Diamonds and Dogs
Spin-offs going in different directions. eBay (EBAY) is jumping 6% following better than expected earnings. Revenue rose 9.1% year over year to $2.61 billion. The company is raising guidance for the first quarter and for the full year. eBay's board of directors authorized an additional $6.0 billion stock repurchase program. Plenty of upgrades with price targets of $41, $50, $53, $53.
The other spin-off, PayPal (PYPL) is lower following earnings. PayPal is down 7% following better than expected earnings. Earnings came in at 55 cents a share, 3 cents better than expected. Revenues rose 25.6% year over year to $3.74 billion. The company issued inline guidance for the current quarter and full year, but after running up 100% in the last year, investors were looking for more. A number of analysts reiterated hold ratings on the stock.