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E*TRADE Financial Corporation

6/19/2013, 12:44 PM ET

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Wednesday, June 19, 8:20 AM Is it a one-month wonder or is trading activity materially picking up at the retail brokerages? E*TRADE (ETFC) reports a 15% monthly and 11% yearly increase in Daily Average Revenue Trades (DARTs) in May, a big change from recent reports which have seen annual declines. An update on the loan portfolio finds delinquencies off 14% in the two months ending on May 31. (PR) Comment! [Financials]
Monday, June 10, 10:10 AM Sheep to the slaughter or just late to an ongoing party? Outperformance from Charles Schwab (SCHW), TD Ameritrade (AMTD -0.2%), and E-Trade (ETFC -0.6%) may mean the ever-elusive sideline money is set to flood back into the market, Bloomberg claims. "It says something about an improvement of confidence among … retail investors and households," James Paulsen adds. In the interest of not counting the proverbial chickens, it's worth mentioning that ICI data show an outflow of $1.7B from domestic equity mutual funds in the week ended May 29. 1 Comment
Friday, April 19, 8:59 AM ISI upgrades E-Trade (ETFC) to Neutral from Cautious after Thursday's earnings. ETFC's "results were encouraging," analyst Brian Bedell says, adding that credit and earnings quality have improved while customer metrics and brokerage revenue were "reasonably good." Separately, Keefe, Bruyette upgrades the shares to Market Perform from Underperform. Price targets are $10 from ISIS and $9.50 for KB. Comment! [Financials]
Thursday, April 18, 4:44 PM More on E*Trade (ETFC) Q1 earnings: DARTs of 149K off 5% Y/Y. Commissions, fees, service charges of $164M off 5.2%. Net operating interest income of $241M off 7.3% Q/Q - net interest spread of 2.3% down from 2.38%. Loan portfolio of $10B, shrunk about 4.7% in Q1. Loan loss provision of $43M off 42% from Q4, but helped by a $13M settlement. Shares +0.8% AH. Earnings call at 5 ET. (PR) Comment! [Earnings, Financials]
Thursday, April 18, 4:11 PM E*TRADE (ETFC): Q1 EPS of $0.12 in-line. Revenue of $420M misses by $18.38M. Shares +3.3% AH. (PR) Comment! [Earnings, Breaking News, Financials, On the Move]
Thursday, April 18, 12:10 AM Notable earnings after Thursday’s close: ACTG, ALGN, AMD, BGS, CBST, CE, CMG, COF, CPHD, ETFC, GOOG, IBM, ISRG, LSCC, MSFT, RMBS, VMI, WIT Comment! [Earnings]
Wednesday, April 17, 5:35 PM Notable earnings after Thursday’s close: ACTG, ALGN, AMD, BGS, CBST, CE, CMG, COF, CPHD, ETFC, GOOG, IBM, ISRG, LSCC, MSFT, RMBS, VMI, WIT Comment! [Earnings]
Thursday, March 14, 10:29 AM More on E*Trade (ETFC -5.8%): Not only is 10% of the float a lot to throw on the market, but Citadel's exit from the remainder of its stake means the chance for a sale of the company has likely disappeared. Ken Griffin cut his stake to below 10% 2 years ago just to he could actively agitate for a sale. Comment! [Financials, On the Move]
Thursday, March 14, 9:15 AM Premarket gainers: MW +15%. EBIX +14%. ARWR +8%. BLDP +6%. FTE +6%.
Losers: ANAD -8%. NBG -7%. DCTH -7%. ETFC -7%. VRA -6%. Comment! [On the Move]
Thursday, March 14, 8:28 AM E*Trade (ETFC) is downgraded to Sell at KBW following the announcement of Citadel exiting its remaining 9.6% stake in the company. Ken Griffin is getting out after a 32% rise in the stock YTD. Shares -5.3% premarket. Comment! [Financials, On the Move]
Wednesday, March 13, 5:38 PM After-hours top gainers, as of 5:15 p.m.: STSI +3%. CBK +3%. ARCO +2%. ARUN +2%. BFAM +2%.
After-hours top losers: ANAD -10%. VRA -8%. ICON -4%. ETFC -4%. SSNC -4%. Comment! [On the Move]
Wednesday, March 13, 5:00 PM Citadel is unloading the rest of its E*Trade (ETFC) stake, with the broker announcing a secondary offering of about 27.4M shares, roughly 10% of the company. Stock is down 4% AH. (PR) Comment! [Financials, On the Move, Breaking News]
Wednesday, March 13, 9:24 AM Mutual fund giant Fidelity broadens and extends an agreement with ETF giant BlackRock (BLK) to give its 10M customers improved access to iShares products. The new deal will more than double Fidelity's commission-free ETF offerings and create new portfolio strategies for using the funds. The move follows Schwab's (SCHW) OneSource, which made 105 ETFs available commission-free. Comment! [Financials]
Wednesday, March 13, 8:20 AM E*Trade (ETFC) reports a 10% Y/Y decline in daily average revenue trades (DARTs) in February. The firm added a net 9.9K brokerage accounts. The loan portfolio continues to improve, with special mention delinquencies (30-89 days) off 9% from year's end, and "at risk" delinquencies (30-179 days) down 8%. (PR) Comment! [Financials]
Friday, March 8, 10:32 AM There's more management reshuffle at E*Trade (ETFC) where Frank Petrilli will step down as chairman to be replaced by former Fidelity president Rodger Lawson. Board member Ronald Fisher is also stepping down (no replacement named yet). Paul Idzik took over as CEO last month. 1 Comment [Financials]
Thursday, March 7, 8:25 AM E*Trade (ETFC) has its target price raised to $13.50 at MKM Partners, pointing to a generally improved environment for online brokers and the continuing runoff of legacy assets. At an investor conference, management indicated Q1 deleveraging actions totaled $2.8B, double Q4's level. DARTs meanwhile, remain somewhat soft, but "still considerably ahead" of last year's pace. Comment! [Financials]

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