E-Trade Up 6% On Revised Takeover Hopes

Shares of E-Trade (ETFC) are up over 6% this morning to $1.81 on new hopes of consolidation in the discount brokerage arena.

The market is responding to a report in Reuters that quoted TD Ameritrade (AMTD) CEO Fred Tomczyk saying, “”There are lots of potential acquisitions and we’ve got a lot of firepower, so we do look at that.”

E-Trade saw a similar spike last November, when Tomczyk addressed the possibility of a deal involving the rivals.

TD Ameritrade shares are up 1.5%, or 31 cents, today to $20.49.