E*Trade - News

Ticker Symbol: ETFC

E*Trade News - Past

On January 27th, E-Trade posted a Q4 loss of $276 million, or $0.50/share, versus a $1.7 billion loss in the prior year period, or $3.98/share. Loan loss provisions totaled $513 million. Revenues for the quarter were $486 million on record daily average revenue trades of 216,000. 97,000 new accounts were opened. For 2008, the company posted a net loss of $512 million, or $1.00/share ($1.58/share loss from continuing operations) on revenues of $1.9 billion.

E*Trade News – Upcoming

E-Trade's viability could hinge on its ability to obtain TARP assistance. Heavy loan loss provisions at its banking units have forced the financial services company to look to sell non-core assets as private capital investment remains a small probability. If E-Trade is unable to secure TARP financing, a credit rating downgrade would likely be waiting in the wings on a drop below what is an acceptable capitalization strength ratio.

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