Shares of E-Trade rose 24% in premarket trading on the news while Morgan Stanley fell more than 5%. The deal comes nearly three months after E-Trade rivals Charles Schwab and TD Ameritrade announced a $26 billion merger. Discount brokers had to adapt their business models after just about every company in the industry eliminated commissions on online trades last year. That killed off what was once a lucrative revenue stream.
Gorman added on a conference call with analysts that the deal adds an"iconic brand" to Morgan Stanley that will instantly boost its digital business as well. The companies said in the press release that once the deal is done, Morgan Stanley will generate about 57% of its pre-tax profits from its wealth and investment management unit, up from about 26% ten years ago. E-Trade CEO Mike Pizzi will remain with the company and run the business for Morgan Stanley.
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Does Tokenization Equal Liquidity? Tackling a Commonly Used Dichotomy
Good grief-I can't keep up. Sharebuilder to ING Direct to Capital One to E*Trade ... now Morgan Stanley.
- That's not what it shows. It shows how greedy and power-hungry they are and how little they care what the risk-factors are to the economy and the rest of the country and the world. -
Fixed it: “The move shows how serious the Wall Street giant is about making even more money off of under informed everyday consumers.”
After the next financial crisis, when Morgan Stanley goes bankrupt, who will be buying them? Too big to fail?
But is that what it REALLY means?
You guys are supposed to edit the press release some before reprinting it.
Ban money as a needless expenditure.
Fixed it for you!
Well, that title isn't biased at all.
this headline is like when you don’t know how to start your research paper
The deal will be the biggest by a major US bank since the 2008 crisis.
Morgan Stanley will pay $58.74 a share in stock for E- Trade in a deal bringing together $3.1 trillion in client assets.
WRONG! They don’t care about you! They care about market share and your wallet!!!! “ it’s easier for a camel to pass through the eye of a needle than a rich man to go to heaven! “ Jesus Christ
The all- stock takeover adds E- Trade's $360 billion of clients assets to Morgan Stanley's $2.7 trillion worth of assets.
Morgan Stanley is buying E- Trade for $13 billion in all- stock deal.
Everyday consumers don't use E-Trade or anything like it. They can't afford to play around with stocks you assholes.
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