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February 26, 2014
09:51 EDTEBAYIcahn says 'governance failures do not have a shelf-life' in letter to eBay
Carl Icahn released another open letter to stockholders of eBay, stating in part: "In our February 24, 2014 letter to eBay stockholders, we raised what we consider to be serious and direct questions regarding corporate governance at eBay, with particular focus on the conduct of CEO John Donahoe and directors Marc Andreessen and Scott Cook. In its reply to our letter, eBay seeks to simply cast aside these matters as "cherry picked old news clips" and informs us that Mr. Andreessen and Mr. Cook are two of the most respected, accomplished and value-driven technology leaders in Silicon Valley...Message to the eBay Board: Corporate governance failures do not have a shelf-life...We believe corporate governance at eBay is dysfunctional...In the coming weeks, we will lay out the full detailed business cast to support the separation [of eBay and PayPal.]"
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September 28, 2015
08:53 EDTEBAYMercadoLibre downgraded to Sell from Neutral at Citi
Citi downgraded MercadoLibre (MELI) to Sell with an $80 price target citing unfavorable currency moves and slower growth assumptions for Brazil. The stock is three times more expensive than eBay (EBAY), Citi tell investors.
07:38 EDTEBAYBox to hold a user conference
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September 24, 2015
08:51 EDTEBAYCiti cuts Twitter estimates below consensus, drops target to $30
Citi analyst Mark May says his analysis indicates the consensus estimates for Twitter (TWTR) may be too high as they assume "meaningful increases" in monetization which he believes may prove difficult to realize. May cut his 2015, 2016 and 2017 earnings per share estimates for Twitter to 30c, 34c and 58c, respectively, well below the consensus estimates of 34c, 63c, and $1.03. He also cut his 2016 revenue estimate to 3% below the consensus. It will be difficult for the stock to achieve sustained multiple expansion until user growth accelerates and/or revenue growth stabilizes, May tells investors in a research note. He moved the stock to Citi's "High Risk" designation given Twitter's recent user trends and his belief that his estimates are unlikely to move up in the near-term. He keeps a Neutral rating on the name. May's top picks among U.S. Internet stocks remain Facebook (FB), (AMZN) and eBay (EBAY).
06:39 EDTEBAYJPMorgan sees 'choppy' near-term outlook for eBay, cuts target to $32
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