Mizuho Securities Raises Price Target on eBay (EBAY) Following 2Q EPS Beat

Market Wrap: Nasdaq Hits Record on Tech Rally; Amazon has Last Laugh with Prime Day; TECO Energy Explores Sale

July 16, 2015 5:21 PM EDT

Market wrap for July 16th

End of the Day: S&P 500 up 16.9 to 2,124.29; Dow Jones up 70.1 to 18,120.25; Nasdaq up 64.2 to 5,163.18

Market Brief: U.S. markets gained early following a positive vote by Greece for a bailout plan approved by European creditors. Eurozone finance ministers are expected to approve the plan today and tomorrow.

The Nasdaq closed at a record high Thursday as overall sentiment behind Apple, Amazon, Netflix, and others remained positive.

Several big companies reported quarterly results on Thursday, including... More

eBay (EBAY) PT Lifted to $72 at Baird Following Solid Q2

July 16, 2015 4:01 PM EDT

Baird analyst Colin Sebastian reiterated an Outperform rating and boosted his price target on eBay (NASDAQ: EBAY) to $72.00 (from $69.00) after the company reported solid Q2 results, a bit ahead of expectation.

Sebastian "Marketplace growth accelerated slightly and PayPal continues to shine. Consistent with our... More

Notable Mergers and Acquisitions 7/16: (MGA) (EBAY) (EPD)/(GEL) (AXE)/(HDS)

July 16, 2015 9:52 AM EDT

* Magna Int'l (NYSE: MGA) has signed an agreement to acquire the Getrag Group of Companies ("Getrag"), one of the world's largest suppliers of automotive transmissions.

Getrag has an 80-year history in transmissions and is a technology leader, offering a range of transmission systems which include manual, automated-manual, dual-clutch, hybrid and other advanced systems. We believe the architecture of Getrag's product line is well-positioned to support current and future automotive powertrain configurations. In particular, Getrag is a leader in the growing market for dual-clutch transmissions ("DCTs"), which is expected... More

Pre-Open Stock Movers 07/16: (NFLX) (ANFI) (INTC) Higher; (ANR) (ROVI) (GRMN) Lower (more...)

July 16, 2015 9:30 AM EDT

Alpha Natural (NYSE: ANR) 36% LOWER; is in talks for a $300 to $400 million debtor in possession loan with senior bondholders and other loan holders, according to Dow Jones sources. The financing would be used if Alpha Natural filings for chapter 11... More

eBay (EBAY) to Sell eBay Enterprise Unit to Permira, Others in $925M Deal

July 16, 2015 8:03 AM EDT

(Updated - July 16, 2015 8:12 AM EDT)

eBay (NASDAQ: EBAY) to sell eBay Enterprise unit to Permira, others in $925 million deal.

UPDATE - The following press release was issued Thursday morning:

Permira, an international private equity firm, and Sterling Partners, a growth-oriented private equity firm, today announced that a consortium, consisting of Sterling Partners, Longview Asset... More

eBay (EBAY) Tops Q2 EPS by 4c

July 16, 2015 7:41 AM EDT

eBay (NASDAQ: EBAY) reported Q2 EPS of $0.76, $0.04 better than the analyst estimate of $0.72. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.49 billion.

PayPal net total payment volume (TPV) grew 20% in the second quarter to $66 billion, with Merchant Services volume up 27% and on-eBay volume down 1%. On an FX-neutral basis, PayPal TPV grew 28%, with Merchant Services volume up 36% and on-eBay volume up 6%. Payment volume through eBay Marketplaces was $14.5 billion, representing 22% of... More

Wall St. opens higher on strong quarterly reports

July 16, 2015 7:33 AM EDT

(UPDATED 10:20 AM ET)

By Tanya Agrawal

(Reuters) - Wall Street rose sharply on Thursday as the Greek parliament approved a bailout plan and bluechip companies such as Citigroup (NYSE: C), eBay (NASDAQ: EBAY) and Netflix (NASDAQ: NFLX) reported strong results.

After the Greek vote, the European Central Bank slightly raised its emergency funding for Greek banks to help them partially reopen after euro zone governments agreed in principle to grant Athens a new... More

Trading Radar for 7/16: Goldman Sachs (GS), Google (GOOGL), Citi (C), eBay (EBAY), UnitedHealth (UNH), AMD (AMD) Report

July 15, 2015 2:16 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EDT

Initial Claims - Street sees 283kContinuing Claims - Street sees 2.275M

Earnings:

Amira Nature Foods (NYSE: ANFI) - consensus EPS $0.49
BB&T Corp. (NYSE: BBT) - consensus EPS $0.69
Blackstone (NYSE: BX) - consensus EPS $0.50
Campus Crest Communities (NYSE: CCG) - consensus EPS $0.15
Citigroup (NYSE:... More

ITUS Corporation (ITUS) Enters Settlement and License Agreement with eBay, Other Companies

July 15, 2015 7:01 AM EDT

ITUS Corporation (NASDAQ: ITUS) has entered into a Settlement and License Agreement with eBay, Inc., 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... More