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eBay Inc. stock price
eBay Inc. latest news:
PayPal stock soars to intraday record after executives raise fourth-quarter guidance
PayPal Inc. stock hit a record intraday high of $77.94 Thursday, and closed up 5.8% after news that executives raised its fourth-quarter forecasts and that it would sell its $5.8 billion credit portfolio to Synchrony Financial . PayPal issued a fourth-quarter revenue forecast of earnings of between 52 cents and 59 cents a share on revenue of between $3.64 billion and $3.7 billion. Previously, executives had forecast earnings of between 37 cents and 39 cents a share on sales of $3.57 billion to $3.63 billion. PayPal was formerly a unit of eBay Inc. and executives spun the company out after investor pressure. It started trading as a separate entity in July 2015 at $34.69. PayPal stock is up 94% this year, with the S&P 500 index up 15%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
EBay shares plunge after third-quarter results
EBay Inc. shares plunged in the extended session Wednesday day after the company reported third-quarter earnings. EBay shares fell 4.2% to 36.40 after hours. The company reported third-quarter net income of $514 million, or 48 cents a share, compared to $509 million, or 36 cents a share, in the year-ago period. Adjusted earnings were also 48 cents a share. Revenue rose to $2.4 billion from $2.22 billion in the year-ago period. Analysts surveyed by FactSet had estimated 33 cents a share on revenue of $2.37 billion. For the fourth-quarter, analysts model earnings of 60 cents a share on revenue of $2.58 billion. EBay stock has gained 27.9% this year, with the S&P 500 index rising 14.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Ebay partners with Spring for online fashion boutique
Ebay Inc. announced that it has partnered with Spring, an online retailer selling men's, women's and lifestyle items, for an online boutique offering brands like Chloe, David Yurman and Rag & Bone. Spring will have a dedicated "storefront" on eBay's site. Ebay has 171 million active buyers and, according to the company, 81% of merchandise sold on the site is new. The partnership comes at a time when Amazon.com Inc. is beefing up its online fashion offerings with private labels and partnerships with companies like Nike Inc. . Ebay shares are nearly flat in Thursday premarket trading, and up almost 29% for the year so far. The S&P 500 index is up 11.6% for 2017 to date. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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