MW: E-Trade rises on Goldman upgrade, financials dip
By Greg Morcroft
NEW YORK (MarketWatch) -- Shares of online financial services firm E-Trade Financial Corp. ETFC +1.19% rose on Monday morning after Goldman Sachs analysts upped the stock to a buy rating, saying the firm is better positioned to maintain net interest margins than rival Ameritrade Holding Corp. AMTD -0.38% . Goldman also downgraded Ameritrade to neutral from buy. In the broader financial sector, more debt woes in Greece smacked down global markets, and the Financial Select Sector SPDR ETF, which tracks the financial stocks in the S&P 500 XLF -0.25% , fell 0.4%. The four financial stocks in the Dow Jones Industrial Average, American Express Co. AXP -0.14% , J.P. Morgan Chase & Co. JPM -0.47% , Travelers Cos. TRV -0.46% and Bank of America Corp. BAC -0.73% , all fell.
