E*Trade Baby Commercial via You Tube
E*Trade stock closed $7.99 a share on January 26, 2012, and the only way is up after that January 26th close. E*Trade closed on Wednesday, March 14 at $10.40 a share or 30% higher than 48 days earlier. The rise in stock price does follow a rocky end of the 2011 for the online brokerage firm. E*Trade made an announcement to stay the course as an independent entity, and this announcement did not make many investors happy as the stock tanked to close at $7.49 on December 19, 2011. The matchmakers on Wall Street has embraced a definite acquisition of E*Trade, and the hopes of a marriage made in financial acquisition heaven seem to have rekindled with the recent jump in E*Trade stock as fundamentals are not supporting the recent moves in price…
E*Trade (NASDAQ: ETFC)
After Hours: 10.39 -0.01 (-0.08%)
Mar 14, 4:30PM EDT
NASDAQ real-time data - Disclaimer
Currency in USD
||10.06 – 10.50
||7.42 – 16.83
|Vol / Avg.
Stock Price is a courtesy of Google Finance:
A contributor on Seeking Alpha
made the following assessment on the rise in stock price for E*Trade:
he on-again, off-again chatter
on E-Trade (ETFC+1.3%
) getting bought out are back on after a taking a breather. Earlier today, the companyannounced
a 16% M/M increase in DARTs for February and a net positive $1.9B change in assets for the month.
The DARTs increase was a month to month increase as DARTs were down 9% in comparison with February 2011. The fundamentals are not available to support such a rise in the stock price. However, the Wall Street anger has passed since last December, and now E*Trade stock is back in favor. The chatter of acquisition wedding bells is guiding this ride up in the markets for E*Trade.
JP Morgan HQ photo courtesy wirednewyork.com
JP Morgan Chase (NYSE: JPM) made the last hour of trading even hotter with the bank’s dividend and buyback announcement. The Federal Reserve gave the US largest bank by assets the blessing to raise the dividend on the bank’s stock by a nickel to 30 cents a share and allowing a plan buyback of $15 billion of its stock. This announcement was just before the Federal Reserve Bank’s Stress Test release by the Federal Reserve Bank on 19 banking institutions, and the performance results were made public after the 4pm market close. The blessing by Federal Reserve was more good news for the markets as the Dow surged 218 points, and the NASDAQ closed above 3000. JP Morgan did lead the industry in announcing the increase on dividends paid to its shareholders.JP Morgan Chase was up 7% to 43.39 at close of business today….
However, many banks and financials were a benefactor on JP Morgan’s announcement late Tuesday. The following DC banking/financial institutions did see significant gains in stock price. The following stock prices are a courtesy of Google Finance:
Courtesy of Google Finance:
The strong performance in the markets should not be the only litmus test in a restoration of confidence in the financial system.
After the markets closed, the results of the Fed’s stress tests saw 15 of 19 institutions pass the test. Four institutions did fail a measure of criteria of the stress tests. These institutions were Citigroup, SunTrust, MetLife Bank, and Ally Bank. Additional information on the Federal Reserve stress tests can be found at donny-wise.com.