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Stock Alert: Interactive Brokers Up 2%

Shares of brokerage company Interactive Brokers Group, Inc. (IBKR) are currently up nearly 2% on Thursday morning.

Earlier today, Morgan Stanley had announced that it would acquire Interactive Brokers' competitor E-Trade for $13 billion. The all-stock deal is expected to close in the fourth quarter of 2020. The combined company will create a platform with more than 8 million client accounts and relationships and $3.1 trillion in assets, according to the bank.

The news of this acquisition follows Charles Schwab's $26-billion acquisition of TD Ameritrade, which was announced in November.

IBKR is currently trading at $56.76, up $0.90 or 1.60%, on the Nasdaq. The stock is up about 5% compared to last year.

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