Shares of E*TRADE
No, acquisition chatter drove the quick spike.
Is it justified? Well, you be the judge.
"There are lots of potential acquisitions and we've got a lot of firepower," TD AMERITRADE
There are many possible purchases in this fragmented sector for TD AMERITRADE, but E*TRADE is the most eligible bachelor.
It probably also isn't hurting that Charles Schwab
The year did start off with a bang. Daily average revenue trades (the number of trades each day that a broker charges for) were up for January compared with December: 21% for E*TRADE, 22% for TD AMERITRADE, 23% for Schwab, and 24% for Interactive Brokers
The fickle nature of trading activity has been dizzying for analysts. Goldman Sachs went from cold to hot on the sector, changing its mind on some of the individual brokers -- including TradeStation
Will Tomczyk be turning his attention to TradeStation, optionsXpress, or any of the remaining smaller discounters before sizing up E*TRADE? It's possible, but E*TRADE is the discounter that seems to be at the center of all sector consolidation chatter. Taking a long time to tap a new CEO -- which it finally did last month -- isn't going to bring any silence.
Your days of independence appear to be numbered, E*TRADE.
In the market for a new discount broker? The way that rates and initial deposits are bouncing around, I can't say that I blame you. Check the sponsored broker comparison table in the Discount Broker Center to see if you can find the bargain-minded brokerage outfit that's right for you.