2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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NEW YORK - E-Trade Financial Corp. said Monday that it has completed the sale of its Canadian business to Scotiabank as part of its turnaround efforts.
| ETFC | 1.15 |  -0.14 |
The bank said it will receive about $515 million in net proceeds from the sale, which includes the repatriation of capital from the unit.
E-Trade has been hit hard by the mortgage meltdown and said earlier this month that it expects to lose more than $1.5 billion over three years due to the housing slump.
The company said Monday that it expects to generate more than $700 million from asset sales this year.
E-Trade's shares rose 11 cents, or 3.3 percent, to $3.48 in after-hours trading, after falling 54 cents, or 13.8 percent to finish at $3.37. The stock has ranged from $2.08 to $14.40 over the past year.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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