E-Trade Group Inc. is looking less like a pure-play online brokerage and more like a diversified financial services company as it seeks to mitigate the effects that a dip in trading volumes has had on its revenue growth.

Just a day after the Menlo Park, Calif., company announced that economic doldrums had contributed to a 21% decline in its first-quarter revenue, it said that it had agreed with Target Stores to greatly expand the reach of its network of automated teller machines and staffed E-Trade stores throughout Target's footprint.

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