January 8, 1999 |
E-Trade Group Inc., the No. 2 online brokerage, and Wall Street giant Goldman Sachs Group each agreed to acquire about 25% of the Archipelago electronic network for trading Nasdaq stocks. Archipelago is one of nine ECNs, or electronic communications networks, approved by the Securities and Exchange Commission to use computers to match purchase and sale orders outside the stock markets' trading systems, anonymously and without intermediaries.
August 5, 1999 |
Internet brokerage executive Frank Petrilli, who nine days ago said he would join E-Trade Group Inc., said he will instead return to TD Waterhouse Group Inc. Petrilli, 48, told Reuters: "A confluence of things on a personal level and a family level caused me to rethink my decision before officially starting at E-Trade. This has nothing to do with the E-Trade organization or the people at all."
February 6, 1999 |
No. 3 Internet brokerage E-Trade Group Inc. suffered its third outage in three days Friday, prompting another flurry of complaints from investors and raising more questions over the ability of online trading systems to provide seamless service. Palo Alto-based E-Trade said its online trading site shut down for about half an hour because of a persistent software glitch. The faulty software was discovered earlier in the week and was replaced, but disruptions continued.
April 9, 1999 |
E-Trade Group Inc. today will unveil an advertising campaign designed to position the company as the preferred brand in the young but fast-growing world of online financial services. The Palo Alto-based company declined to break out costs of the new campaign, but E-Trade Marketing Vice President Michael Sievert said the company's advertising and marketing budget for the current fiscal year will total $150 million.
October 14, 1999 |
E-Trade Group Inc. on Wednesday reported a smaller-than-expected net loss for its fiscal fourth quarter while notching solid growth in customer accounts. The second-largest online brokerage firm lost $26.7 million, or 11 cents a share, compared with a loss of $15.2 million, or 8 cents, a year earlier. However, that was better than the 13-cent loss expected by Wall Street analysts. The Menlo Park, Calif.-based company added a net 310,000 accounts during the quarter ended Sept.
January 12, 2001 |
E-Trade Group Inc., moving to diversify in order to weather the shaky stock market, said Thursday it will buy LoansDirect.com, a closely held online mortgage broker. Although specific terms weren't disclosed, E-Trade said the transaction will involve an exchange of stock. Huntington Beach-based LoansDirect, a major provider of online mortgages, will become part of E-Trade's bank subsidiary.
January 5, 1999 |
E-Trade Group Inc. shares rose nearly 19% on Monday after announcing it was splitting its stock 2 for 1, after a year of seeing its share price more than double on growth in online trading. E-Trade, the No. 2 online broker, rose $8.66 to close at a record $55.44 on Nasdaq. The stock closed 1998 at $46.78, up from $23 at the end of 1997. It's the first split for the Palo Alto-based company, which priced its initial public offering at $10.50 in August 1996.
July 10, 2001 |
E-Trade Securities, the No. 2 on-line brokerage, on Monday was fined $90,000 by regulators for deceptively advertising the costs of investing in a new mutual fund it was starting in 1999. The National Assn. of Securities Dealers' regulatory arm also alleged the E-Trade Group Inc. unit used misleading language in direct-mail marketing to current and prospective investors. The NASD said E-Trade's advertising supervision was inadequate. Menlo Park, Calif.
August 14, 2003 |
Online bank and discount brokerage E-Trade Group Inc. on Wednesday said customers traded less in July than in June even as the stock market continued to make headway. E-Trade's Chief Operating Officer Jarrett Lilien said the firm was pleased with its July results, though "it wouldn't surprise me" if August volume falls further in a traditional Wall Street summer slowdown.
January 12, 1999 |
Online brokerage E-Trade Group Inc. on Monday reported a narrower-than-expected net loss and increased revenue on higher customer trading volume in its fiscal first quarter. The results propelled E-Trade shares up $20.88, or 31%, to close at $88.50 on Nasdaq. E-Trade, the No. 2 online trader, reported a net loss of $13.2 million, or 23 cents a share, for the quarter ended Dec. 31, compared with net income of $5.13 million, or 12 cents a share, for the year-earlier period.