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November 23, 2008 3:38:37 CST


E Trade

E Trade news stories

4 Stories

Citadel Bets Big on Mortgage Recovery in E*Trade Deal

Hedge funds beginning to gamble on rebound

(Newser) - In bailing out flailing E*Trade with a $2.5-billion infusion yesterday, Citadel Investment is among the hedge funds and private investors starting to bet big on a recovery in mortgage-related securities, the Wall Street Journal reports. "The market is pricing assets like things are going to get really bad," Citadel founder and CEO Ken Griffin said. "But the more likely outcome is for the economy to slow for two or three quarters, and then strengthen." More »

More about:  Citadel Investment Group E Trade

 E*Trade Stock in $2B Free Fall

59% of value wiped out after analyst warns of subprime woes

(Newser) - Online brokerage pioneer E*Trade has been caught in the subprime mortgage crisis. Its shares fell 59% yesterday, wiping out $2.2 billion of its market value, reports the Wall Street Journal . Although its core business is discount brokerage, it is also a bank and has $12.4 billion in home equity lines of credit, some of which now look questionable. More »

More about:  subprime mortgages Citigroup Goldman Sachs SEC E Trade

Dow Dips Below 13K

Markets seesaw, close down

(Newser) - The Dow closed below 13,000 today after seesawing on bad news from the financial sector and falling oil prices. The Dow finished at 12,987.55, down 55.19, after E*Trade said further mortgage-related write-downs might come—and its shares dropped 56%. The Nasdaq slid 43.81 to close at 2,584.13, and the S&P 500 dropped 14.52 to 1,439.18. More »

More about:  Financial Crisis Dow Jones S&P 500 Nasdaq Citigroup mortgage JPMorgan Chase Bank of America OPEC E Trade Blackstone

Online Brokers Play 'Let's Make a Deal'

E*Trade, Ameritrade renew talks
on merger that could jolt industry

(Newser) - Though past merger talks were never consummated, online stockbrokers E*Trade and TD Ameritrade are again in "serious discussions" over a union, the Wall Street Journal reports. A consolidation would create a dominant player in online trading, reducing competition and perhaps ratcheting up costs for consumers. One source estimates the company could be worth $20 billion. More »

More about:  Wall Street stocks Bank of America merger E Trade online brokers online trading

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