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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Spytrdr who wrote (8068)	8/17/1999 7:20:00 PM
From: ecommerceman	Read Replies (3) \| Respond to of 13953

Very bullish analysis from Briefing.com... 10:58 ET ****** ETrade (EGRP) 28 5/8 +1 3/4: A drop in long-term rates, a friendly inflation report, and the revival of the Internet stocks have all combined to give this online brokerage an added lift today. Suffice it to say, ETrade needs one as its stock has dropped 60% since reaching its all-time high in early April. That fall from grace was driven by the jump in interest rates, a fear of Fed tightening, and concerns the online brokerage industry had showed signs of slowing growth in the second quarter as the number of trades processed per day was roughly that of what was seen in the first quarter. Moreover, contentions that the group could see its first sequential decline in trading volume in the third quarter simply added fuel to the fire. For online trading services, a slowdown in trading volume can be murderous on top- and bottom-line results. True, ETrade derives the bulk of its revenues from trading activity, but it hasn't been content to be just a financial portal for trading stocks as evidenced by its acquisition of Clearstation.com, its definitive merger agreement with Telebanc (TBFC), and its investments in EOFFERING, and Archipelago. However, the company isn't shying away from expanding its trading business either. To that end, ETrade is looking to expand its global reach, and plans to launch branded web sites in the top 20 financial markets worldwide. As part of its global strategy, ETrade announced last month the acquisition of TIR Holdings, a Dublin-based company that will help it execute trades for international clients. Nevertheless, ETrade remains well aware that domestic opportunities abound as a recent Gomez Advisors survey suggested the online investment crowd could increase by two-thirds to 8.6 mln in the next six months. Looking to provide current and prospective customers with the most opportunistic trading services, ETrade announced this morning an agreement with Instinet Corp. to provide after hours trading for its customers, beginning in September, from 4:00 p.m. ET to 6:30 p.m. ET-- twice as long as its nearest competitor and in equities on both the NYSE and Nasdaq. To be sure, a stock such as ETrade, in its current form, will mirror prevailing market conditions, but material declines in the stock like the one we have witnessed recently present excellent, long-term (re)entry opportunities as it has become clear to Briefing.com that ETrade is evolving into more than just a retail stock trading service and that its management has an undeterred focus on being a leader, and not a follower, in this competitive space. - PJO