Postby iam802 » Mon Mar 22, 2010 10:51 pm

2 news in one press release.

- New CEO
- Reverse stock split; trying to bump up EPS

http://www.businesswire.com/portal/site ... ewsLang=en
NEW YORK--(BUSINESS WIRE)--E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today announced that its Board of Directors has appointed Steven Freiberg Chief Executive Officer, effective April 1, 2010. Mr. Freiberg, an experienced financial services executive, held multiple senior level positions over a distinguished 30-year career at Citigroup.

Mr. Freiberg, who also will join the Company's Board of Directors, succeeds interim CEO Robert Druskin. Mr. Druskin will remain on the Board, continuing in his role as Chairman.

Our Board has authorized these actions and we look forward to sharing the proposal with stockholders. Mr. Freiberg, 53, recently served as Co-Chairman and Co-CEO of Citigroup's Global Consumer Group, which constituted all consumer business lines in 53 countries, including investment products, retail/commercial banking, credit cards, mortgages, and consumer finance and, under his leadership, represented more than 50 percent of Citigroup's earnings.

During his tenure at Citigroup, Mr. Freiberg also served as Chairman and CEO of Citi Cards, where he led the world's largest credit card franchise. Prior to that, as Chairman and CEO of Citigroup's Investment Products Division N.A., Mr. Freiberg had responsibility for retail investment products, platforms, sales, and service.

Robert Druskin, Chairman and interim CEO, E*TRADE, commented, The Board is delighted to welcome Steve to lead E*TRADE into its next phase of growth. Steve is an exceptional senior financial services executive who brings extensive experience in driving the strategic direction and management of a broad and diverse consumer financial services franchise. We are fortunate to have Steve as our next CEO and are confident that he is the best person to help E*TRADE reach its full potential.

“E*TRADE is an extraordinary company with a powerful brand and a compelling customer value proposition,said Mr. Freiberg. Bob Druskin and Don Layton, his predecessor, did a terrific job leading the Company through very challenging times and positioning the organization for success. I look forward to the opportunity to work with the Company's talented management team to build on that momentum and help drive E*TRADE's future growth and profitability.

Mr. Freiberg has served as a Board member of MasterCard International since 2006. He also serves on the Board of the March of Dimes and is Co-Chair of the NYC Council of Habitat for Humanity. Mr. Freiberg holds both a B.B.A. and an M.B.A. from the Zarb School of Business at Hofstra University.

Reverse Stock Split

The Company also announced today that it will seek the approval of its stockholders for a 1-for-10 reverse stock split and a corresponding decrease to the Company's authorized shares of common stock to a total of 400,000,000 shares at the Company's 2010 Annual Meeting to be held on May 13, 2010.

With 2009's successful recapitalization behind us, our permanent CEO in place on April 1, and a focus on returning to sustained profitability, we believe a reverse stock split is a logical next step for the Company as we complete our financial and managerial restructuring, said Mr. Druskin. Our Board has authorized these actions and we look forward to sharing the proposal with stockholders.
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Postby winston » Fri Nov 18, 2016 9:30 pm

not vested


Folks aren't just gambling in Vegas... they're also gambling on Wall Street.

Regular readers know that some of the world's most popular casino stocks have been in an uptrend this year. Over the last 10 months, Las Vegas Sands (LVS) and Wynn Resorts (WYNN) are up 60%-plus each.

Americans are feeling rich enough to spend lots of money in casinos, and they're also trading more stocks than ever before. One big beneficiary of this trend has been discount online broker E-Trade (ETFC).

In its third-quarter earnings, E-Trade noted that the total number of brokerage accounts and total customer assets were both at new highs.

As you can see in the chart below, E-Trade shares have been locked in a steady, long-term uptrend. They're up more than 320% over the last four years alone. As long as Americans continue to bet on Wall Street, E-Trade's uptrend should continue...

Source: Daily Wealth
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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