NEW YORK (AP) -- E-Trade Financial Corp. shares spiked 25 percent Friday on continued speculation the struggling online brokerage might negotiate a takeover by chief rivals TD Ameritrade Holding Corp. or Charles Schwab Corp.

There's no doubt the companies have been interested in exploring a potential deal for the past few years. And, recent comments made by Ameritrade Chief Executive Joe Moglia about his interest in buying at least part of E-Trade has sparked expectations that more serious talks might have evolved.