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eBay Inc. stock price
eBay Inc. latest news:
PayPal and UPS stumble while eBay and Qorvo advance
Stocks that moved substantially or traded heavily Thursday: eBay Inc., up $5.61 to $46.19
Dow logs a gain, but set for worst weekly decline in more than a year ahead of jobs report
U.S. stock indexes ended mostly lower on Thursday, in a bumpy day of trade as concerns about a pick up in inflation and rising bond yields fostered emerging volatility on Wall Street. The Dow Jones Industrial Average closed up about 37 points at 26,186, with shares of Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. , buoying the blue-chip gauge as borrowing costs rose. The Dow was on track for its worst weekly loss, off 1.6%, since the 2.2% weekly decline back in Sept. 9, 2016, according to FactSet data. The S&P 500 index lost 2 points, or 0.1%, at 2,821, tracking its steepest weekly drop since Nov. 4, 2016, while the Nasdaq Composite Index ended the session off 0.4% at 7,385. The Nasdaq is on pace for its worst weekly slide since June. The 30-year Treasury yield hit 3%, marking its highest level since May and underlining a steady reflation taking place in government bonds, which can erode appetite for assets perceived as risky like stocks. The moves for equities come ahead of an important job market report on Friday, which should indicate whether wages are rising. In corporate news, shares of eBay Inc. finished up about 14% after announcing plans to take over payments from PayPal Holdings Inc. . Market participants were looking to quarterly results from Apple Inc. after the close. 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.
PayPal stock falls after fourth-quarter earnings
PayPal Holdings Inc. shares fell in the extended session Wednesday after the payments company reported fourth-quarter results that beat expectations on earnings and outlook. PayPal stock fell than 3.31% after hours to $82.50. The company reported fourth-quarter net income of $620 million, or 50 cents a share, compared with $390 million, or 32 cents a share, in the year-ago period. Adjusted earnings were 55 cents a share. Revenue rose to $3.74 billion from $2.98 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 48 cents a share on revenue of $3.63 billion. PayPal also said that it had inked a deal with eBay Inc. that will continue to make PayPal a payment method on eBay through July 2023. EBay as a percentage of total payment volume on PayPal shrank to 13% from 16% a year ago, PayPal said. For the first quarter, analysts model earnings of 40 cents a share on revenue of $3.55 billion. PayPal said it expects first-quarter earnings of 41 cents to 43 cents a share on sales of $3.58 billion to $3.63 billion. PayPal stock has gained 115% in the past year, with the S&P 500 index rising 24%.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.
Tech ETF on track for best weekly rally in more than a year
A popular exchange-traded fund focused on the technology sector on Friday was set to mark its best weekly climb since late December of 2016, highlighting investors appetite for a buzzy sector that underscored equity benchmarks appetite for growth stocks and risk taking. The Technology Select Sector SPDR ETF was on pace for a weekly gain of 3.6% which would represent the best weekly advance since the period ended Dec. 9, according to FactSet data. On the day the tech-focused ETF was up 0.9%, holding at an all-time high, led by gains in Xilinx Inc. , Electronic Arts. Inc. and eBay Inc. , which were all up by at least 3%. The climb for technology shares coincides with a stellar start to 2018 for the broader stock market, which has seen the Dow Jones Industrial Average and S&P 500 index all hit records without one session in negative territory so far in 2018. Technology stocks helped to underpin much of the recent and persistent rally higher for Wall Street last year, with recent moves suggesting that investors remain focused on growth in light of an administration that bills itself as favorable to business, and a global economy that appears to be on firmer footing. 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 adds artificial intelligence capability with Google Home partnership
EBay Inc. said Tuesday that it has partnered with Google and its Google Home device to offer what it calls a more personalized shopping experience with help from Google Assistant. Artificial intelligence and voice commerce are being used increasingly by retailers to provide customized service to shoppers. The new eBay service can switch from the Google Home platform to shoppers' mobile devices. EBay shares are down slightly less than 1% late Tuesday.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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