M&A update: E*Trade rallies on appearance of less bankruptcy risk
Posted by: in Raising MoneyFiled under: Rumors, Raising money, Shareholders, Value and lack thereof, Public or private?
E*Trade(NYSE:ETFC) is recently up $1.75 to $5.34 on the appearance bankruptcy concerns have apparently diminished on expectations of a capital infusion from private equity. It has also been widely speculated ETFC brokerage account unit will be purchased by a money center or Ameritrade(NASDAQ:AMTD). ETFC announced on November 9th it expected to take significant write-downs in Q4 on its asset backed securities. ETFC announced The Securities and Exchange Commission is conducting an informal inquiry of ETFC loan and securities portfolios. ETFC December option implied volatility of 177 is above its 26-week average of 54, according to Track Data, suggesting bigger price fluctuations.
M&A Update: provided by Stock Specialist Paul Foster of theflyonthewall.com.
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