Goldman Sachs Adjusts E*TRADE Estimates

Goldman Sachs reports that E*TRADE Financial Corporation's ETFC CEO Steven Freiberg presented a new corporate strategy for ETFC today and, while not a simple list of target ideas, the strategy focuses on ETFC's strengths – robust brand, solid brokerage, mix of businesses – to offset other shortcomings. “In addition, with the release of November DARTs (+9% mom) and our economist's view that short term rates do not rise in 2012, we adjust our estimates to $0.08/0.65/1.15 from ($0.02)/0.60/$1.25,” Goldman Sachs writes. E*TRADE currently trades at $15.99.