Summary List Placement Despite this year's decline in total ad spending in the US, the financial services industry will increase its digital ad outlays. The pandemic has prompted many consumers to reassess their personal finances and change how they bank, leading the industry to continue spending on digital ads. We expect digital ad spending in the US financial services industry will increase 9.7% in 2020, to reach $19.62 billion. Consumer banks have closed a significant number of branches, temporarily or even permanently, because of the pandemic. Without a physical location to visit, many consumers have shifted to online banking. According to an April 2020 William Mills Agency survey conducted by The Harris Poll, 73% of US adults said they were more likely to use digital banking and digital payments during the coronavirus pandemic. In response to the online banking surge, banks and other financial services providers are focusing on improving the customer experience of their digital properties.
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Summary List Placement The so-called "bond king" Jeffrey Gundlach said in a webcast Tuesday retail investor activity is "downright terrifying." While stimulus has helped many survive the pandemic, it has provided other amateur investors capital to invest in stock markets. Online trading platform Robinhood has added more than 3 million accounts in 2020. Day-traders have piled into several worthless stocks such as Hertz and JCPenney despite the risks. Visit Business Insider's homepage for more stories . Hedge fund billionaire Jeffrey Gundlach is sounding the alarm on a "downright terrifying" boom in day-trading and retail investor activity. The so-called "bond king" and founder of DoubleLine Capital, was quoted by CNBC in a webcast Tuesday as saying: "of course, retail investor activity is downright terrifying." He said an increase in trades-per-account on online brokerage platforms was worrying. "We just see how much trading is going on in retail," Gundlach said. Online platform Robinhood has taken the day-trading frenzy by storm, having booked 4.31 million daily average revenues trades in June alone, more than double the first quarter, a company spokesperson told Business Insider.
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Ease of access to the stock market has led many new and young traders to capitalize on volatility and slashed fees , as risky assets and trading activities have seen volumes spike. That's the big takeaway from a recent E-Trade study , which found that more than half of investors younger than 34 (51%) say their risk tolerance has increased since the coronavirus outbreak. That's 23 percentage points higher than the total population. The Findings Over one in three investors (34%) said they're moving out of cash and into new positions — 15 percentage points higher than the total population. Over half of investors (51%) under the age of 34 said they are trading equities and 46% said they’re trading derivatives more frequently, compared to 30% and 22% of the total population, respectively. 9% of young investors said their investment portfolios have recovered since the beginning of the pandemic 50% think a recovery will happen in the next six months, compared to 33% of the total population Personal health (58%) and investment portfolio (53%) concerns remain the top worries for young investors To gain some perspective on how this increase in risky trades is impacting the markets, both positively and negatively, Benzinga spoke with DayTraderPro founder Guy Gentile.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show trading trends among Gen Z and Millennial investors during the COVID-19 crisis: Risk tolerance skyrockets since the pandemic. Over half (51%) of Gen Z and Millennial investors say their risk tolerance has increased since the coronavirus outbreak, 23 percentage points higher than
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No pregão desta terça, o S&P 500 fechou em alta de 0,23%, a 3.389,78 pontos, enquanto o Nasdaq subiu 0,73%, a 11.210,84 pontos. O índice acionário S&P 500 conseguiu finalmente nesta terça-feira (18) renovar a sua máxima histórica anotada em 19 de fevereiro, após várias sessões tentando superar a resistência da marca psicológica. O Nasdaq, por sua vez, renovou o recorde anotado ontem, estendendo os ganhos. No pregão de hoje, o S&P 500 fechou em alta de 0,23%, a 3.389,78 pontos, depois de renovar também o recorde intradiário, a 3.395,06 pontos, enquanto o Nasdaq subiu 0,73%, a 11.210,84 pontos, depois de tocar os 11.230,62 pontos. O Dow Jones, por sua vez, recuou 0,24%, na contramão de seus pares, a 27.778,07 pontos. Wall Street Lucas Jackson/Reuters Os ganhos foram liderados desde o começo da sessão pelas ações da Amazon, que fecharam em alta de 4,09%. Outras ações de tecnologia tiveram uma abertura menos positiva, mas ganharam fôlego ao longo do dia, com a ação da Alphabet subindo 2,61%, a da Microsoft avançando 0,58%, e a do Facebook fechando em alta de 0,45%.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ:ETFC) today released the data from its monthly sector rotation study, based on the E*TRADE customer net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors. About E*TRADE Financial and Important Notices E*TRADE Financial and its subsidiaries provide financial services including brokerage and banking products and services to retail customers. Securities products and services are offered by E*TRADE Se
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Goldman Spots A Historic Inversion In The Market Tyler Durden Fri, 07/24/2020 - 11:25 Back in May when we explained " how retail investors took over the stock market " (which Bloomberg again confirmed overnight when it reported that hedge funds are now chasing robinhood investors, and buying whatever Millennial and GenZ daytraders are buying) we said that the recent surge in options trading - which has far more impact on market flows due to embedded leverage - has had a key role in this transformation, and cited Goldman data which showed that "individual investor active trading is playing an increased role in market volatility, particularly in select stocks. In the shares market, 2.3% of all volume is made up of trades for $2,000 or less. The increase in small trades has been even more notable in the options market, where 13% of all trades are for 1 contract." Since then, options trading by retail investors has exploded and according to a follow up from Goldman, which has spotted an unprecedented market inversion, for the first time ever, the volume of option trades surpassed that of ordinary shares!
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ:ETFC): Second Quarter Results Net income of $196 million Diluted earnings per common share of $0.88 Total net revenue of $716 million Daily Average Revenue Trades (DARTs) of 1,010,000 and derivative DARTs of 253,000, both Company records(1) Average interest-earning assets of $60.6 billion; net interest margin of 256 basis points Average margin receivables of $8.0 billion; end-of-period margin receivables of $9.4 billion Net
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TradeZero America, a commission-free trading platform, formally announced a sponsorship deal with Barstool Sports founder Dave Portnoy. What Happened? On June 25, Portnoy without much explanation, was booted off of E*Trade Financial Corporation’s (NASDAQ: ETFC ) electronic trading platform. Alongside the development, TradeZero, a holistic trading technology and brokerage provider whose commission-free, direct-access routing web and desktop platforms allow market participants best-access to consistent execution and trading insights, onboarded Portnoy and announced it would sponsor the Davey Day … Full story available on Benzinga.com
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results indicate investors are bullish on the market but have a wary economic outlook: Bullish sentiment returns. Half of surveyed investors (51%) are bullish, rising 13 percentage points since last quarter. Investors are more likely to believe the market will rise. Over half of investors (51
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that it will report its second quarter 2020 financial results after the close of the US financial markets on Thursday, July 23. The Company will file its standard earnings press release and, in lieu of a conference call, will post supplementary materials on https://about.etrade.com. About E*TRADE Financial E*TRADE Financial and its subsidiaries provide financial services, including brokerage and bankin
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced two corporate social responsibility initiatives to advance social justice, address racial inequality, and further education in the communities where the company lives and works: $1 million donation: Split between the Equal Justice Initiative and the NAACP Legal Defense Fund. The Equal Justice Initiative is committed to challenging racial and economic injustice, providing legal representation, and prote
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for May 2020 and also provided an update for June to-date trading activity. Daily Average Revenue Trades (DARTs) for May were a record 982,000, and derivative DARTs were a record 252,000. Trading volume has continued to increase in June, with DARTs of 1,195,000 and derivative DARTs of 277,000 through June 10, 2020. E*TRADE has facilitated its five highest DARTs volume days of
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show retirement trends among Gen Z and Millennial investors amid the COVID-19 crisis: They’re significantly more likely to take an early withdrawal. Nearly three out of five young investors (59%) said they have withdrawn early from their retirement accounts, compared to just one-third
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Though escalating expenses remains a concern, E*TRADE Financial's (ETFC) strategic initiatives will support the company in the near term.
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Powell Makes History By Unleashing Record "Buying Panic" In Stocks Tyler Durden Mon, 05/18/2020 - 11:47 Powell's promise to the American people that there is a "lot more [the Fed] can do", coupled with his 'explanation' that the Fed "prints money digitally", alongside the news that a tiny coronavirus vaccine trial showed promise, was enough to unleash the biggest buying panic in history this morning, when according to the NYSE TICK index, a record 2,049 stocks saw positive ticks moments after the open, the highest print on record; it was this buying scramble that may have knocked out online retail brokers such as Robin Hood and Etrade in the first hour of trading. There's more: as Bloomberg's Heather Burke shows, about 94% of the S&P 500 is rising today, the most since March 24 - the day after the covid-bottom, when Fed announced it would steamroll over moral hazard and start buying corporate bonds. As Burke says " investors are in a buy-everything mode on hopes that lockdowns are easing and a virus vaccine is on the way" with gains led by beaten-down and heavily shorted cyclical stocks: autos, energy, transport, banks, while recent winners such as tech and consumer staples are lagging.
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E*TRADE's (ETFC) Daily Average Revenue Trades (DARTs) of 927,671 for April marks a year-over-year surge more than 200%.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for April 2020. Monthly Activity Data Apr-20 Mar-20 Apr-19 % Chg. M/M % Chg. Y/Y Trading days 21.0 22.0 21.0 N.M. N.M. DARTs(1) 927,671 902,340 279,065 3 % 232 % Derivative DARTs(1) 227,702 215,959 89,122 5 % 155 % Derivative DARTs %(1) 25 % 24 % 32 % 1 % (7 ) %
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show Gen Z and Millennials are focused on their investments amid the current crisis: Portfolio concerns surpass health worries. Investors under 30 say their #1 concern during the COVID-19 crisis is their investment portfolio (53%), followed by their health (44%), and then their abilit
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E*TRADE (ETFC) Q1 results display a fall in net interest income, and higher expenses and provisions, partly muted by a rise in non-interest income and improved DARTs.
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E*TRADE Financial Corporation (NASDAQ: ETFC) on Thursday reported first-quarter financial results after the closing bell. The stock was down 0.7% immediately following the announcement. The stock has declined 24% in the trailing 52 weeks.
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E*TRADE's (ETFC) Q1 earnings likely to reflect an improved trading performance, partly negated by the depressing impact of a lower net interest income.
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Despite Stellar Trading Results Morgan Stanley Hit By Loss Provisions; Warning Of 30% Drop In April Trading Volume While corporate America's income statement has been hit hard by the plunge in revenue and cash flow, its balance sheet remains resilient for now, although not for long with the pain expected to come over time as cash and liquidity gets depleted. For the US banking system it's been the other way around, with balance sheets emerging as the source of pain as banks scramble to predict the future and estimate how many billions in loans will default - so far the big 4 banks have taken $24BN in loss reserves - even as their income statements remain solid and in fact - largely thanks to the furious trading in March - many banks posted near record sale and trading numbers. Morgan Stanley was one of them, with the bank rounding out Wall Street’s banner week for trading desks with a 24% first-quarter revenue surge, pushing the industry’s tally to the highest in eight years. The firm, which sports the world’s biggest stock-trading shop, said that business posted a 20% jump in the first quarter, with fixed-income revenue surging above $2 billion for the first time since 2012.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that it will report its first quarter 2020 financial results after the close of the US financial markets on Thursday, April 23. The Company will file its standard earnings press release and in lieu of a conference call will post supplementary materials on https://about.etrade.com. About E*TRADE Financial E*TRADE Financial and its subsidiaries provide financial services, including brokerage and banking
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results indicate increasingly gloomy investor views: Recession fears surge. The majority of investors believe we are in a recessionary environment (74%), rising 59 percentage points since last quarter. The bears come marching in. Bearish sentiment rose 23 percentage points since last quarter
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced top accolades from Investopedia’s 2020 Best Online Brokers Awards. E*TRADE earned 4.2 out of 5.0 stars overall. E*TRADE was also named Best Broker for Ease of Trading and Best Broker for Beginning Options Traders. The 2020 Best Online Brokers review consisted of 10 online brokers across 12 key categories and 103 variables. “E*TRADE has a long history as an online broker, and this experience has paid of
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The acquisition of E-Trade will help the bank's revenues be less impacted by market moves, Gorman said.
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As coronavirus fears spread across the US, experts advise not to withdraw from your 401(k) plan, or your employer-sponsored retirement savings account. Withdrawing from a 401(k) plan can be damaging. According to the IRS , an early withdrawal can result in penalties of up to 10% or you may have to pay income taxes on this amount. We've rounded up three ways to retain your 401(k) plan during a crisis. Click here for more BI Prime content As fears over the novel coronavirus spur a slump in US markets , it may be tempting to dip into your 401(k) account. People make early withdrawals from their retirement savings accounts because they're looking for a safety net. Some may be stressed about an economic recession, which experts say may happen in upcoming quarters , or want to pay down high medical bills. About 59% of young investors have admitted they take money out of their retirement accounts, according to a report by financial platform E-Trade . Still, experts say early withdrawals are a big no-no. "People may be more tempted to do this because they're looking for security — [but] this actually does the exact opposite and exposes you to more risk and instability in the future," Eric Roberge, certified financial planner and founder of the finance firm Beyond Your Hammock told Business Insider. "If you're struggling to not panic, stop looking at your portfolio." This money is reserved for your future, he said. "This is long-term money that is supposed to be there to fund your retirement; it is not designed to act like an emergency fund because the markets have you spooked," Roberge said.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced insights from its most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. As part of its Diversity in Financial Services Thought Leadership series, E*TRADE examines niche investor populations to create a more inclusive environment around personal finance and break down the barriers of taboo money conversations. In conjunction with Women’s History Month, E*TRADE an
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A Robinhood spokesperson told Business Insider that Monday's outage was not related to the issues that sidelined customers for two days last week . The cause of the latest outage, which began shortly after trading started and plagued the app until 3:30 p.m. ET, is still unknown, according to the spokesperson. Robinhood's cofounders had posted a note last Tuesday night to the trading app's blog blaming last week's system-wide outages that infuriated users on "stress to its infrastructure" from an "unprecedented load." A Robinhood spokesperson said the company was now working internally and with its partners to understand the problem. In October 2018, Robinhood launched its own in-house clearing service, choosing to go it alone as opposed to working with a clearing brokerage, as is the case with many fintechs in the space. Click here for more BI Prime stories. Robinhood is still trying to figure out what caused its latest outage, which crippled the stock-trading startup for most of the trading day on Monday.
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E*TRADE FINANCIAL CORPORATION : News, information and stories for E*TRADE FINANCIAL CORPORATION | Nasdaq: ETFC | Nasdaq
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[Editor’s note: Want to get this weekly review of news that startups can use by email? Just subscribe here.] How well do Robinhood’s financials stack up against incumbent online brokerages? While we wait for the seven-year-old company’s long-planned IPO, Alex Wilhelm examined Morgan Stanley’s big $13 billion purchase of E-Trade for fresh data comparison points. Robinhood […]
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Brokerages don't want to be your 'financial supermarket.' They want to grab your cash. By Jason Zweig Morgan Stanley's takeover of E*Trade Financial Corp. for $13 billion shows how… | February 22, 2020
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Morgan Stanley and E*Trade Financial Corp. were Wall Street opposites: One an investment banking firm with a historic pedigree that catered to corporations and the wealthy, the other a discount brokerage that had pioneered cheap online trading. Now they’re merging, for reasons that say a lot about how the U.S. financial landscape is being reshaped. After a decade in which Wall Street giants mostly stood pat, in part because of the fallout from the “too big to fail” bailouts of 2008, the desire t
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Morgan Stanley has just struck the largest deal made by a global bank since the 2008 financial crisis. Pending regulatory approval, the Wall Street veteran is to acquire trading platform E-Trade for $13 billion in a bid to capture the “everyday investor” market. The move will bring E-Trade’s 5.2 million clients onto Morgan Stanley‘s books, along with its $360 billion in assets. According to Financial Times, the bank considers those users as a “pipeline of emerging wealth.” [READ: Morgan Stanley wants to sell Bitcoin – without actually selling it] It will also see Morgan Stanley grow to compete with finance’s biggest… This story continues at The Next Web
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The bank’s $13 billion purchase of E-Trade is expected to inspire more mergers among asset managers.
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Bank pays $13 billion for the e-broker, doubling down on wealth management By Liz Hoffman Morgan Stanley is buying E*Trade Financial Corp. in a $13 billion deal that will reshape the… | February 21, 2020
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Morgan Stanley announced Thursday that it is buying E-Trade for $13 billion in an all-stock deal. Here's what Morgan Stanley's CEO and three others are watching now.
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Twitter is rolling out a “continue thread” button, ViacomCBS has big plans for its streaming service and Morgan Stanley acquires E-Trade. Here’s your Daily Crunch for February 20, 2020. 1. Twitter adds a button so you can thread your shower thoughts Twitter is adding a new feature for mobile users to make it easier to […]
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By Liz Hoffman Morgan Stanley is buying E*Trade Financial Corp. in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular… | February 20, 2020
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Analyst Mike Mayo warned investors that Morgan Stanley's bid for E-Trade carries a host of "strategic, financial, and execution risks."
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Morgan Stanley CEO James Gorman told CNBC the origins of the deal date back to 2002.
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Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly US$13 billion, one of the biggest deals on Wall Street since the financial crisis.
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Morgan Stanley acordó comprar E-Trade Financial Corp. por 13.000 millones de dólares, con lo que integra el corretaje minorista a su central de Wall Street y continúa con la consolidación de la industria. La adquisición de todas las acciones…
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Morgan Stanley, the tony investment bank for rich Americans and corporations, is making a play for the masses.
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Mubasher: American multinational investment bank Morgan Stanley has announced that it will acquire discount brokerage E-Trade Financial Corporation in a consideration of $13 billion.
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Michael J. de la Merced / New York Times : Morgan Stanley to buy online discount brokerage E-Trade for about $13B, in the biggest takeover by an American lender since the 2008 financial crisis — The move will give one of Wall Street's powerful blue-chip firms control of a major presence in the world of online brokerages.
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E*TRADE's (ETFC) Daily Average Revenue Trades (DARTs) of 463,739 for January mark a 31% increase from the prior month.
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ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial (NASDAQ: ETFC) today announced top accolades from StockBrokers.com's 2020 Online Broker Review. E*TRADE received the #1 Mobile Trading, #1 Options Trading, and #1 Web-Based Platform Awards. E*TRADE also received the following Best in Class distinctions: Overall: Best in Class 10 years running Options Trading: Best in Class 10 years running1 Education: Best in Class nine years running Research: Best in Class nine years running Mobile Trading: Be
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E*TRADE (ETFC) Q4 performance displays a rise in non-interest income, a benefit to provision for loan losses and improved DARTs, partly muted by fall in net interest income and higher expenses.
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