ETrade Board Approves Share Buyback Of Up To $800 Mln

By Ciara LinnaneMarketWatch Pulse

ETrade Financial Corp. said Thursday its board has approved a share buyback of up to $800 million. The new authorization is the first time in more than eight years that the online brokerage will return money to shareholders through a share buyback. Shares rose 1.1% in premarket trade, and are up 22% in the year so far, while the S&P 500 has gained 1.2%.

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