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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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July 16, 2015
09:08 EDTEBAYOn The Fly: Pre-market Movers
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08:59 EDTEBAYeBay says may ramp up marketing 'a little more aggressively' this holiday season
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08:21 EDTEBAYeBay up 2.9% to $65.25 following Q2 earnings beat
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08:13 EDTEBAYSterling Partners, Permira funds to acquire eBay Enterprise for $925M
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08:11 EDTEBAYeBay expects sale of eBay Enterprise to close in second half of year
Comment from Q2 earnings conference call.
08:08 EDTEBAYeBay to sell eBay Enterprise unit to Permira group for $925M
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08:03 EDTEBAYeBay says $300M revenue impact from eBay Enterprise discontinuation in Q2
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08:00 EDTEBAYeBay sees Q3 EPS 38c-40c
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07:53 EDTEBAYeBay CEO says PayPal, eBay both delivered 'strong Q2 results'
"We are very pleased with our overall Q2 performance. PayPal and eBay both delivered strong Q2 results and have strong momentum. Dan, Devin and their respective teams are executing well and are prepared to create the next great chapter for PayPal and eBay," said eBay Inc. President and CEO John Donahoe. eBay gross merchandise volume, or GMV, growth on an FX neutral basis accelerated 1 point over the prior period to 6% and net total payment volume growth accelerated 3 points to 28%. On a year over year basis, foreign currency movements continued to have a negative effect, impacting the revenue growth rate of the eBay Marketplaces business by 8 points and the revenue growth rate of PayPalís business by 3 points, with benefits from currency hedging partially offsetting the impact at PayPal. Additionally, weaker local currencies in some markets led to reduced demand for goods in export-oriented markets like the United States, impacting the growth of its cross border trade for eBay Marketplaces and PayPal, the company said.
07:50 EDTEBAYeBay sees FY15 EPS $1.72-$1.77, PayPal sees FY15 EPS $1.23-$1.27
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07:48 EDTEBAYeBay says board authorized sale of eBay Enterprise
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07:47 EDTEBAYeBay announces additional $1B stock repurchase authorization
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07:44 EDTEBAYeBay announces additional $1B stock repurchase authorization
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07:42 EDTEBAYeBay reports Q2 EPS 76c, consensus 72c
Reports Q2 revenue $4.38B, consensus $4.49B. Reports total payment volume of $66B and gross merchandise volume, or GMV, of $20B. Reports Payments revenue of $2.26B and Marketplaces revenue of $2.12B.
07:03 EDTEBAYeBay July volatility elevated into Q2 and outlook
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06:10 EDTEBAYeBay close to deal to sell eBay Enterprise to Permira-led group, WSJ reports
EBay (EBAY) is nearing an agreement to sell its eBay Enterprise unit to a group led by Permira for around $900M, The Wall Street Journal reports, citing people familiar with the situation. The deal could be announced as early as today, the report says, adding that the sale of the unit could end up "around $925M." The company is planning to complete the spinoff of PayPal (PYPL) on Friday. Reference Link
July 15, 2015
14:53 EDTEBAYNotable companies reporting before tomorrow's open
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14:02 EDTEBAYeBay technical notes ahead of earnings, levels to watch
The shares broke out of a long base in April of this year that had begun forming in January 2013. The breakout level was at $60. If the news continues to be bullish, a projection forward of the bullish price channel suggests a move to $70 would be possible. If the news is a bearish surprise, the $60 level is the first big test of support. A breakdown back below that area would put an end to the current breakout. Next support below would be at $57.59, which is the 10-month moving average and a good proxy for the low of the current bullish price channel.
13:23 EDTEBAYGoogle unveils Purchases on Google, other shopping features
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07:04 EDTEBAYITUS enters into settlement and license agreement with eBay, Vendio, Auctiva
ITUS (ITUS) announced that its wholly owned subsidiary, Auction Acceleration Corporation, has entered into a Settlement and License Agreement with eBay (EBAY), Auctiva, LLC, and Vendio Services, LLC. The Settlement and License Agreement resolves a lawsuit between the parties that was filed on September 8, 2014 in The United States District Court for the Northern District of California, which will be dismissed. AAC owns the rights to patents that cover presentation and cross selling technologies enabling auction sellers to cross-sell and upsell additional items to interested buyers, resulting in incremental sales and higher yields per transaction.
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