2/20/2020, 4:08 PM (Source: TeleTrader)
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E-Trade soars 24% on Morgan Stanley deal

E-Trade Financial Corporation surged more than 24% on Thursday following a deal it agreed on with American investment bank Morgan Stanley, reaching its highest level since September 2018.

According to the agreement, Morgan Stanley will purchase the e-trade platform at a price of $58.74 per share, paying $13 billion to close a deal.

E-Trade's shares jumped 23.97% at 9:55 am ET, trading for $55.7 per share. Meanwhile, Morgan Stanley dropped 3.94% at 9:50 am ET to go for $54.09 per share.

Breaking the News / GA