Edition:
United States

E*TRADE Financial Corp (ETFC.O)

ETFC.O on Nasdaq

24.99USD
25 Jul 2016
Change (% chg)

-- (--)
Prev Close
$24.99
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
3,304,030
52-wk High
$30.98
52-wk Low
$19.61

Latest Key Developments (Source: Significant Developments)

E*Trade to buy OptionsHouse for $725 mln
Monday, 25 Jul 2016 07:55am EDT 

E:Trade Financial Corp : . E.Trade announces acquisition of OptionsHouse . Deal for $725 million . Intends to finance transaction through issuance of up to $400 million of non-cumulative perpetual preferred stock . Expects transaction to be relatively neutral to earnings in 2017 and accretive in 2018 . Full run-rate synergies of approximately $65 million annually are expected in 2018 .Along with $400 million of non-cumulative perpetual preferred stock, remaining balance of deal value to be paid in cash.  Full Article

E*TRADE Financial Q2 earnings per share $0.48
Thursday, 21 Jul 2016 04:05pm EDT 

E:TRADE Financial Corp . As of June 30, 2016, consolidated Tier 1 leverage ratio was 7.5 percent versus 7.8 percent in previous quarter end . Benefit to provision for loan losses of $35 million, compared to benefit of $34 million in previous quarter . Announces second quarter 2016 results . Q2 earnings per share $0.48 . E.TRADE reported DARTs of 152,000 during quarter, a decrease of eight percent from prior quarter . Q2 earnings per share view $0.38 -- Thomson Reuters I/B/E/S . Company ended quarter with 3.3 million brokerage accounts, an increase of 23,000 from prior quarter . Qtrly total net revenue $474 million versus $445 million .Allowance for loan losses ended quarter at $293 million, down from $322 million in prior quarter.  Full Article

E*TRADE Financial Corp reports monthly activity for May 2016
Monday, 13 Jun 2016 04:05pm EDT 

E:TRADE Financial Corp . E.TRADE Financial Corporation reports monthly activity for May 2016 . Daily average revenue trades for May were 149,475, a six percent decrease from April and a one percent decrease from year-ago period .Added 30,607 gross new brokerage accounts in May and ended month with about 3.3 million brokerage accounts, an increase of 8,448 from April.  Full Article

E-Trade offices raided, employees arrested for illegal trading - NY Post, citing sources
Friday, 20 May 2016 03:42pm EDT 

: E-Trade offices raided, employees arrested for illegal trading - NY Post, citing sources .E-Trade's Manila offices raided, equipment confiscated, and as many as 36 employees arrested in a raid by Philippines authorities last week - NY Post.  Full Article

E Trade customers were net sellers of about $0.2 bln in securities during April
Friday, 13 May 2016 08:05am EDT 

E:Trade Financial Corp . Customers were net sellers of approximately $0.2 billion in securities during month . Daily average revenue trades for April were 159,215, a one percent increase from march and a one percent increase from year-ago . Net new brokerage assets were negative $0.4 billion in April . Added 34,724 gross new brokerage accounts in April, ended month with about 3.3 million brokerage accounts, an increase of 10,866 from march . April bank-related cash and deposits decreased $0.1 billion, ending month at $5.3 billion . E.Trade financial corporation reports monthly activity for April 2016.  Full Article

E*TRADE Financial says $800 million share repurchase authorization
Thursday, 19 Nov 2015 08:00am EST 

E*TRADE Financial:Says $800 million share repurchase authorization.Says the authorization is effective immediately and extends through March 31, 2017.  Full Article

E*TRADE FINANCIAL Corp - U.S. says over 10 mln E*Trade, Scottrade customers had personal information compromised
Tuesday, 10 Nov 2015 01:34pm EST 

E*TRADE FINANCIAL Corp:U.S. attorney in Atlanta unveils new indictment against gery shalon, Joshua Samuel Aaron, "John Doe" in hacking case.Defendants are accused of hacking into computers of E * TRADE Financial Corp ETFC.O scottrade financial services.Defendants are accused of compromising personal information of more than 10 million E * Tradescottrade customers.  Full Article

E*TRADE Financial Corp announces leadership transition
Monday, 1 Jun 2015 04:05pm EDT 

E*TRADE Financial Corp:Says Chief Financial Officer Matthew J. Audette advised the Company of his decision to leave to accept a role with another company.Current Chief Risk Officer and E*TRADE veteran Michael A. Pizzi will assume the Chief Financial Officer role, effective June 16.  Full Article

E*TRADE Financial Corp announces pricing of senior notes
Monday, 2 Mar 2015 04:07pm EST 

E*TRADE Financial Corp:Amount of its 4.625 pct Senior Notes due 2023, issued at par. E*TRADE expects to close the sale of the notes on March 5, subject to the satisfaction of customary closing conditions.The notes will bear interest at an annual rate of 4.625 pct per year payable semi-annually, are callable beginning March 15, 2018, and mature on Sept 15, 2023.The notes will be E*TRADE's general unsecured senior obligations and rank equally with E*TRADE's other unsecured senior indebtedness.The notes will effectively rank junior to the Company's secured indebtedness to the extent of the collateral securing such indebtedness and structurally subordinated to all liabilities of the Company's subsidiaries.The notes will not be guaranteed by E*TRADE's subsidiaries.E*TRADE will use the net proceeds from this offering, along with $432 million of existing corporate cash, to redeem all of the outstanding $800 million aggregate principal amount of its 6.375 pct Senior Notes due 2019 pursuant to make-whole call.To pay the associated redemption premiums, accrued and unpaid interest, and related fees and expenses.This press release does not constitute a notice of redemption with respect to the 2019 Notes.The transaction will reduce the Company's corporate debt outstanding by $340 million.Says Morgan Stanley, J.P. Morgan, and Goldman, Sachs & Co. are serving as joint book-running managers for the offering. Credit Suisse and Wells Fargo Securities are serving as co-managers.  Full Article

E*TRADE Financial Corp announces reduction of corporate debt and public offering of new senior notes
Wednesday, 12 Nov 2014 07:30am EST 

E*TRADE Financial Corp:Plans to reduce its corporate debt outstanding by $400 mln, while simultaneously effecting refinance of existing notes to meaningfully extend its maturity profile.Specifically, the proposed transaction involves usage of about $460 mln of corporate cash, along with $540 mln from issuance of new notes, to redeem two tranches of existing debt and pay related redemption premiums.In addition, the company has established $200 mln revolving credit facility, which will initially remain undrawn, enhancing the company's liquidity position.Subject to market and other considerations, E*TRADE plans to offer $540 mln in aggregate principal amount of senior notes due 2022 in public offering.E*TRADE will use proceeds from this offering, along with about $460 mln of existing corporate cash, to redeem all of its outstanding 6.750 pct Senior Notes due 2016 and 6.000 pct Senior Notes due 2017 and to pay related redemption premiums.This press release does not constitute a notice of redemption with respect to the 2016 notes or 2017 notes.Enters into three-year, $200 mln senior secured revolving credit facility.The credit facility is secured by first priority pledges of the equity interests of certain of E*TRADE's domestic subsidiaries and pledges of certain inter company indebtedness.J.P. Morgan, Morgan Stanley, Credit Suisse, and Goldman, Sachs & Co. are serving as joint book-running managers for the offering.  Full Article

E*Trade to buy online brokerage OptionsHouse for $725 mln

July 25 E*Trade Financial Corp said on Monday it would buy the parent of online brokerage OptionsHouse for $725 million in cash.