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Stock Market & Financial Investment News

News For EBAY;INTU From The Last 14 Days
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July 23, 2015
08:16 EDTEBAYeBay initiated with an Equal Weight at Morgan Stanley
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July 22, 2015
13:51 EDTEBAYeBay initiated with a Sector Perform at FBN Securities
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10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
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09:04 EDTEBAYeBay downgraded to Market Perform following spin-out of PayPal at Raymond James
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07:12 EDTEBAYeBay downgraded to Market Perform from Outperform at Raymond James
July 21, 2015
11:12 EDTEBAYeBay downgraded to Neutral from Buy at Tigress Financial
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11:02 EDTEBAYPayPal volatility at 37 following split from eBay
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10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
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07:45 EDTEBAYSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:30 EDTEBAYeBay downgraded on valuation at Stifel
As noted earlier, Stifel downgraded eBay to Hold from Buy. The firm downgraded the stock on valuation.
06:19 EDTEBAYSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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06:07 EDTINTUONUG: Yahoo hires VP of global network from Symantec
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July 20, 2015
19:02 EDTEBAYOn The Fly: After Hours Movers
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16:24 EDTEBAYeBay downgraded to Hold from Buy at Stifel
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16:22 EDTEBAYOn The Fly: Top stock stories for Monday
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13:46 EDTEBAYAmazon seen eclipsing Macy's as top U.S. clothing retailer
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13:14 EDTEBAYeBay acquires online clothing resale store Twice, TechCrunch reports
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12:08 EDTEBAYOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
09:31 EDTEBAYPayPal completes separation from eBay
PayPal Holdings (PYPL) has completed its separation from eBay (EBAY) and is now an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL.” PayPal is well-positioned to deliver the benefits of digital money to people around the world. In 2014, PayPal processed $235B in total payment volume and generated more than $8B in revenues. Also last year, PayPal processed $46B in mobile payment volume. The company serves more than 169M active customer accounts in 203 markets around the world. Under the terms of the separation, on July 17, 2015, stockholders who held eBay common stock at the close of business on July 8, 2015 received a distribution of one PayPal common share for every one share of eBay common stock held as of the Record Date. No fractional shares of PayPal were distributed.
08:34 EDTEBAYeBay price target adjusted to $33 following PayPal spin-off at Baird
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