Etrade ETFC Applies for Tarp 11/25/08

Etrade Financial ( ETFC ) stock is breaking out to the upside 11/25/08 as they try to tap into the TARP Program. ETFC stock price is $1.20 up 35% today. It is among today's biggest gainers.

Nov 25, 2008 (BUSINESS WIRE) -- E*TRADE FINANCIAL Corporation (ETFC) today announced it continues to work constructively with regulators through each phase of its application for the U.S. Treasury's TARP Capital Purchase Program. The Company remains optimistic that it will receive the necessary approvals and expects to make an announcement in the near future.

E*Trade Financial Corp. (ETFC) said it's continuing to work with regulators on its application for the U.S. Treasury Dept.'s capital purchase program. The company said it is confident it will get the necessary approvals soon.

The lender and online broker's update comes a week after it said October was its best month in more than five years for new account openings. However, the company's shares have continued to fall as worried investors awaited news of the pending application for the government's Troubled Assets Relief Program.


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