offering. The closing of the offering is expected to occur on or about March 19, 2013, subject to customary closing conditions. E*TRADE will not receive any proceeds from the sale of common stock by the selling stockholders in the offering, and its total number of common shares outstanding will not change as a result of the offering. Citigroup will be the sole underwriter of this offering. Citigroup proposes to offer the shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.  Full Article

E*Trade Financial Corp Names Rodger A. Lawson As Chairman
Friday, 8 Mar 2013 08:05am EST 

E*Trade Financial Corp announced that Board of Directors intends to appoint Rodger A. Lawson as Chairman to replace Frank J. Petrilli immediately following the 2013 Annual Meeting of Stockholders, subject to the re-election of Mr. Lawson at the Annual Meeting. Mr. Petrilli, who has served as Chairman since January 2012 and also as Interim CEO of the Company from August 2012 through January 2013, advised the Board that he does not wish to stand for re-election. Mr. Petrilli will remain a director until the Annual Meeting of Stockholders, scheduled for May 9, 2013.  Full Article

E*Trade Financial Corp Appoints Paul T. Idzik As Chief Executive Officer
Thursday, 17 Jan 2013 04:05pm EST 

E*Trade Financial Corp announced that its Board of Directors has appointed Paul T. Idzik Chief Executive Officer, effective January 22, 2013. Interim CEO Frank J. Petrilli, who has served since August, 2012, will continue as Chairman. Rodger A. Lawson will step down as Lead Independent Director, a role he has served since August 2012, but will remain on the Board. Mr. Idzik was also named President of E*TRADE Bank, and will serve on the Company`s and E*TRADE Bank`s Boards of Directors.  Full Article

E*Trade Financial Corp Announces Pricing Of Senior Notes
Tuesday, 6 Nov 2012 05:29pm EST 

E*Trade Financial Corp announced that it has priced an offering of $1,305 million in aggregate principal amount of Senior Notes in two tranches, issued at par. The first tranche of $505 million aggregate principal amount of Senior Notes due 2017 will bear interest at an annual rate of 6.000% and are callable beginning November 15, 2014. The second tranche of $800 million aggregate principal amount of Senior Notes due 2019 will bear interest at an annual rate of 6.375% and are callable beginning November 15, 2015. E*TRADE expects to close the sale of the notes on November 14, 2012. E*TRADE will use the net proceeds from the sale of the notes to redeem all of its outstanding 12.500% Springing Lien Notes due 2017 and all of 7.875% Senior Notes due 2015 for an aggregate redemption price of $1,305 million, which includes the associated redemption premiums, principal amount, accrued interest and related fees and expenses. BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley are serving as joint lead book-runners for the offering.  Full Article

DIARY-U.S. MEETINGS/WEEK AHEAD

THOMSON REUTERS, June 12,2014 - Corporate Meetings for US companies for Week ahead. S&P 500 Earnings - Weekly S&P 500 Earnings - Day Ahead Non S&P 500 - Weekly Non S&P 500 - Day Ahead ConferenceCall/Webcast - Weekly ConferenceCall/Webcast - Day S&P 500 Earnings - Monthly Meetings - Day Ahead Economic Indicators Dividends Daily earnings hits & misses Federal Res

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