New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 18, 2014
14:30 EDTEBAY, LGFIcahn says eBay, like Lionsgate, trying to hide the truth
Carl Icahn, in his latest open letter to stockholders of eBay (EBAY), stated that on March 13 the SEC charged Lions Gate Entertainment (LGF) with failing to fully and accurately disclose to investors a key aspect of its effort to thwart Icahn's 2010 takeover bid and Lions Gate agreed to pay $7.5M and admit wrongdoing to settle the SECís charges. In the letter, which was posted to the Shareholders' Square Table website, Icahn compares that case to his current dispute with eBay. "While the board [of eBay] and its advisors may try to use tricks and technicalities to keep documentary evidence of malfeasance out of the hands of stockholders, I believe that ultimately truth will win out," Icahn wrote. Reference Link
News For EBAY;LGF From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
September 30, 2014
07:07 EDTEBAYeBay: PayPal on track to process 1B mobile payments this year
Subscribe for More Information
07:03 EDTEBAYeBay says Dan Schulman to lead PayPal
Subscribe for More Information
07:02 EDTEBAYeBay says Devin Wenig to become CEO of new eBay company
Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay (EBAY) company. As CEO of eBay, Wenig will lead the eBay Marketplaces and eBay Enterprise businesses. Revenue over the last twelve months1 for these two businesses grew approximately 10% year-over-year to $9.9 billion, with eBay Marketplaces accounting for about $8.7 billion. eBay Marketplaces and eBay Enterprise collectively handled approximately $85 billion of gross merchandise volume and gross merchandise sales, which grew 13 percent year over year. Scott Schenkel, currently the CFO of eBay Marketplaces will become the CFO of the new eBay company. Concurrent with the announcement of the business separation plan, the company also today announced the appointment of Dan Schulman to be President of PayPal, effective immediately, and CEO-designee of the standalone PayPal company following separation. Schulman joins PayPal from American Express (AXP), where he was president of the companyís Enterprise Growth Group. A seasoned leader in multiple industries, Schulman has held senior executive and CEO roles at AT&T, Priceline and Virgin Mobile, prior to joining American Express. Goldman, Sachs & Co. and Allen & Company LLC are serving as financial advisors and Wachtell, Lipton, Rosen and Katz is serving as legal counsel to eBay Inc.
07:01 EDTEBAYeBay sees completing transaction as tax-free spinoff in 2H15
Subscribe for More Information
07:01 EDTEBAYeBay to separate eBay, PayPal into independent publicly traded companies in 2015
eBay Inc. said its Board of Directors, following a strategic review of the companyís growth strategies and structure, has approved a plan to separate the companyís eBay and PayPal businesses into independent publicly traded companies in 2015, subject to customary conditions. Creating two standalone businesses best positions eBay and PayPal to capitalize on their respective growth opportunities in the rapidly changing global commerce and payments landscape, and is the best path for creating sustainable shareholder value, the company said. ďeBay and PayPal are two great businesses with leading global positions in commerce and payments,Ē said eBay Inc. President and CEO John Donahoe. ďFor more than a decade eBay and PayPal have mutually benefited from being part of one company, creating substantial shareholder value. However, a thorough strategic review with our board shows that keeping eBay and PayPal together beyond 2015 clearly becomes less advantageous to each business strategically and competitively. The industry landscape is changing, and each business faces different competitive opportunities and challenges. In its recently completed review, the board concluded: A changing competitive landscape creates enormous opportunities for eBay and PayPal; separation will create sharper strategic focus and better position each business to capitalize on those growth opportunities as independent companies. The benefits of the existing relationships between eBay and PayPal will naturally decline over time and can be optimized in armís length operating agreements between the two entities. This is the best path for delivering sustainable shareholder value. The company expects to complete the transaction as a tax-free spin-off in the second half of 2015, subject to market, regulatory and certain other conditions. eBay Inc. President and CEO John Donahoe and company CFO Bob Swan will be responsible for leading the separation of each business, with board oversight. This includes determining appropriate management and capital structures for eBay and PayPal, and putting in place appropriate operating agreements. Neither Donahoe nor Swan will have an executive management role in the new eBay and PayPal companies. But to provide continuity, they each expect to serve on one or both of the boards of the two companies.
07:00 EDTEBAYeBay to separate eBay, PayPal into independent publicly traded companies in 2015
Subscribe for More Information
06:58 EDTEBAYeBay trading halted, pending news
Subscribe for More Information
September 29, 2014
16:22 EDTLGFOn The Fly: Closing Wrap
Stocks on Wall Street opened sharply lower, as the volatility which was seen last week carried over. It was the sixth session in a row, and the eighth in the last ten, in which the Dow experienced a triple digit move. The early weakness was attributed to unrest in Hong Kong as pro-Democratic protesters forced the closing of 17 banks and many small businesses. The market was able to shrug off the early weakness and pared its losses, with the Nasdaq eventually crossing into positive territory for a brief time. The averages all ended the day in the red, but were much improved from the lows they hit right after the opening bell. ECONOMIC EVENTS: In the U.S., consumer spending increased 0.5% last month, which was a bit better than expected. Personal incomes increased 0.3% in August, which matched the consensus forecast of economists. The National Association of Realtors' pending home sales index fell 1.0% to 104.7 in August, which was worse than the expected drop of 0.5%. In Asia, Hong Kong's Hang Seng Index dropped nearly 2% as riot police advanced on protesters in the deepest unrest since China took back control of the colony two decades ago. In Europe's bond market, Italian and Spanish yields rose as Italy's Prime Minister Matteo Renzi faced rumors that he could be pressured to quit and leaders in Spain's Catalonia region called for a referendum to be held on independence. COMPANY NEWS: DreamWorks Animation (DWA) rallied $5.82, or 26.03%, to $28.18 after The Hollywood Reporter said yesterday that the company is in talks to be acquired by Japanese telecom company Softbank (SFTBF), the parent of U.S. wireless carrier Sprint (S). Softbank is negotiating to buy DreamWorks for $32 per share, or $3.4B, the report said, citing an unnamed source, though CNBC's David Faber and entertainment industry publication Variety were cautious about whether a deal will be consummated. Lionsgate (LGF), another movie maker recently linked to Softbank by The New York Post and to Vivendi (VIVHY) by Reuters, also rose $1.79, or 5.74%, to $32.99. MAJOR MOVERS: Among the notable gainers were a number of companies that agreed to be acquired. Ambit Biosciences (AMBI) surged $7.14, or 87.07%, to $15.34 after Daiichi Sankyo agreed to acquire all of its outstanding shares for $15 per share in cash plus one Contingent Value Right based on commercialization related milestones. Einstein Noah (BAGL) advanced $6.76, or 50.49%, to $20.15 after the bagel shop owner agreed to be acquired by JAB Holding Company for $20.25 per share in cash. Athlon Energy (ATHL) rose $11.59, or 24.8%, to $58.32 after striking a deal to be bought by Canadian energy giant Encana (ECA), which also gained 46c, or 2.18%, to $21.59 following the deal announcement. Among the noteworthy losers was Civeo Corporation (CVEO), which dropped $12.63, or 49.59% to $12.84 after the company decided against conversion to a real estate investment trust, or REIT, and said it will continue as C corporation and redomicile to Canada. Also lower were shares of Ford (F), which fell $1.22, or 7.47%, to $15.11 after the automaker said during its investor day presentation that it won't achieve its previously stated 2014 profit goal and now sees pre-tax profit of $6B for the fiscal year. INDEXES: The Dow slipped 41.93, or 0.25%, to 17,071.22, the Nasdaq fell 6.34, or 0.14%, to 4,505.85, and the S&P 500 dropped 5.05, or 0.25%, to 1,977.80.
13:53 EDTLGFVivendi may look at deal for Lionsgate, Reuters says
Subscribe for More Information
12:18 EDTLGFOn The Fly: Midday Wrap
Subscribe for More Information
10:32 EDTLGFDreamWorks jumps after report of Softbank takeover talks
Subscribe for More Information
09:36 EDTLGFDreamWorks potential takeout positive for content space, says Stifel
Subscribe for More Information
September 23, 2014
13:22 EDTEBAYBitPay, PayPal announce bitcoin integration
BitPay announced a relationship with PayPal to further expand the adoption of bitcoin. The first joint project is an integration with PayPalís Payments Hub, which is PayPalís alternative payment platform for digital goods. The integration with PayPalís Payments Hub is now completed and ready for merchants in North America to enable. Merchants using Payments Hub can create a BitPay merchant account and provide the API credentials into the Payments Hub admin. Customers with a bitcoin wallet will then be able to pay with bitcoin for games, music, videos, news, ebooks, and other digital content.
September 19, 2014
10:59 EDTEBAYSamsung working with PayPal for mobile payments on smartwatch, Gigaom says
Subscribe for More Information
07:25 EDTLGFSoftbank to spend some of Alibaba windfall in Hollywood, NY Post says
Subscribe for More Information
September 18, 2014
12:42 EDTLGFLionsgate acquires worldwide distribution rights for 'The Smosh Movie'
Subscribe for More Information
08:47 EDTEBAYeBay October volatility elevated into Alibaba IPO
eBay September call option implied volatility is at 33, October is at 31, November is at 27, January is at 27; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected IPO of Alibaba (BABA) on September 19.
September 17, 2014
13:57 EDTEBAYiPhone code compromises users, reroutes to fake eBay site, BBC says
Subscribe for More Information
13:32 EDTLGFCodeblack Films enters multi-picture first look agreement with Datari Turner
Subscribe for More Information
09:18 EDTEBAYHouse Energy & Commerce Committee to hold a hearing
Subscribe for More Information
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use