NEW YORK, March 14, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on E TRADE Financial Corporation, eBay Inc, ArcelorMittal.
E TRADE Financial Corporation(NASDAQ:ETFC);s shares are down 6.8% on Thursday morning after the news of Citadel LLC dumping its stake in the company came up.
Citadel used to the largest shareholder of E*Trade. It was the owner of 27.4 million shares, which is equivalent to 9.6% of the outstanding shares. Citadel mentioned sometime late Wednesday that it has decided to sell off its stake in a secondary offering. E*Trade will not be getting any proceeds.
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Michael Tarkan of Compass Point Research & Trading analyst has mentioned in a report that shareholders will probablytake some gains this morning as shares of E*Trade have gone up by 32% this year. He rates the stock as Neutral.
In other news, eBay Inc(NASDAQ:EBAY) shares are trading higher by $1.53 at $52.51 after Ken Sena of Evercore Partners has upped his rating on the stock to Overweight and set the price target to $64. Sena urges investors to look beyond the disappointing February data posted on Monday by ChannelAdvisor and some worrisome comments made by the head of North American MasterCard.
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Shares of eBay fell by 4% last day after Chris McWilton of MasterCard presented his remarks at a conference held by Credit Suisse. McWilton mentioned that fee hikes will pertain to the PayPal unit of eBay.
Sena wrote that all transactions through digital wallets are considered to be hiding transaction information from source of payment or the merchant. PayPal is one such digital wallet. Other transactions through digital wallet that include storing payment data online by the merchant or the ones that include passing the information between transaction parties are not supplemented. MasterCard argues that the objective of this hike in fees is to address weaker network branding, fee lucidity and data classification.
Sena has modeled eBay revenue at $16.6 and profit at $2.88 per share for 2013. Citi upgrades Arcelor Mittal
Meanwhile, Citi has upgraded ArcelorMittal (ADR)(NYSE:MT) from Neutral to Buy and analysts at the brokerage see 25 percent upside in the stock hereon. They also think that the company will carry out a strategic revamp which may help prop up its troubled European business.
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The brokerage favors separation of European assets from the rest of the group, as this would give investors exposure to the strong business in the Americas and the mining units there.
Shares of the company are up 2.70% at $14.95.
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