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Trade falters among competition

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How To Top Categories Computers Home Entertainment Internet Phones Photography Security Tablets ForumsLog In to CNET Join ETrade shares tumbled 13 percent on Friday after an analyst lowered his earnings estimate on the stock for the quarter. But today the stock has largely rebounded, climbing as high as 23 1/4, up from the previous day’s close of 21 3/8.

Deutsche Morgan Grenfell lowered its earnings estimate on ETrade shares to 16 cents from 17 cents, based on expectations that the company’s revenue will be lower than previously estimated because customer account growth may be down by 5,000 for the quarter, said Wayne Segal, a research associate.

ETrade had roughly 325,000 accounts at the end of December, up 188 percent from year ago figures and a 44 percent increase compared with the previous quarter.

"We mentioned
Cheap Michael Kors handbags in our report how Ameritrade has spent
cheap michael kors over $30 million

in advertising lately and there is a general increase in competition,"
cheap Michael Kors handbags outlet heOther competitors, like discount broker Charles Schwab, have ramped up value add

services in their efforts to compete, while companies like Suretrade and Ameritrade are offering

to execute trades at less than $10 per transaction. ETrade next month also plans to roll out new services, such as research from brick and mortar brokerages and information on initial public offerings.

Analysts with Credit Suisse First Boston noted that ETrade’s quarter to quarter customer account growth is likely to slow during calendar 1998, to 11 percent at the end of the year from 17 percent at the start. They also noted that the cost to acquire new
cheap michael kors customers is likely to rise during this time, to $225 per customer from $200, and attributed the likely jump to a slowdown in new account growth.

Nonetheless, First Boston and DMG still remain bullish on the company, keeping their "buy" recommendations.

"I think 1998 will not be a year that disappoints people, but everyone will

have to wait
wholesale Michael Kors handbags outlet for the quarter numbers
cheap Michael Kors handbags outlet to be released,"

said Kate Connelly, an ETrade spokeswoman.

ETrade will announce its quarterly results April 7.

"Traditionally, ETrade has provided an upside surprise when they announce their earnings, but this quarter will be more in line with expectations," Segal

Analysts are expecting the company to report earnings of 15 cents a share,

according to First Call.

In the backdrop, Christos Cotsakos, ETrade’s chief executive and president, who had not been an active insider seller for more than a year, recently sold 9 percent of his holdings, or 150,000 shares. The shares were
Michael kors handbags outlet trading in the 27 range when he initially filed to sell, back in mid February.Articles Connexes?

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