Pure-play online bank and brokerage E-Trade Group Inc. reported first-quarter numbers Tuesday afternoon that were in line with estimates. The company had revenue of US$330 million, and its net income from continued operations was $868,000 (break even per share). The net income is compared to a net loss from operations of $672,000 (break even per share) for the same quarter last year. Revenue was down 21 percent compared to the same quarter last year and down 1.2 percent from the December quarter.
Stories by Ari Weinberg
In the next episode of the IPO that won't go away, Agere Systems Inc. priced 600 million shares at US$6 yesterday. The deal priced at the low-end of the thrice-revised range, originally as high as $20 per share. Shares to be offered jumped from 300 million to 600 million.
The foggy technology IPO picture will clear up this week, thanks to Loudcloud Inc. On Thursday, the Internet infrastructure services company is expected to price its US$150 million offering for Friday.
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