TD Ameritrade (NASDAQ:AMTD) has issued favorable metrics and upside guidance:

• As of November 30, 2007, client assets totaled approximately $301 billion. Also, average investable assets amounted to $30.9 billion and average fee-based investment balances amounted to $58.1 Billion.
• The online broker now currently expects its earnings per share to be approximately $0.39, well above the $0.27-$0.33 guidance range for the December quarter from the October guidance it offered.

Both TD Ameritrade and Charles Schwab (NASDAQ:SCHW) earlier posted gains in November trades per day:

• Ameritrade posted 339,000 trades per day, up almost 37%;
• Schwab posted 344,400 trades per day, up almost 36%.

So the question remains:  TD Ameritrade has an $11.55 Billion market cap, and Charles Schwab has a $27 Billion market cap.  Which one will buy the rest of E*Trade (NASDAQ:ETFC) for its millions of online trading accounts first?

Shares of all three discount brokers are up marginally in after-hours trading.  E*Trade now regularly appears in our "10 Stocks Under $10" weekly newsletter and also is routinely screened for our Special Situation Investing newsletter.

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Jon C. Ogg
December 18, 2007

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