Categories Analysis, Technology

eBay leads S&P 500 index on Tuesday

By around 11 AM ET on Tuesday, eBay (EBAY) shares were trading up as much as 6.2%, leading the S&P 500 index, in its biggest rally in over 7 months.  Certain investors believe that the rally was spurred by a report by TheDeal.com that stated, citing a source close to the matter, that certain activist investors have expressed interest in the stock.

According to the report, either it could be Carl Icahn, who had previously forced the online marketplace platform to jettison payment services arm PayPal (PYPL) in 2015; or Daniel S. Loeb, the chief executive of New York-based Third Point Management.

ebay leads S&P500

In the first two hours of trading, volumes soared to 10.3 million shares, versus the average full-day trading volume seen by the stock of approximately 9.5 million shares.

eBay, which has shed 16% of its value in the trailing 12 months, closed over 1% in green on Monday. The stock had earlier in February soared to a record of $46.19, when it reported that it was taking over the remaining payment processing works from PayPal, with the help of a new partner, Adyen.

On a year-to-date basis, the stock has lost 14%, compared to a 7% rally by the S&P 500 Index.

Amazon ‘stealing’ eBay sellers?

eBay is scheduled to report third-quarter earnings on October 30, and investors will be looking at how much the online marketplace had been able to exploit the bullish sentiments in the e-commerce sphere to improve user base and volume.

Most Popular

American Express (AXP) Q2 2025 Earnings: Key financials and quarterly highlights

American Express Company (NYSE: AXP) reported its second quarter 2025 earnings results today. Consolidated total revenues, net of interest expense, were $17.9 billion, up 9% year-over-year, driven by increased Card

Netflix Q2 earnings jump on strong revenue growth; results beat estimates

Video streaming giant Netflix, Inc. (NASDAQ: NFLX) reported a sharp increase in revenue and profit for the second quarter of fiscal 2025. The numbers also beat analysts' estimates. The company's

Tesla Q2 Earnings Preview: Can energy gains offset EV demand Slump?

For Tesla Inc. (NASDAQ: TSLA), the new fiscal year has been quite challenging, with first-quarter sales falling to a three-year low amid production issues related to Model Y and increasing

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top