E*Trade (NASDAQ: ETFC) closed at $14.21.
- ETFC lowered its EPS guidance, increased its provision for loan losses. ETFC will take additional security impairments and exit and restructure some non-core business.
- Goldman Sachs (NYSE-GS) lowered its 12-month price target to $16 and removed ETFC from its Americas Buy list. Smith Barney says: "If its bank regulators took a more holistic view of ETFC's regulatory capital, it could result in a forced deleveraging."
- The Wall Street Journal reported on 8/22 that TD AmeriTrade (NASDAQ: AMTD) is in merger talks with ETFC. Jana Partners & SAC Capital Advisors LLC in late May encouraged ETFC and AmeriTrade or Schwab (NASDAQ: SCHW) to consider a combination.
- ETFC overall option implied volatility of 60 was above its 26-week average of 44, according to Track Data, suggesting larger price fluctuations.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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