E*Trade Rebound Chance Deluxe - 500 Beiträge pro Seite

[boom2010]

Hallo liebe investment-Gemeinde,

Auf einen guten thread, mit positiver Vibes!!!!

Allzeit gute Trades! Mit E*Trade

Zitat:

Wie kam es zu dem Kurssturz?
E*TRADE ist ja eine amerikanische Gesellschaft mit Tochergesellschaften und Niederlassungen in mehreren Ländern, unter anderem in Deutschland.
In USA ist E*TRADE auch eine Bank und ist in diesem Zusammenhang leider ebenfalls Engagements im US-Hypothekenmarkt eingegangen.
E*TRADE geht nun von erhöhtem Abschreibungsbedarf und damit einhergehenden Verlusten aus, was natürlich negativ ist und auch Verkaufsempfehlungen von US-Analysten nach sich gezogen hat.
Entsprechend gross ist der Druck heute, aber im Bereich unter 4 USD scheint sich die Aktie zu stabilisieren, daher halte ich das für einen guten Einstieg.
Ausserdem ist die Aktie ja aufgrund der Abschreibungen nicht plötzlich wertlos, und ich finde der Markt übertreibt hier auch ein wenig.
Wie E*TRADE Finanzvorstand Jarrett Lilien heute bestätigt hat, wäre die Firma selbst bei einem Abschreibungsbedarf von einer Milliarde USD noch ausreichend kapitalisiert und ist nach den Regularien der Aufsichtsbehörden gut finanziert.
Das sehe ich ebenso und finde die Marktreaktion daher übertrieben und könnte mir zudem vorstellen, dass sich nun andere Brokerhäuser bei der nunmehr günstigen E*TRADE einkaufen, was eine gewisse Fusions- und Übernahmephantasie wecken könnte.

Zitat Ende!

[Pfandbrief]

Sowohl deine Besprechung als auch die Bemerkung des CFO geht am Problem vorbei. Das Problem ist, dass Leute vielleicht massenhaft Geld von e-trade abziehen. Geschieht das, ist völlig gleichgültig, wieviel das ABS-Portfolio abgeschrieben werden muß, sie sind dann in jedem Falle zahlungsunfähig.

In dem Fall sind dann auch die Aktien wertlos. Glaubt man zu wissen, dass obiges nicht passiert, sind die Aktien freilich ein Schnäppchen jetzt.

Ich weiß aber nicht warum man diese Möglichkeit ausschliessen können sollte. Hätte ich dort ein Konto mit mehr als $100.000, würde ich sofort abziehen.

[boom2010]

Gut, die Leute sind verunsichert und ziehen eventuell ihr geld ab,
aber:
es besteht keinerlei Anlass zur Besorgnis, was Brokerkonten bei E*TRADE Germany angeht:

Die Depotbank von E*TRADE Germany ist die BIW-Bank und gehört selbstverständlich dem Einlagensicherungsfonds an.

[enuxx]

Hätte allerdings keine Lust, Bekanntschaft mit dem Einlagensicherungsfond im Fall der Fälle zu machen. Kostet alles Zeit und das Geld ist dann nicht verfügbar. Ist die Frage, inwieweit etrade Deutschland eigenständig bleibt, falls das Mutterhaus tatsächlich Insolvenz anmelden sollte.

[geccos]

mannmannmann, das geht ja ganz schön ab nach norden bei e*trade, was?

übernahmegerüchte

http://www.it-times.de/news/nachricht/datum/2007/11/26/etrad…

[venividivici]

Hallo boom2010

Schön mal woanders was von Dir zu lesen

Bei den günstigen Schnäppchenkurse, habe ich mich entschlossen heute in Etrade zu investieren!!

[venividivici]

IN THE MONEY: E*Trade Giving Citadel Stock For 'Free' >ETFC



By Maxwell Murphy
A Dow Jones Newswires Column

(This article was originally published Tuesday)


NEW YORK (Dow Jones)--If E*Trade Financial Corp. (EFTC) is desperate enough
to give its stock away for free, its investors can't be blamed for worrying that
last month's five-year lows won't be the shares' low-water mark.

E*Trade's deal last week with Citadel Investment Group shed E*Trade's
riskiest portfolio of assets and provides a $2.55 billion capital infusion
designed to keep E*Trade's head above water through its current travails.
Citadel will also walk away from the deal with about 18% of E*Trade's equity,
thanks to about 85 million more E*Trade shares that will be treated as if they
were worthless in the deal.

Per the deal, Citadel will buy E*Trade's entire asset-backed securities
portfolio for $800 million, or a mere 27 cents on the dollar, given the
portfolio's $3 billion carrying value on the E*Trade books. Citadel, with a
capital contribution by some BlackRock Inc. (BLK) funds, will also receive $1.75
billion in senior unsecured notes yielding 12.5% annually. Citadel will also get
to nominate one representative to join E*Trade's board.

And then there are the shares, about 85 million representing 19.99% of the
E*Trade shares now outstanding. Though E*Trade and Citadel profess the shares
are part of a package deal, and therefore not technically free, the fact that no
dollar value has been placed on what they contribute to the total speaks volumes.

In its press release announcing Citadel's investment, E*Trade said that for
its $1.75 billion Citadel will receive the notes and common stock.

During a conference call to discuss the matter, William Tanona of Goldman
Sachs asked a seemingly logical question that elicited a brief but telling
response from E*Trade's acting chief executive, R. Jarrett Lilien.

Tanona wanted to know how much of the $1.75 billion was interest bearing,
figuring those 84.7 million or so shares might be worth $450 million or so and
the remainder would be the 12.5% notes.

Not so, said Lilien. It will be 12.5% interest on the whole $1.75 billion.
Well, if the $800 million buys the ABS portfolio and only that, and the $1.75
billion buys a full $1.75 billion worth of 12.5% notes, then that leaves the
poor shares carrying a place holder of zero.

E*Trade spokeswoman Tina Martineau said Wall Street should look at the
Citadel investment as a "package," in which Citadel is receiving all of the
components for the total amount, so you can't really separate them out that
easily. To a certain extent that may be true, but why that is the case may be
small consolation to E*Trade holders.

Citadel spokeswoman Katie Spring said that, while Citadel is getting the
shares in return for no monetary compensation, the stock is indeed compensation
for Citadel. Were the equity not included, Spring said Citadel might have
required an even higher interest rate on the notes and an even lower price tag
on the ABS portfolio.

With E*Trade's junk credit rating, it isn't a stretch to imagine it might
have had to pay higher than 12.5% if it tried to float some bonds into the debt
market in today's nervous environment.

What is particularly shocking is that 27 cents on the dollar might not even
be the floor on the valuation of those pesky asset-backed securities, as many
followers of other financial institutions with ABS exposure were likely hoping
for mightily.

Peter Dunay, investment strategist for Leeb Capital Management, said
E*Trade's assets likely are "worth very close to nothing," noting how dangerous
a position it is for E*Trade to have a market capitalization of just $1.7
billion these days and be facing the possibility of billions of dollars in
charges, like the $2.2 billion one it will take just to write down its ABS
portfolio to the value Citadel paid for it.

E*Trade is a company for which the "risk of bankruptcy is really scary,"
Dunay said, and it needed the capital infusion terribly, "even if the cost is
giving away part of the business."

E*Trade's Martineau said E*Trade won't expand on its position until it files
an 8-K with the Securities and Exchange Commission detailing the Citadel
investment. Be on the look out for this document, which should explain the
accounting treatment of the stock and a valuation placed on it, if any. The
filing could come as soon as later Tuesday.

Meanwhile, at last glance Tuesday, E*Trade shares were off 2.7% at $4 apiece,
giving the equity stake Citadel will get a notional value of nearly $340 million.
That by itself is worth more right now to Citadel than the roughly $219 million
in interest Citadel will earn on the notes in a year's time.

Still, Dunay said E*Trade's move has its positives. For starters, E*Trade
found that there is at least somebody out there who will place any concrete
value at all on asset-backed securities, even one this low.

Moreover, he said, this now gives Citadel plenty of interest in the continued
solvency and health of E*Trade, meaning Citadel might be a place for E*Trade to
turn if things get worse before they get better.

It also may be indicative of a new trend in the realm of mergers and
acquisitions. Since August, the M&A arena has gone sour, and it is increasingly
hard for private-equity buyers willing to finance billions of dollars in debt
for heavily leveraged buyouts.

Citadel is taking advantage of a buyers' market, Dunay said, and taking an
"aggressive" stake in E*Trade. This could provide a back door to eventually
acquiring much more of the company, potentially on even better terms, if things
get even more dire down the road.

(Maxwell Murphy is one of four "In The Money" columnists who take a
sophisticated look at the value of companies, and their securities, and explore
unique trading strategies.)

-By Maxwell Murphy, Dow Jones Newswires; 201-938-5173; maxwell.
[e-mail]

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(END) Dow Jones Newswires
December 05, 2007 07:30 ET (12:30 GMT)

[venividivici]

Haaa!!!!!

Wie es ausschaut gibts ein fetten Rebound!!!