Rochester, NY 8/6/2009 5:01:36 PM
Pre-Market - E*TRADE Financial Corporation, ETFC - E*Trade suffering from another market loss, but CEO is positive that the company will recover soon
E*TRADE Financial Corporation
E*Trade Financial Corp. is finding ways raise the company’s capital, said it expects a recent stock offer and debt swap will be enough to pull it out of its two-year crisis, even as the online broker reported its eighth straight quarterly loss.
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The company’s second quarter loss was due to the growing net charge offs and a $405 million loan loss provision. But E*Trade's loan delinquencies improved, and the per share loss was less than expected due to record trading in a period that saw individual investors jump in to take advantage of a market rebound.
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