E*TRADE Financial Corporation (NASDAQ:ETFC) Files An 8-K Regulation FD DisclosureItem 7.01 REGULATION FD DISCLOSURE
On March 2, 2017, E*TRADE Financial Corporation (the “Company”) announced reductions to the Company’s trading commissions. The Company estimates that these changes would have reduced 2016 commission revenue by approximately $100 million. In addition, the Company updated its 2017 operating margin target to 36 percent. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
An updated copy of the Company’s investor presentation is also available on its corporate website, about.etrade.com.
Investors should note that the Company announces material financial information in SEC filings, press releases, and public conference calls. Based on guidance from the SEC, the Company may also use the Investor Relations section of its corporate website, about.etrade.com, to communicate with investors about the Company. It is possible that the financial and other information posted there could be deemed to be material information. The information on the Company’s corporate website is not part of this filing.
The information appearing in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section.
Forward-Looking Statements
This Item 7.01 contains statements that are “forward-looking statements” within the meaning of the federal securities laws, including statements regarding our future trade commissions, the timing of the price reduction and the potential impact of these changes on our revenues and future operating margin, and are subject to a number of uncertainties and risks. Actual results may differ materially from those indicated in the forward-looking statements. The uncertainties and risks include, but are not limited to, competition within our industry, the ability to attract and retain customers, trading volumes, general economic and market trends and the other factors set forth in our annual, quarterly, and current reports on Form 10-K, Form 10-Q, and Form 8-K previously filed with the Securities and Exchange Commission (including information in these reports under the caption “Risk Factors”). Any forward-looking statement included in this communication speaks only as of the date of this communication; the Company disclaims any obligation to update any information, except as required by law.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 Press Release dated March 2, 2017
About E*TRADE Financial Corporation (NASDAQ:ETFC)
E*Trade Financial Corporation is a financial services company. The Company provides brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors. The Company operates in two segments: trading and investing, and balance sheet management. Its trading and investing segment offers a suite of financial products and services to individual retail investors. Its balance sheet management segment focuses on asset allocation and managing credit, liquidity and interest rate risks. Its hybrid service delivery model is delivered through various digital platforms: E*TRADE.com, E*TRADE Mobile and E*TRADE Pro. E*TRADE.com is its site that provides customers with tools, guidance, actionable ideas, research and education to take control of their finances. E*TRADE Mobile offers trading applications for various smartphones and tablets. E*TRADE Financial Corporation (NASDAQ:ETFC) Recent Trading Information
E*TRADE Financial Corporation (NASDAQ:ETFC) closed its last trading session 00.00 at 36.20 with 7,955,535 shares trading hands.