TD Ameritrade Holding Corp has no interest at the moment in buying smaller discount brokerage rival E*Trade Financial Corp, TD Ameritrade Chief Executive Fred Tomczyk said on Tuesday. "I am not putting a lot of time wasting calories on that right now," he said at a conference sponsored by Citigroup.Without mentioning E*Trade by name but in response to a question about buying a rival that is in the news, Tomczyk said he would only use excess capital to purchase a company that adds a new capability or that can be done at "attractive economic terms."The company being discussed wouldn't add new capabilities and "at this point" can't be done at attractive terms, he said.Analysts at Wells Fargo Securities earlier on Tuesday told clients in a report that E*Trade could sell itself at a strong price since it has shaved its risky home lending portfolio by almost 90 percent, particularly for online discount brokerage competitors.
TD Ameritrade Holding Corporation (TD Ameritrade) is an investment banking and a retail discount securities brokerage company. Shares of AMTD fell by 1.07% or $-0.4/share to $37.04. In the past year, the shares have traded as low as $28.34 and as high as $38.74. On average, 2352190 shares of AMTD exchange hands on a given day and today's volume is recorded at 2486001.
E*Trade Financial Corporation is a financial services company and an online brokerage industry. Shares of ETFC fell by 1.36% or $-0.38/share to $27.55. In the past year, the shares have traded as low as $18.20 and as high as $28.18. On average, 3128090 shares of ETFC exchange hands on a given day and today's volume is recorded at 5665822.
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