Eyeing E*Trade Financial in the Fannie and Freddie aftermath - Elizabeth Harrow

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1 pt	*Eyeing ETrade Financial in the Fannie and Freddie aftermath**
	Sep 11, 2008 08:18 PM UTC

Elizabeth Harrow

Return	Risk
+0.86%	LOW

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Symbol	Sentiment	Start	Return	Closed
ISE	n/a
ETFC		09/11/08	+59.59%	--

Via BloggingStocks:

Filed under: Analyst reports, Bad news, Stocks to Sell, E*TRADE (ETFC)

Online brokerage firm E*Trade Financial Corporation (NASDAQ: ETFC) hasn't escaped the financial-sector pain this week. The shares plunged 4.7% on Wednesday after E*Trade warned that it expects three-year cumulative losses on its home-equity portfolio to exceed the top end of its previously forecast range of $1 billion to $1.5 billion. Additionally, the firm confessed that its total pretax realized loss on its preferred equity holdings in Fannie Mae and Freddie Mac amounted to $150 million, net of hedges, for the third quarter.

In response to the news, Fox-Pitt Kelton widened its third-quarter loss estimate for E*Trade. The analysts now expect a per-share loss of 42 cents rather than 27 cents. In comments accompanying the revised outlook, Fox-Pitt noted that ETFC's efforts to patch up its damaged

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