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June 27, 2014
06:05 EDTEBAYeBay's Magneto killing Go product, Re/code reports
Magento, eBay's e-commerce software business, will shut down its Go product, which is aimed at small-business owners, Re/code reports, citing a source. Magneto will move those customers over to Bigcommerce's service. eBay will also kill its ProStores e-commerce software offering, the source adds. Reference Link
News For EBAY From The Last 14 Days
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July 2, 2015
06:00 EDTEBAYWells sees minimal impact to peers from Xoom buyout
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05:49 EDTEBAYCompetitive bid for Xoom is possible, says SunTrust
SunTrust analyst Andrew Jeffrey believes eBay (EBAY) unit PayPal's acquisition agreement with Xoom (XOOM) could invite a competitive bid. In a note to investors last night titled "Steal Of The Century," Jeffrey writes Xoom's "one-of-a-kind cross-border remittance franchise and market-leading ACH risk management technology" could bring other suitors. At $890M or $25 per share, PayPal is paying a compelling price, the analyst argues. He sees Xoom's takeover as potentially threatening to Western Union’s (WU) business. Jeffrey has a Buy rating on Xoom with a $29 price target. Following the company's merger agreement with PayPal, the shares traded up $4.40 to $25.10 last night in after-hours trading. PayPal is looking to acquire Xoom ahead of its planned separation from eBay.
July 1, 2015
17:39 EDTEBAYXoom up 7% after Paypal acquires company for $25 per share
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17:37 EDTEBAYXoom acquisition to be slightly dilutive to PayPal’s FY16 EPS
Due to anticipated one-time integration costs, the completion of the Xoom (XOOM) transaction is expected to be slightly dilutive to PayPal’s non-GAAP EPS for FY16. PayPal intends to fund the transaction with cash on its balance sheet. Upon closing of the acquisition, Xoom will operate as a separate service within PayPal. The acquisition is expected to close in Q4, subject to customary closing conditions, including Xoom stockholder approval, the expiration or early termination of the applicable pre-merger waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the receipt of certain consents relating to Xoom’s money transmitter licenses. Holders of approximately 18% of Xoom's outstanding shares, including all executive officers and directors of Xoom and certain entities affiliated with Sequoia Capital, have entered into voting and support agreements with PayPal pursuant to which they have agreed to vote in favor of the transaction. eBay (EBAY) is PayPal’s parent company.
17:34 EDTEBAYPayPal to acquire Xoom for $25 per share
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June 30, 2015
10:38 EDTEBAYWells Fargo upbeat on core eBay, Bernstein bullish on PayPal
Wells Fargo issued an upbeat note on the outlook for eBay's (EBAY) core business, while another research firm, Bernstein, was bullish on the company's soon to be spun off PayPal (PYPL) unit. eBay has said that it will spin off its PayPal online payments unit through a distribution to eBay shareholders on July 17. CORE EBAY: The shares of core eBay are likely to offer a "unique value opportunity" following the spin-off, as many growth investors will probably sell their shares in eBay creating "an interesting entry point." Wells Fargo stated. eBay's business model is "arguably better" than that of most retailers, as it has no inventory risk, better margins, and more efficient capital deployments than most other companies in the sector, Wells believes. Numerous initiatives that the company is undertaking, including structured data and a simplified listing process, could enable eBay to beat expectations going forward, Wells contended. Additionally, there is little risk to fiscal 2016 estimates for eBay, since its guidance does not factor in any improvement in its business, the firm believes. Noting that "when issued" shares of eBay and PayPal are slated to start trading on July 9, Wells says that eBay's shares would provide "exceptional value" if they trade anywhere near the current $20 per share implied value of core eBay. At $25, the shares would still provide "excellent value," the firm added. PAYPAL: The growth of Internet payments is in its infancy and has "vast untapped potential," according to Bernstein analyst Carlos Kirjner. PayPal's total payments volume should have a compound annual growth rate of over 20% in the next three years, helping its revenue to jump by a CAGR of at least 17% over the period, the analyst stated. Since PayPal's position in mobile is strong, competing services from Apple (AAPL) and Google (GOOG) will, at most, create a small headwind to PayPal's growth over the next three years, Kirjner contended. Moreover, PayPal has room to cut its costs, enabling its margins to expand and its earnings to grow faster than its revenue over the longer term, the analyst stated. He values PayPal at $43 per eBay share. PRICE ACTION: In early trading, eBay added 0.7% to $59.77.
07:51 EDTEBAYeBay PayPal outlook positive, says Bernstein
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07:23 EDTEBAYCore eBay will provide 'unique value opportunity,' says Wells Fargo
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June 29, 2015
09:35 EDTEBAYActive equity options trading on open
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07:30 EDTEBAYeBay price target raised to $64 from $60 at JPMorgan
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June 26, 2015
16:26 EDTEBAYeBay board approves completion of eBay, PayPal separation
eBay (EBAY) announced that its board of directors has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. The separation will occur through a pro rata distribution of all of the stock of eBay’s subsidiary PayPal Holdings (PYPL) to eBay stockholders. The distribution remains subject to satisfaction of the conditions described in the preliminary information statement filed with the Form 10, including, but not limited to, obtaining all necessary regulatory approvals, including that of the European Central Bank. In the distribution, eBay stockholders will receive one share of PayPal common stock for each share of eBay common stock held as of the close of business on July 8, the record date for the distribution. Subject to the satisfaction of the conditions to the distribution, the distribution of PayPal common stock is expected to occur on July 17. PayPal will not issue fractional shares of its common stock in the distribution. Immediately following the distribution, PayPal will be an independent, publicly traded company and will be listed on the NASDAQ Stock Market under the ticker “PYPL.” eBay will continue to trade on the NASDAQ Stock Market under the ticker “EBAY.” Beginning on or about July 6, and continuing up to and through the distribution date, it is expected that there will be two markets in eBay common stock. Shares that trade in the “regular-way” market will be entitled to shares of PayPal common stock distributed pursuant to the distribution; shares that trade in the “ex-distribution” market will trade without an entitlement to shares of PayPal common stock distributed pursuant to the distribution. Shares of eBay in the “ex-distribution” market will trade under the symbol EBAY.wi. PayPal anticipates that “when-issued” trading will begin on or about July 6, and will continue up to and through the distribution date. Shares of PayPal in the “when-issued” market will trade under the symbol PYPL.wi. “Regular-way” trading in PayPal’s common stock is expected to begin on July 20, the first trading day following the completion of the separation.
14:38 EDTEBAYeBay slips lower following downgrade
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14:37 EDTEBAYBGC Financial downgrades eBay to Hold, says PayPal split baked in
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14:31 EDTEBAYeBay downgraded to Hold from Buy at BGC Financial
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10:00 EDTEBAYOn The Fly: Analyst Initiation Summary
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June 25, 2015
16:49 EDTEBAYeBay initiated with a Neutral at Mizuho
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07:28 EDTEBAYeBay Marketplace business could be attractive value play, says Baird
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June 24, 2015
16:00 EDTEBAYActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
June 23, 2015
18:04 EDTEBAYWal-Mart poaches technology talent from eBay, WSJ says
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14:53 EDTEBAYeBay bans Confederate flags listings, Reuters reports
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