2 Stocks Investors are Trading After a Big Week
E-Trade Financial Corp. (NASDAQ:ETFC) moving way up (+4.22%) in after hours trades after telling Citadel LLC. to shove it (essentially). Citadel requested that the online trading broker hold a “special meeting” among shareholders to discuss a number of potential changes, including a possible sale. E-Trade’s response to that idea was a quick no, saying it was not in the best interests of its shareholders, and that the company had already privately discussed Citadel’s concerns.
Sirius XM Radio (NASDAQ:SIRI) stock edging higher (+.93%) in after hours action following the hoopla over internet radio company Spotify, which analysts say could quickly be a game-changer in the music industry and uproot recent IPO debut Pandora’s (NYSE:P) business model. Spotify offers users access to a wide variety of music via the web, and already has deals with most of the major record studios. One blogger thinks Spotify will ultimately wipe Apple (NASDAQ:AAPL) iTunes off the map, as it offers more music at a lower price. “While iTunes and Spotify both deliver music over the net, Spotify’s position as a radio service lets it price far below the level of iTunes. For $10 a month, I can gain access to unlimited music as long as I am listening through a Spotify music player. I don’t even have to be connected to the net. “