SmarTrend(R) News Watch: Citadel Investment May Invest More In E-trade

Shares of E-Trade Financial (NASDAQ:ETFC) rallied more than 15% in premarket trading after a report in the Wall Street Journal indicated it was in talks with its largest shareholder Citadel Investment Corp. over possible ways to steady its financial position. While details were not disclosed, the WSJ said that the appointment of Kenneth Griffin, Citadel's co-founder, to the company's board indicated that Citadel may be positioning itself to invest more capital in the company. In November of 2007, the hedge fund invested $1.75 billion in E-trade, for a 20% equity stake.

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