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Investing

No Enthusiasm For TD Ameritrade Deal With E*Trade

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By Douglas A. McIntyre Published
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Investors would suppose that TD Ameritrade (AMTD) and E*Trade (ETFC) shares would be on fire today after The Wall Street Journal broke the story that the companies were in merger talks.

But, with the Dow up 1%, shares in ETFC are up less than 2% at $15.88, well below their 52-week lows. AMTD is better by 4% at $17.

Combining the companies should yield a very significant back office savings in areas like computer systems and customer service. And, there should be a pricing advantage to being the largest discount broker with 11 million customers. Of course, the government might not like the idea of all the little discount brokers getting beaten up.

Whatever the reason, there is almost no appetite for the merger.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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