ETFC - E*TRADE Financial Corporation

NasdaqGS - NasdaqGS Real-time price. Currency in USD
48.52
-1.86 (-3.69%)
At close: 4:00PM EST

48.65 +0.13 (0.27%)
After hours: 7:58PM EST

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Previous close50.38
Open50.55
Bid48.20 x 1100
Ask50.75 x 900
Day's range48.17 - 50.96
52-week range34.68 - 57.30
Volume7,083,142
Avg. volume3,901,131
Market cap10.731B
Beta (5Y monthly)1.18
PE ratio (TTM)12.60
EPS (TTM)3.85
Earnings date14 Apr 2020 - 19 Apr 2020
Forward dividend & yield0.56 (1.05%)
Ex-dividend date23 Feb 2020
1y target est53.62
  • Business Wire

    E*TRADE Announces an Alliance With Empower Retirement to Deliver an Integrated Stock Plan and Retirement Benefits Experience

    E*TRADE Financial Corporate Services, Inc. today announced a strategic relationship with Empower Retirement, a retirement plan services provider, to give participants a more holistic view of their retirement savings and stock plan account.

  • E*TRADE's (ETFC) Ratings Under Review for Upgrade by Moody's
    Zacks

    E*TRADE's (ETFC) Ratings Under Review for Upgrade by Moody's

    Moody's Investors Service keeps ratings under review for upgrade of E*TRADE (ETFC) and E*TRADE Bank, following its acquisition announcement with Morgan Stanley (MS).

  • Startups Weekly: What the E-Trade deal says about Robinhood
    TechCrunch

    Startups Weekly: What the E-Trade deal says about Robinhood

    How well do Robinhood's financials stack up against incumbent online brokerages? While we wait for the seven-year-old company's long-planned IPO, Alex Wilhelm examined Morgan Stanley's big $13 billion purchase of E-Trade for fresh data comparison points. Robinhood has 10 million accounts — twice what E-Trade has — but it also appears to make much less money per user and has far fewer assets under management, as he covered for Extra Crunch.

  • Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal
    Reuters

    Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal

    On Thursday, Morgan Stanley entered into a deal to buy E*Trade, the biggest acquisition by a major Wall Street bank since the 2007-2009 financial crisis. E*Trade has been the subject of M&A speculation for some time, especially after Charles Schwab Corp said it would buy TD Ameritrade Holding Corp last year. If Morgan Stanley terminates the deal due to antitrust issues, E*Trade would receive $525 million, Morgan Stanley said in a regulatory filing https://www.sec.gov/ix?doc=/Archives/edgar/data/895421/000095010320003111/dp121716_8k.htm.

  • Stock Market News for Feb 21, 2020
    Zacks

    Stock Market News for Feb 21, 2020

    Benchmarks ended lower on Thursday, as investors nervously moved through equities amid heightened fears over the rising Coronavirus cases.

  • Morgan Stanley (MS) to Acquire E*TRADE (ETFC) for $13 Billion
    Zacks

    Morgan Stanley (MS) to Acquire E*TRADE (ETFC) for $13 Billion

    Morgan Stanley's (MS) recently-announced acquisition with E*TRADE Financial (ETFC) reflects the companies' strategic efforts for business expansion, unlocking growth opportunities.

  • Morgan Stanley Ignites Banking Takeover Buzz With Gorman’s Deal
    Bloomberg

    Morgan Stanley Ignites Banking Takeover Buzz With Gorman’s Deal

    (Bloomberg) -- It was hard for James Gorman to contain his exuberance.The chief executive officer of Morgan Stanley had just ended a decade-long drought of major takeovers by top U.S. banks with his surprise deal to buy E*Trade Financial Corp. for $13 billion. Across the industry, where it’s long been taboo to get “too big,” speculation was erupting that conditions had finally lined up for a wave of similarly hefty acquisitions.So when analysts asked how it all came together, the normally staid CEO paused for a moment.“I’ve just strained my vocal cords with all the excitement,” Gorman said on a conference call Thursday. “I must have been screaming from the rooftops or something.”Morgan Stanley’s announcement is being interpreted by analysts, investors and investment bankers as just the start of a long-predicted series of deals big enough to reshape the upper echelons of the U.S. financial industry. Many of the largest banks are wielding highly valued stock at a time that Silicon Valley innovators are looking to wrest away business. Mergers and acquisitions are one way for banks to both scale up and adapt.“The financial performance of the industry allows acquirers to transact from a position of strength,” said Anu Aiyengar, co-head of global M&A at JPMorgan Chase & Co. “More broadly, digital disruption is making it more important to optimize cost and efficiency.”Some observers also point to the prospect that regulation may stiffen after U.S. elections in November if a Democrat wins the presidency. The field of candidates seeking to challenge Donald Trump includes several who have vowed to rein in -- or even break up -- “too big to fail” banks.More than 40% of top bank executives said in a November study by EY that they planned to actively pursue a deal in the following 12 months. Roughly one-fifth of those executives said they’d use a merger to improve their talent pool, while others said they’d use it to enter new markets. They will have to announce any significant takeovers soon to clear regulatory hurdles and complete transactions by the start of 2021, or potentially take their chances with a new administration.‘Big Chance’Gorman had eyed the online retail brokerage for almost 20 years before everything lined up. For Morgan Stanley, the all-stock deal lands E*Trade’s direct-to-consumer digital capabilities as well as $360 billion of client assets. Gorman reassured analysts that his firm is already conferring with regulators -- such as the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. -- to win approval for the deal.“We wouldn’t be entering into this if we didn’t think, from a regulatory perspective, this would be viewed favorably,” Gorman said. “That’s not something we would put to big chance.”In recent years, regional lenders have made most of the transformational deals in U.S. banking as they try to bulk up to improve earnings, weather the impact of low interest rates on margins and fend off tech startups. Last year saw the combination of SunTrust Banks Inc. and BB&T Corp., which emerged as Truist Financial Corp., the sixth-largest U.S. commercial bank.While Gorman said he still sees E*Trade as a so-called bolt-on acquisition, the price is significantly larger than the takeovers the largest banks have emphasized in recent years to augment business lines. It may open the way for rivals to seek larger targets too.“It’s all about growth,” said Julien Courbe, PwC’s financial services advisory leader in New York. “A lot of the banks have addressed their cost structure and continue to do so, but they are looking to get volume and scale, and that’s forcing considerations for deal activity.”Other IndustriesMatchmakers have proposed a wide variety of large takeovers by big U.S. banks over the past decade only to be disappointed. Some suggested, for example, that credit-card lender Discover Financial Services could make a juicy target for a variety of large consumer banks. Reuters Breakingviews floated the idea two years go that Goldman Sachs Group Inc. should buy Bank of New York Mellon. When ValueAct Capital Management later bought a stake in Citigroup Inc., analysts suggested the activist fund could push the bank to buy another of its holdings, Alliance Data Systems. The deals never materialized.It’s not just banks seeking to grow through mergers and acquisitions. The two biggest U.S. life insurers, MetLife Inc. and Prudential Financial Inc., are both open to acquisitions even as they seek to divest in slower-growth areas. Both firms struck deals last year, with Prudential agreeing to buy a startup consumer platform for $2.35 billion, while MetLife acquired a pet insurance administrator and a digital estate planning service.Leaders of payments companies also have said they’re looking to participate in the industry’s consolidation. Mastercard Inc.’s CEO Ajay Banga compared his business development team to “gnomes in Santa’s shop” that bring him as many as 60 deals in a year to consider. FleetCor Technologies Inc., a fuel card provider, has said it has a list of “big elephants” it hopes to bag.Wealth managers and robo-advisers are also appealing targets because of their relatively stable revenue, which can offset volatility from trading businesses. Goldman Sachs bought United Capital for $750 million last year, while Morgan Stanley beefed up its wealth division by buying stock-plan administrator Solium Capital Inc. for $900 million.Buyers aren’t the only ones under pressure. Charles Schwab Corp.’s acquisition of TD Ameritrade Holding Corp. in November reshaped the brokerage industry and encouraged E*Trade to consider a sale. Goldman Sachs Group Inc. was among firms that also took at least a cursory look at E*Trade before giving it a pass, according to people with knowledge of the matter.“Frankly, if I’m on the E*Trade board I’m certainly feeling a sense of urgency to find a buyer,” Thomas Bradley, the former president of TD Ameritrade, said at the time.Still, Gorman cautioned that it’s unlikely that the biggest banks will try to pull off transformational deals. They will instead stick to targets that add capabilities or round out businesses. And not every firm, he noted, has the means to shop.“You’ve got to be in the condition to do it, your stock has to reflect the value of the company, you have to have momentum that investors want to see,” Gorman said in an interview on Bloomberg Television. “But these bolt-on acquisitions. Listen, if they make sense? Absolutely.”\--With assistance from Sridhar Natarajan and Sonali Basak.To contact the reporters on this story: Jenny Surane in New York at jsurane4@bloomberg.net;Lananh Nguyen in New York at lnguyen35@bloomberg.net;Nabila Ahmed in New York at nahmed54@bloomberg.netTo contact the editor responsible for this story: Michael J. Moore at mmoore55@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • E*Trade Deal Highlights Tech-Driven Change Felt in Many Markets
    Bloomberg

    E*Trade Deal Highlights Tech-Driven Change Felt in Many Markets

    (Bloomberg) -- Morgan Stanley’s $13 billion deal to acquire E*Trade Financial Corp. is driven in part by the bank’s need to meet equity investors’ demands for the latest technology and digital trading tools -- and the same forces are reshaping the fixed-income market.A report released Thursday by Greenwich Associates found an appetite for “new and better digital products and tools” among fixed-income investors is fueling competition at banks. Kevin McPartland, head of market structure and technology research at Greenwich, said the elimination of trading commissions by many firms including Charles Schwab Corp. has freed investors to choose a brokerage based on services alone.“A lot of it is based on the tools you provide to the end-user, and I’m not sure the institutional market is much different any more,” he said in an interview. “Compute power is effectively limitless at this point.”In earlier research, Greenwich asked investors how they choose a top-tier bank, and 18% of respondents said technology services like execution algorithms and analytics were a factor. Breakthroughs in artificial intelligence, machine learning and the ability to mine huge pools of data have radically changed investing, McPartland said.The E*Trade deal, announced Thursday, helps Morgan Stanley add clients who are less wealthy than its traditional customers, but a state-of-the-art platform for investors was another draw. Morgan Stanley Chief Executive Officer James Gorman cited E*Trade’s “innovation in technology” as a reason for the acquisition, according to a statement.\--With assistance from Sridhar Natarajan.To contact the reporter on this story: Matthew Leising in Los Angeles at mleising@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, Josh FriedmanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Stock market news live: Stocks end lower but pare some losses after intraday selloff
    Yahoo Finance

    Stock market news live: Stocks end lower but pare some losses after intraday selloff

    Headlines moving the stock market in real time.

  • Morgan Stanley To Acquire E*Trade: MS Buying Opportunity?
    Zacks

    Morgan Stanley To Acquire E*Trade: MS Buying Opportunity?

    Morgan Stanley's move was unexpected by some, but E*Trade fits in the firm's steps towards more reliable revenue streams

  • Trading Options on Takeover Deals
    Zacks

    Trading Options on Takeover Deals

    Trading Options on Takeover Deals

  • Morgan Stanley, E-Trade merger underscores race for scale in financial services
    Yahoo Finance

    Morgan Stanley, E-Trade merger underscores race for scale in financial services

    Analysts say the Morgan Stanley and E-Trade tie-up is a matter of survival in a brokerage industry crushed by technology-driven trends in retail investing.

  • Why is Morgan Stanley Buying E-Trade?
    Zacks

    Why is Morgan Stanley Buying E-Trade?

    Investment bank Morgan Stanley (MS) is acquiring brokerage firm E-Trade (ETFC) for $13 billion.

  • Morgan Stanley to Buy E-Trade, Q4 Earnings & A New Cheap Strong Buy Stock - Free Lunch
    Zacks

    Morgan Stanley to Buy E-Trade, Q4 Earnings & A New Cheap Strong Buy Stock - Free Lunch

    Morgan Stanley and E-Trade merger. We then dive into some quarterly earnings results from the likes of Avis Budget Group. The episode then closes with a dive into why Everi Holdings Inc. (EVRI) is a Zacks Rank 1 (Strong Buy) stock right now...

  • Morgan Stanley Bets E*Trade Will Dodge the Dean Witter Jokes
    Bloomberg

    Morgan Stanley Bets E*Trade Will Dodge the Dean Witter Jokes

    (Bloomberg) -- Morgan Stanley’s merger a quarter century ago with a brokerage that had branches in Sears was met with sneers. Wall Streeters joked it was a deal combining white shoes with white socks.But with the painful Dean Witter Discover deal now ancient history, the firm is taking another stab at luring mom-and-pop investors: a $13 billion acquisition of E-Trade Financial Corp., the discount brokerage that shot to prominence in the day-trading heyday of the 1990s.Like his predecessors, Chief Executive Officer James Gorman is using mergers to reshape the bank for a daunting new era. Morgan Stanley’s tie-up with Dean Witter Discover in 1997 was followed by the purchase of Smith Barney in 2009, a deal that cemented its pivot to managing people’s money as a source of growth.“I worked for a guy who used to say there is no birth without blood and pain,” former CEO Phil Purcell, who left Morgan Stanley in 2005, said in an interview. “Dean Witter was painful. Smith Barney was very painful. It was also the right strategic move.”And the roughly 30% premium Morgan Stanley is dishing out for E*Trade?“They are paying a premium for a company that is a fraction of market value,” the 76-year-old former CEO said. In 1999, “there were people who were gods on Wall Street at the time saying we should acquire Charles Schwab. That would have been a catastrophe,” he said, referring to Schwab’s valuation relative to Morgan Stanley.“Everything James Gorman has done has been right,” Purcell said.Big financial companies are in a race to lure small investors with digital services that many view as the industry’s future. Goldman Sachs Group Inc. is making its first forays into the world of retail finance, and even itself considered a deal with E*Trade before giving it a pass, according to a person with knowledge of the matter.Skeptical InvestorsMorgan Stanley’s E*Trade takeover is the industry’s biggest since being saddled with regulations that crippled some of its signature businesses in the wake of the financial crisis. Gorman spent his first decade atop Morgan Stanley reshaping the white-shoe firm into a wealth-management colossus that’s tried to diminish its exposure to the vagaries of the trading and investment-banking operations that dominate Wall Street.Now he’s taking a leap into a digital-banking future that could draw in millions of customers and give Morgan Stanley a springboard to go international with new banking products.Investors and some analysts are still skeptical.“The plain old timing of this deal is not ideal,” Mike Mayo, an analyst at Wells Fargo & Co., said in a Bloomberg Television interview. “After seeing so many of these marriages go afoul, we have more of a skeptical hat on.”Shares of Morgan Stanley slumped as much as 4.4% after the deal was announced, though Gorman said he expects that decline to be short-lived.“We just bought a $13 billion business,” he said in an interview. “The fact that shares are down a few percent is not surprising. I don’t expect that to be a permanent state.”Digital DemandThe all-stock takeover adds E*Trade’s $360 billion of client assets to Morgan Stanley’s $2.7 trillion, the companies said Thursday in a statement. Morgan Stanley also gets E*Trade’s direct-to-consumer and digital capabilities to complement its full-service, advisory-focused brokerage.“Our clients increasingly want digital access and digital banking, and their clients want wealth-management advice,” Gorman said. “A number of stars aligned.”In reshaping the firm since the financial crisis, Gorman has been emphasizing Morgan Stanley’s wealth-management powerhouse. Purchasing E*Trade helps him add clients who are less wealthy than its traditional customers. The New York-based company has lost some business to the retail brokerages in recent years as those firms invested heavily in their web platforms.Upheaval in the retail-brokerage industry also helps explain the timing. In early October, Charles Schwab Corp. eliminated commissions for U.S. stock trading, spurring other brokerages to follow suit and sweeping away an important revenue stream.The following month, Schwab agreed to buy rival TD Ameritrade Holding Corp. for about $26 billion and create a mega-firm with $5 trillion in assets, forcing smaller brokerages like E*Trade to contend with a much more formidable competitor.\--With assistance from Nabila Ahmed, Yalman Onaran, Vonnie Quinn and Guy Johnson.To contact the reporter on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Spotlight turns to Goldman Sachs after Morgan Stanley deal
    Reuters

    Spotlight turns to Goldman Sachs after Morgan Stanley deal

    For months, the watercooler chatter around big Wall Street banks focused on whether Goldman Sachs Group Inc would finally pursue a major deal. Instead, Goldman's top rival beat it to the punch. On Thursday, Morgan Stanley said it plans to acquire E*Trade Financial Corp for $13 billion, cementing its position as a hub where individuals manage their finances.

  • Stock market dives — a 20% plunge in some hot stocks could be next
    Yahoo Finance

    Stock market dives — a 20% plunge in some hot stocks could be next

    The market is long overdue for a major correction, say veteran strategists.

  • Daily Crunch: Twitter threads are getting easier
    TechCrunch

    Daily Crunch: Twitter threads are getting easier

    Twitter is rolling out a "continue thread" button, ViacomCBS has big plans for its streaming service and Morgan Stanley acquires E-Trade. Twitter is adding a new feature for mobile users to make it easier to link dispersed tweets together. Per 9to5Mac, the feature — which Twitter tweeted about yesterday — is slowly rolling out to its iOS app.

  • Reuters - UK Focus

    GLOBAL MARKETS-Dollar tramples yen and safe-haven status, gold gains

    The strong dollar got stronger on Thursday, rising to a three-year high against a basket of trading partner currencies, after a steep slide in the Japanese yen called into question its safe-haven status while the rally in U.S. equities took a pause. Gold prices hit their highest level in seven years as investors sought safe-haven assets after a rise in the number of new coronavirus cases in South Korea and the price of oil rose, supported by China's efforts to bolster its virus-weakened economy. The dollar has surged almost 2% since Tuesday against the yen, reaching its highest in almost 10 months, and the greenback climbed to near three-year highs against the euro.

  • Bloomberg

    James Gorman Sees a Few More Years at Morgan Stanley With E*Trade Deal

    (Bloomberg) -- Morgan Stanley’s $13 billion purchase of E*Trade Financial Corp. might start the clock on Chief Executive Officer James Gorman’s departure.“I want to see this thing get done, I want to see it get implemented and I’ll be around for a few years to see that happen,” Gorman, 61, said Thursday in an interview with Bloomberg Television. “But the future is not me after a few years, it’s the next team. Which it should be.”Gorman, who’s led Morgan Stanley since 2012, has overseen a massive expansion in wealth management, which provides more stable revenue than the bank’s trading and investment-banking units. Last year he engineered Morgan Stanley’s $900 million purchase of Solium Capital Inc., a company that administers stock plans.Purchasing E*Trade will bring in clients who are less wealthy than the company’s traditional customers after the firm lost business to retail brokerages, which have been investing heavily in their digital platforms. Morgan Stanley said it expects to complete the all-stock deal in the fourth quarter.In a wide-ranging interview, Gorman also said:He preferred to buy E*Trade -- a company he said has “real clients” and “real revenues” -- over competitors such as Robinhood Financial LLC.Morgan Stanley can use some of the technology it’s developed to improve its equities-trading business to also bolster E*Trade’s trading platform.The E*Trade deal will change the culture of Morgan Stanley “less than you think.” The CEO drew comparisons to Morgan Stanley’s own stock-plan and wealth-management businesses.To contact the reporters on this story: Jenny Surane in New York at jsurane4@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Steven CrabillFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Two Major Takeover Bids Hit Wall Street
    Zacks

    Two Major Takeover Bids Hit Wall Street

    Two Major Takeover Bids Hit Wall Street.

  • Bloomberg

    Morgan Stanley Targets Young Money With E*Trade

    (Bloomberg Opinion) -- Morgan Stanley is trading in its white shoes for Converse Chuck Taylors.That’s the initial impression on Wall Street at least after the bank announced Thursday that it had agreed to buy discount brokerage E*Trade Financial Corp. for $13 billion in an all-stock takeover, the biggest acquisition by a large U.S. bank since the financial crisis. It would add E*Trade’s $360 billion of client assets to Morgan Stanley’s $2.7 trillion and instantly give the bank more direct access to consumers through digital banking and brokerage services. While the two brands would remain distinct under the arrangement, it seems on its face like a match between two companies with polar opposite reputations.Now, it was hardly a secret that Chief Executive Officer James Gorman has been emphasizing wealth management as Morgan Stanley’s future, largely because the revenue is more dependable than high-stakes trading. In the firm’s second-quarter earnings call last July, when the wealth-management division posted a 28% profit margin, Gorman was asked how he could possibly sustain that pace. He insisted “we’re playing for the long run.”The long run, it turns out, involves going where Morgan Stanley has rarely opted to go before: down-market. “It is so off-brand for the white-shoe investment bank Morgan Stanley, I’m just stunned,” David Bahnsen, founder of wealth-management firm the Bahnsen Group, who used to work at Morgan Stanley, said on Bloomberg TV.  I’m not so sure it should come as much of a surprise. After all, there were rumors toward the end of last year that Goldman Sachs Group Inc. was contemplating an acquisition of E*Trade on top of its other retail-client initiatives like its consumer bank, Marcus. Yes, Goldman and Morgan Stanley are probably the two Wall Street titans most associated with catering to the wealthiest and most financially savvy. But they’re also astute enough to see which way the winds are blowing for the industry: Technology is democratizing the way people invest, save and trade.As Gorman sees it, that trend is especially true for the “next generation.” In a conference call, he summarized his vision by saying that E*Trade gives Morgan Stanley access to people with what he called “emerging wealth.” By getting them into the fold early, Gorman expects they’ll move over to the bank’s existing wealth-management offerings once they accumulate more money and need a robust financial plan. He said that even now, clients and their children only want to interact with the bank digitally, so E*Trade provides a better way for that to happen. “We’re not messing around,” he said.E*Trade also stands to benefit from standing underneath Morgan Stanley’s umbrella. After Charles Schwab Corp. slashed commissions for U.S. stock trading to zero in October, E*Trade had little choice but to follow suit. Unsurprisingly, smaller fees means compressed profit margins. The race to the bottom was due in part to the rise of Robinhood Financial LLC, which said it had more than 10 million accounts as of December. About a week earlier, CNBC’s Jim Cramer claimed that Robinhood had turned E*Trade into a dinosaur.Powered by Morgan Stanley, E*Trade will almost certainly avoid extinction. E*Trade shares soared 24% and Morgan Stanley’s dipped 4.1% at the start of trading. The deal should close in the fourth quarter — nothing about the transaction seems like a glaring issue for regulators. The one wild card would be a rival bid, but Bloomberg Intelligence’s David Ritter considers that “unlikely” because of the already steep premium.Plus, it seems as if the two CEOs are already becoming fast friends. Mike Pizzi, E*Trade’s recently appointed leader who’s in his mid-40s, joked on the conference call that the companies’ cultures are similar, apart from the dress code. Gorman piggybacked off that by noting that when they got together, Pizzi asked whether he owns a pair of jeans (Gorman said he does).Maybe some Converse shoes will be next. To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Morgan Buys E*TRADE, Victoria's Secret Sold
    Zacks

    Morgan Buys E*TRADE, Victoria's Secret Sold

    Shares of E*TRADE are up 25% in today's pre-market, while L Brands are selling off 10% on fresh M&A news.

  • Morgan Stanley CEO has been tracking E-Trade for close to 20 years
    Yahoo Finance

    Morgan Stanley CEO has been tracking E-Trade for close to 20 years

    Morgan Stanley CEO James Gorman has been eyeing E-Trade for years.

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