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

To: JF2155 who wrote (6671)	6/1/1999 12:52:00 PM
From: Spytrdr	Read Replies (1) \| Respond to of 13953

from Briefing.com: "ETRADE (EGRP) 40 3/4 -3 3/4: Someday we're all going to bank this way... Maybe this will be ETrade's new slogan, as leading on-line broker announced that it will buy Telebanc Financial (TBFC 76 7/8 +10 3/8) for nearly $1.8 bln in an all stock deal... TBFC shareholders to receive 2.1 shares of EGRP for each of their shares... Assuming regulatory approval, deal expected to close this fall... EGRP expects TBFC acquisition to be immediately accretive... Briefing.com contends that EGRP's expansion into the on-line banking industry a shrewd move as it positions EGRP as the premier full service on-line financial company offering brokerage, retail banking, investment banking, insurance and mortgage services to its rapidly growing customer base... That stock is down has more to do with Merrill's (MER) long delayed but much anticipated decision to enter the on-line trading world than it does with reaction to purchase of TBFC... EGRP's management has consistently shown that it understands the Net's impact on the future of the financial industry better than virtually everyone else, save Charles Schwab & Co... While stock is still pricey on a traditional valuation basis, Briefing.com maintains that market will continue to pay premium for those Net companies which lead their industry; and EGRP certainly fits the bill... At a 44% discount to its 52-wk high, stock trading at an attractive price for aggressive growth, risk tolerant, long-term investors."