In the parlance of real estate, making improvements such as repainting or redoing a bathroom -- anything to improve the aesthetics of a property before trying to sell a place -- is known as staging. Could E*Trade Financial Corp. (NYSE:ETC) be doing the financial equivalent after its Wednesday announcement that it raised more than $600 million from its completion of its public stock offering, which it initiated last week?
Some would think so, as analysts speculate that TD Ameritrade Holding Corp. (NASDAQ:AMTD) and Charles Schwab Corp. (NASDAQ:SCHW) are likely candidates to bid for E*Trade. But E*Trade chairman and CEO Donald Layton said he just wants to focus on the company's stronger bottom line as a result of the extra funds instead of any rumored deal.
"We are very pleased with the results of our common equity offerings,
which provide funds to bolster E*Trade Bank's capital and also to
enhance the liquidity of the parent company," Layton said in a statement. - Gerald Magpily
See E*Trade press release
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