E*Trade Surges in Furious Buying

Discussion in 'Wall St. News' started by codetroll, Jun 12, 2009.

  1. akdrmeb


    so what.
  2. It's not a mystery, it's short covering.
  3. So what? Did you think you were logged into your Cabbage Patch dolls site? This is a stock trading site, the post is about trading activity in a stock. What part of that don't you understand?
  4. its no mystery at all. tard rocks.

    Sorry! The administrator has specified that users can only post one message every 60 seconds.
  5. Head fake?

    "E*Trade Financial (ETFC Quote) was among the worst decliners in the financial sector Wednesday, while several bank stocks were pressured by a ratings downgrade from Standard & Poor's.

    E*Trade said it is raising $1.2 billion through the sale of common stock and a "significant" debt exchange as part of the brokerage firm's plans to raise capital.

    The company plans to raise $400 million through a common stock offer and exchange more than $1 billion in outstanding debt to help strengthen its capital structure. The proceeds from the offering will provide additional equity capital. E*Trade will also offer to exchange more than $1 billion of new zero-coupon convertible debt for all of its 8% senior notes due 2011 and part of its 12.5% springing lien notes due 2017.

    Citadel Investments, E*Trade's largest shareholder, will participate in both the stock offer and debt exchange. The hedge fund agreed to purchase either $50 million or $100 million of stock, depending on the public offering price, and will convert $800 million of the company's long-term debt, E*Trade said. Shares tumbled 11.5% to $1.46. "

  6. Citadel and Ken Griffith will like this kind of volatility...:)
  7. not to change subject , but ETFC is a total piece of crap for serious professional trading.
  8. Ken should just change the business model and engage some ET professionals...:D