E-Trade Financial Corp. (ETFC) Shares Continue to Fall
Shares of E-Trade Financial Corp. fell Monday after news that prospective buyers of the online brokerage are debating the value of its deteriorating mortgage portfolio.
The Wall Street Journal reported over the weekend that TD Ameritrade Holding Corp. and Charles Schwab Corp. are worrying that some parts of E-Trade's business have not been marked down enough to reflect the current subprime mortgage trouble. Shares have fallen 82 percent since their peak this year on June 6, when they closed at $25.60.
A Charles Schwab representative declined early Monday afternoon to discuss any potential deal with E-Trade.
"We don't comment on speculation or rumors," said spokesman Greg Gable.
A spokeswoman for Omaha, Neb.-based TD Ameritrade also declined to discuss reports of a deal.
The Wall Street Journal reported over the weekend that TD Ameritrade Holding Corp. and Charles Schwab Corp. are worrying that some parts of E-Trade's business have not been marked down enough to reflect the current subprime mortgage trouble. Shares have fallen 82 percent since their peak this year on June 6, when they closed at $25.60.
A Charles Schwab representative declined early Monday afternoon to discuss any potential deal with E-Trade.
"We don't comment on speculation or rumors," said spokesman Greg Gable.
A spokeswoman for Omaha, Neb.-based TD Ameritrade also declined to discuss reports of a deal.
Labels: E-Trade Financial Corp., ETFC
posted by Stock Administrator @ 9:51 PM
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