Pedestrians walk outside an E*Trade Financial office in New York, U.S.
Daniel Acker | Bloomberg | Getty Images
Check out the companies making headlines in midday trading on Thursday:
E-Trade, Morgan Stanley — Shares of E-Trade surged 21.8% after Morgan Stanley said it will acquire the brokerage for $13 billion. The investment bank will pay $58.74 a share in stock for E-Trade in a deal bringing together $3.1 trillion in client assets. Morgan Stanley shares fell 4.6% on the proposed purchase, the biggest takeover by a U.S. bank since the financial crisis.
Virgin Galactic — Shares of the space tourism slipped 0.2% after a wild day of trading, with heavy volume seeing the stock swing up as…