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Non-Tech : E*Trade (NYSE:ET)

ET 16.64

+0.3%

3:59 PM EST

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To: WhySoSoon who wrote (6769)	6/2/1999 5:08:00 PM
From: Jason Chesshir	Read Replies (1) of 13953

Wednesday June 2, 4:06 pm Eastern Time RESEARCH ALERT - ETrade upped to a buy on deal MIAMI, June 2 (Reuters) - Raymond James & Associates on Wednesday raised ETrade Group (Nasdaq:EGRP - news) from a neutral to a buy, saying an agreed takeover of Telebanc Financial (Nasdaq:TBFC - news) would give ETrade a big edge over online finance rivals. -- ''ETrade has established itself as the premier blue chip in the Internet financial space,'' the brokerage said in a research note. ''Its leadership position may be difficult for other companies to emulate and therefore this stock deserves superior valuation.'' -- Raymond James said the $1.8 billion takeover announced on Tuesday may be difficult to close but that it expected the deal to go through. -- E*Trade shares were down 63 cents to $38.63 in late afternoon trading. biz.yahoo.com

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