Stock Market Alert - ETFC jumped almost 10% on Friday after the company said in its Q1 earnings report that it had posted its quarterly increase in new customers since Q4 2005. ETFC said that it had added 60k new customers in Q1. This led to a total customer base of 4.8 million accounts.
The company posted a Q1 loss, but analysts seemed to find plenty to be optimistic about. Goldman Sachs analyst William Tanona raised his price target to $4, stating that the company was much more upbeat about its home equity portfolio than was expected. Volume was heavy on Friday, with over 57 million shares of the stock changing hands, compared to a normal daily average of 37.2 million.
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