E*TRADE Financial Corporation (NASDAQ:ETFC) Files An 8-K Results of Operations and Financial ConditionItem 2.02.
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July20, 2017, the Company announced its second quarter earnings for fiscal year 2017. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information furnished shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or incorporated by reference into any filing thereunder or under the Securities Act of 1933 unless expressly set forth by specific reference in such filing.
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Item 2.02. |
REGULATION FD DISCLOSURE |
Additionally, the Company published an updated version of its investor presentation with data for the quarter ended June30, 2017. The presentation is available on the Company’s 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 document.
On July 20, 2017, the Company announced that its Board of Directors has authorized the repurchase of up to $1 billion of shares of the Company’s common stock. The timing and exact amount of any common stock repurchases will depend on various factors, including market conditions and the Company’s capital position. The Company’s share repurchase program does not include specific price targets, may be executed through open market purchases or privately negotiated transactions, may utilize Rule 10b5-1 programs, and may be suspended or terminated at any time. As of June 30, 2017, the Company had approximately 275 million shares outstanding.
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Item 2.02. |
FINANCIAL STATEMENTS AND EXHIBITS |
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Exhibits |
| 99.1 |
Earnings Press Release, dated July 20, 2017 |
E TRADE FINANCIAL CORP ExhibitEX-99.1 2 a51592112ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 E*TRADE Financial Corporation Announces Second Quarter 2017 Results Company reduces its consolidated Tier 1 leverage ratio threshold to 6.5% Announces $1 billion share repurchase program NEW YORK–(BUSINESS WIRE)–July 20,…To view the full exhibit click here
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.