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Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:20 EDTEBAYEarnings Preview: eBay set to report Q2 earnings since security breach
eBay (EBAY) is expected to report second quarter earnings after the market close on Wednesday, July 16 with a conference call scheduled for 5:00 pm ET. eBay is a technology company that enables commerce through Marketplaces, Payments, and GSI. EXPECTATIONS: Analysts are looking for earnings per share of 68c on revenue of $4.38B. The consensus range is 64c-72c for EPS, and $4.16B-$4.49B for revenue, according to First Call. LAST QUARTER: eBay reported first quarter EPS of 70c against estimates of 67c on revenue of $4.3B against estimates of $4.23B. The company gave Q2 EPS guidance of 67c-69c and Q2 revenue guidance of $4.33B-$4.43B as well as FY14 EPS guidance of $2.95-$3.00 and FY14 revenue guidance of $18B-$18.5B. eBay expects FY14 adjusted effective tax rate to increase by more than 1 point to 20%-21% and said it would lower StubHub's fee structure this year. NEWS AND STREET RESEARCH: In the past quarter, eBay had asked users to change passwords following a cyberattack that compromised a database containing encrypted passwords and other non-financial data. Pacific Crest said the security issues could cause eBay to miss street estimates and the low-end of its Q2 guidance. TW Baird also warned that the company had slowed in the latter half of May, also saying it may report weaker-than-expected Q2 results. ChannelAdvisor reported SSS was up 14% in April, up 11.5% in May and up 12.3% in June. Piper Jaffray said the numbers showed eBay's gross merchandise volume growth slowed in May due to the breach. BGC Financial also lowered Q2 revenue estimates for the company, but said the impact of the security breach would mostly be confined to the June quarter. The firm reaffirmed its full-year outlook. eBay announced a deal where Google listed PayPal among its payment methods to buy apps and digital content. The partnership received positive comments from BofA/Merrill, RW Baird, and Stifel who said the relationship presents a large potential opportunity and could expand over time. eBay announced its PayPal President David Marcus was leaving the company to join Facebook (FB) and its senior engineering director April Chang was set to leave for Eventbrite. In light of the news, JMP Securities said PayPal had a deep bench and the hands-on management of eBay's CEO will enable the unit to maintain growth. Ahead of the Q2 report, Piper Jaffray remains positive on eBay, saying it sees limited downside due to low expectations. The firm said investors have become increasingly bearish on eBay over past few months given the security breach and a change in Google algorithm. However, Piper Jaffray sees these concerns as short term. PRICE ACTION: eBay shares have dropped more than 7.2% since the first day of trading following the company's Q1 report. In Wednesday midday trading ahead of its Q2 report, eBay shares are trading down fractionally.
News For EBAY From The Last 14 Days
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January 21, 2015
17:26 EDTEBAYCarl Icahn applauds new appointees to eBay board
In a letter, Icahn said the following: "Today we entered into an agreement with eBay whereby one of our representatives, Jonathan Christodoro, will join eBayís board of directors and have the ability to transition to PayPalís board once the spin-off occurs. eBay also agreed that PayPalís charter documents will contain a number of corporate governance provisions that we suggested and which we believe will greatly enhance shareholder value at PayPal. We believe the actions of eBayís board and management in crafting this agreement with us have marked a large step forward for corporate governance. The company reached out to us recently to discuss value enhancement generally, and our constructive conversations led to the mutual development of a governance structure going forward that we believe will better align the interests of shareholders, directors, management and other stakeholders." Reference Link
17:07 EDTEBAYeBay up 3.5% following Q4 results, guidance
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16:41 EDTEBAYeBay to explore strategic options for eBay Enterprise, including a sale or IPO
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16:30 EDTEBAYeBay appoints Perry Traquina, Frank Yeary to board of directors
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16:27 EDTEBAYeBay says total stock repurchase authorization $3B as of January 21
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16:26 EDTEBAYeBay says plans 'on track' to separate eBay, PayPal
The company said, "Looking ahead, our plans are on track to separate eBay and PayPal into independent companies in the second half of 2015, and we are confident this is the right strategic path for each business."
16:24 EDTEBAYeBay reports Q4 adjusted operating margin 27.7%
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16:21 EDTEBAYeBay reports mobile payment volume grew 58% in Q4
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16:20 EDTEBAYeBay enters standstill agreement with Carl Icahn
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16:18 EDTEBAYeBay to reduce workforce globally by approximately 7% in Q1
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16:17 EDTEBAYeBay sees FY15 adjusted EPS $3.05-$3.15, consensus $3.26
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16:16 EDTEBAYeBay sees Q1 adjusted EPS 68c-71c, consensus 76c
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16:15 EDTEBAYeBay reports Q4 adjusted EPS 90c, consensus 89c
Reports Q4 revenue $4.9B, consensus $4.93B.
15:27 EDTEBAYNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.38; Kinder Morgan (KMI), consensus 34c; eBay (EBAY), consensus 89c; Discover Financial Services (DFS), consensus $1.30; Crown Castle (CCI), consensus $1.05; Crown Castle (SNDK), consensus $1.27; Xilinx (XLNX), consensus 61c; F5 Networks (FFIV), consensus $1.49; United Rentals (URI), consensus $2.07; Plexus (PLXS), consensus 72c; Boston Private Financial Holdings (BPFH), consensus 22c; Dolby Laboratories (DLB), consensus 38c; SLM (SLM), consensus 5c; East West Bancorp (EWBC), consensus 65c; Raymond James Financial (RJF), consensus 86c; BancorpSouth (BXS), consensus 32c.
14:00 EDTEBAYeBay technical comments ahead of earnings, levels to watch
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13:38 EDTEBAYEarnings Preview: eBay shares rise over 5.5% since last earnings report
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11:34 EDTEBAYAmazon pulling plug on Amazon Wallet app beta, CNet reports
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January 20, 2015
13:19 EDTEBAYeBay volatility elevated into Q4 and outlook
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January 18, 2015
13:45 EDTEBAYGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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January 14, 2015
07:42 EDTEBAYEtsy looking to raise $300M with IPO as soon as this quarter, Bloomberg says
Etsy, which operates a website that allows people to sell handmade crafts, is working with Goldman Sachs (GS) and Morgan Stanley (MS) on an initial public offering that could come as soon as this quarter, said Bloomberg, citing people familiar with the matter. Etsy seeks to raise $300M via the offering, the report said. Publicly traded companies in the e-commerce space include Amazon.com (AMZN), eBay (EBAY), Alibaba (BABA) and zulily (ZU). Reference Link
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