Rejecting pressure from its largest shareholder Citadel to sell itself to an online broker competitor such as TD Ameritrade (AMTD) or Charles Schwab (SCHW), E*Trade chief executive and interim chairman Steven Freiberg said, "Following this review by our Board, the management team will continue to execute on our strategy designed to create value for both our stockholders and our customers."
E*Trade shares fell more than 5% in after-hours trading to $8.96. The pioneer in online retail investing of stocks and bonds, with $182 billion in customer assets worldwide, has seen its stock fall more than 40% year to date.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV