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Morgan Stanley to Buy E-Trade, Q4 Earnings & A New Cheap Strong Buy Stock - Free Lunch

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On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains looks at the Morgan Stanley MS and E-Trade ETFC merger. We then dive into some quarterly earnings results from the likes of Avis Budget Group CAR. The episode then closes with a dive into why Everi Holdings Inc. (EVRI - Free Report) is a Zacks Rank #1 (Strong Buy) stock right now.

U.S. indexes swung between small gains and losses Thursday morning. This came one day after the Dow, the S&P 500, and the Nasdaq all climbed on Wednesday to put a stop to three straight days of declines, amid coronavirus setbacks.

Meanwhile, Morgan Stanley announced Thursday that it would buy E-Trade in a $13 billion, all-stock deal. The merger will help reshape the historic investment banking powerhouse, as it adds a firm focused on the average retail investor.

The planned merger will help Morgan Stanley diversify and allow E-Trade to better compete against TD Ameritrade AMTD and Charles Schwab SCHW, who announced their own planned merger in November.

On the earnings front, shares of Hyatt Hotels H, Avis Budget, and Zillow (Z - Free Report) all jumped on strong quarterly results. Looking ahead, Dropbox DBX, First Solar FSLR, and others are set to report earnings after the closing bell.

The episode then closes with why Las Vegas-based casino tech firm Everi is a Zacks Rank #1 (Strong Buy) stock as it trades under $20 per share.

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