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What: Shares of E*TRADE Financial
So what: The company's loss in the fourth quarter improved to $6.3 million in the fourth quarter, or $0.02 per share, from a $24 million loss last year, but analysts expected more. Experts were expecting $0.20 in earnings per share, and shares have taken a dive as a result.
Now what: Money that the company set aside for loan losses was much of the disappointment. During the quarter the company set aside $123 million for bad loans and took a $15 million writedown for loans in foreclosure. To add salt to the wound, Goldman Sachs downgraded the stock to neutral and removed it from its America's Buy list.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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