etrade financial center

E-Trade Shares Surge 24% After Morgan Stanley Announces $13 Billion Purchase

Topline: E-Trade stock surged up to 25% on Thursday morning after Morgan Stanley, one of the biggest names on Wall Street, announced it would buy the online discount brokerage for $13 billion, solidifying the bank’s shift to the wealth management business. E-Trade’s stock surged 24% while Morgan Stanley’s fell 4% after both companies announced the news on Thursday morning. The blockbuster deal marks the latest in a wave of consolidation for the online brokerage industry, following Read more about E-Trade Shares Surge 24% After Morgan Stanley Announces $13 Billion Purchase[…]