eBay's (EBAY) PayPal, VeriFone (PAY) Enter Licensing Deal; EBAY Moving Higher
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Trading in eBay (Nasdaq: EBAY) shares is heavy Thursday morning as investors are responding to an earlier release disclosing a licensing, marketing and implementation pact between the company's PayPal unit and VeriFone (NYSE: PAY). The agreement will allow consumers to be able to pay for purchases at participating large retailers by using a PayPal Access card and PIN or entering a phone number and PIN on certain VeriFone systems. Importantly, the initiative will be implemented before the 2012 holiday shopping season.
eBay shares last traded at $40.10, up more than 1 percent from Wednesday's close. Shares of VeriFone are now trading down about 1.4 percent after gapping higher at this morning's open.
Ahead of 11:30am ET, about 8.5 million shares of eBay have already changed hands, compared to the stock's daily volume average of about 13.5 million.
eBay shares last traded at $40.10, up more than 1 percent from Wednesday's close. Shares of VeriFone are now trading down about 1.4 percent after gapping higher at this morning's open.
Ahead of 11:30am ET, about 8.5 million shares of eBay have already changed hands, compared to the stock's daily volume average of about 13.5 million.
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