38.10 -0.10 (-0.26%)
After hours: 7:59PM EST
|Bid||38.03 x 1200|
|Ask||38.40 x 1000|
|Day's Range||37.15 - 38.94|
|52 Week Range||33.53 - 42.00|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||18.25|
|Earnings Date||Apr 20, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||0.64 (1.70%)|
|Ex-Dividend Date||Feb 27, 2020|
|1y Target Est||38.91|
Earlier on Friday, the Wall Street Journal reported eBay is reaching out to potential buyers to sell its classified-ads business, which could be worth roughly $10 billion. Activist shareholder Starboard had sent a letter to eBay's board, saying the company has not made enough progress in its plan to separate its classifieds business.
(Bloomberg) -- EBay Inc. said it’s in active talks with multiple parties about a potential transaction for its classified-ads business, responding to pressure from activist investors to improve its performance by focusing on its main online marketplace.The San Jose, California-based company, which has been conducting a broader strategic review of its businesses, said it will have an update on the process by the middle of the year. Dow Jones reported earlier Friday that EBay was taking steps toward a sale of the classifieds unit.“EBay’s Board and management are committed to driving significant returns to shareholders by maximizing the value of Classifieds and positioning our Marketplace business for long-term success,” interim Chief Executive Officer Scott Schenkel said in a statement. “We are acting with urgency while focusing on the ultimate objective of maximizing the value of Classifieds.”In November, the company announced the sale of ticket marketplace StubHub to European rival Viagogo for $4.05 billion in cash. Activists Starboard Value and Elliott Management Corp. last year proposed a plan to improve EBay’s performance, including a sale of StubHub and the classifieds business.To contact the reporter on this story: Jillian Ward in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today issued the following statement regarding the previously announced strategic review of eBay's Classifieds Group ("Classifieds").
The Wall Street Journal reported Friday that eBay is seeking bids for its Classifieds Group after a year of urging from activist investors, citing unnamed sources.
EBay shares rose Friday after a report that the online marketplace is moving to sell its classified-ads business, potentially for $10 billion. For more than a year investors have been pushing eBay to dump the classifieds division and ticket broker StubHub. In December, eBay announced a deal to sell StubHub to Viagogo for $4 billion.
Ebay Inc. stock rose 2.6% in Friday trading after a report from The Wall Street Journal said there's potential for a sale of the e-commerce company's classified ad business. The business could be worth about $10 billion. Sources say a number of groups have shown an interest in the business, including private-equity firms TPG and Blackstone Group Inc. The business operates mostly outside of the U.S. Without the classified arm, eBay would be left mostly with its core retail business. Ebay stock has gained 4.6% over the past year while the S&P 500 index is up 20.5% for the period.
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The S&P 500 ended modestly higher on Friday following strong earnings from Nvidia and a report late in the session that the White House was considering a tax incentive for Americans to buy stocks. Uncertainties surrounding the coronavirus epidemic and downbeat economic data had put a damper on investor sentiment for much of the day.
Wall Street edged lower on Friday as uncertainties surrounding the coronavirus epidemic and downbeat economic data put a damper on investor sentiment. While the S&P 500 and the Nasdaq were down only modestly, the industrials-heavy Dow suffered a larger decline.
The S&P 500 and the Dow barely moved on Friday, as worries over an economic hit from the coronavirus outbreak refrained investors from making big bets ahead of a long weekend, while gains in Nvidia shares kept the Nasdaq in positive territory. Adding to the downbeat sentiment were a Commerce Department retail sales report showing consumer spending likely slowed further in January and data indicating industrial production fell more than expected last month.
U.S. stock index futures rose on Friday, lifted by a handful of positive earnings reports, while investors kept a close watch on retail sales data and assessed the economic fallout of the coronavirus outbreak. Nvidia Corp jumped 6.4% in premarket trading as it forecast first-quarter revenue that topped analysts' expectations, reinforcing expectations of a rebound in chip demand. Shares of rival Intel Corp rose 0.6%, while Advanced Micro Devices Inc gained 1.6%.
EBay expects to post first-quarter adjusted profit of between 72 cents and 75 cents, while analysts are expecting 72 cents, according to Refinitiv data. The outlook reflects the benefit of share buybacks and investment timing, offset by the impact of the StubHub sale, the company said. In November 2019, the company agreed to sell StubHub to Viagogo Ltd for $4.05 billion nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.
eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that it has completed the sale of StubHub to viagogo for $4.05 billion in cash.
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Google will on Wednesday seek to overturn the first of three hefty European Union antitrust fines at Europe's second-highest court in a landmark case that could determine how EU enforcers take on U.S. tech giants for abuse of market power. EU regulators said this penalty was for Google's favouring its own price comparison shopping service to the disadvantage of smaller European rivals. The EU has fined Google a total of 8.25 billion euros in three separate cases, including one involving its Android smartphone operating system.