|Bid||53.45 x 2200|
|Ask||53.45 x 900|
|Day's Range||53.14 - 54.71|
|52 Week Range||34.68 - 57.30|
|Beta (5Y Monthly)||1.18|
|PE Ratio (TTM)||13.86|
|Earnings Date||Apr 14, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||0.56 (1.25%)|
|Ex-Dividend Date||Feb 23, 2020|
|1y Target Est||51.27|
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 said Thursday that is acquiring discount brokerage E-Trade Financial Corp. in an all-stock deal valued at $13 billion that is the biggest for a major U.S. bank since the 2008 financial crisis.
Wall Street, searching for a fresh burst of growth, is going all-in on Main Street. The latest effort on this front came this past week when (MS) (ticker: MS) unveiled a $13 billion all-stock deal to buy (ETFC) (ETFC), signaling that the elite Wall Street bank will compete aggressively for retail banking and brokerage customers. The combined entity will have revenue of $44 billion, eight million customer accounts, and $3.1 trillion of client assets.
Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating:
BALA CYNWYD, PA / ACCESSWIRE / February 21, 2020 / Brodsky & Smith, LLC reminds investors of investigations it is conducting regarding the following companies for possible breaches of fiduciary duty and ...
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.
The stock market rally pulled back on coronavirus fears, including an Apple warning. Domino's Pizza, SolarEdge and Enphase Energy were big earnings winners.
E*Trade Financial shares are giving back some of Thursday’s surge as investors size up Morgan Stanley’s deal to buy the online broker for $13 billion.
Rating Action: Moody's reviews Morgan Stanley for upgrade. Global Credit Research- 21 Feb 2020. New York, February 21, 2020-- Moody's Investors Service has placed on review for upgrade Morgan Stanley's ...
Moody's Investors Service (Moody's) today placed all of E*TRADE Financial Corp.'s (E*TRADE) ratings on review for upgrade, including its Baa2 long-term issuer and senior unsecured ratings. Moody's also affirmed E*TRADE Bank's baa1 baseline credit assessment (BCA) and P-1 short term bank deposit rating, and placed the remainder of E*TRADE Bank's ratings on review for upgrade, including its baa1 adjusted BCA. Today's rating action follows the announcement that E*TRADE has entered into a definitive agreement to be acquired by Morgan Stanley (A3 senior, review for upgrade) in an all-stock transaction valued at around $13 billion.
Interactive Brokers and Fidelity are the kings of a new era in which trading commissions have disappeared, websites keep improving, and industry consolidation is under way.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of E*TRADE Financial Corporation ("ETFC" or the "Company") (NASDAQ: ETFC) in connection with the proposed acquisition of the Company by Morgan Stanley ("MS") (NYSE: MS). Under the terms of the acquisition agreement, ETFC shareholders will receive 1.0432 shares of MS for each ETFC share they own. This represents consideration of $58.74 based on the closing price of MS on February 19, 2020. The transaction is expected to close in the fourth quarter of 2020.
Interactive Brokers Group Inc. was in talks with E-Trade Financial about merging their brokerage operations but decided the deal didn’t make sense, according to Interactive’s founder Thomas Peterffy.
The head of field management sits down with Barron’s Advisor to discuss his rise up the ranks, the importance of data analytics and the newly announced deal to acquire E*Trade.
NEW YORK, NY / ACCESSWIRE / February 21, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Board of Directors of E*TRADE Financial Corporation (E*TRADE " or "the ...
Our annual look at the top online brokers spotlights websites that beat the pack with cutting-edge technology, ease of use, and abundant functionality. Here’s a look at the brokers, and at their strengths and weaknesses.
Morgan Stanley's (MS) recently-announced acquisition with E*TRADE Financial (ETFC) reflects the companies' strategic efforts for business expansion, unlocking growth opportunities.
(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 email@example.com;Lananh Nguyen in New York at firstname.lastname@example.org;Nabila Ahmed in New York at email@example.comTo contact the editor responsible for this story: Michael J. Moore at firstname.lastname@example.orgFor 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.
The following are the top stories in the Wall Street Journal. - Morgan Stanley is buying E*Trade Financial Corp in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. - Sprint Corp and T-Mobile US Inc have agreed on new terms for their merger, as the wireless carriers race to close the deal after overcoming a federal court challenge.
Because the college kid was crushing it in Ballard Power . Because the shoeshine man had finally picked a winner in Advanced Micro Devices . Consider these positives: first, Morgan Stanley bought E-Trade with stock, a smart move because E-Trade was coming in as a poor second to upstart Robinhood and had to do something.
The merger isn’t expected to be accretive to Morgan Stanley’s earnings until 2023 and will dilute tangible book value per share. Morgan Stanley (ticker: MS) is issuing its cheaply valued stock, which trades around 10 times projected 2020 earnings per share, and paying 15 times estimated 2020 projected earnings for E*Trade (EFTC). Morgan Stanley shares were down $2.18, or 3.9%, to $54.13, while E*Trade stock is up $10.72, or 24%, at $55.66.