Moody's Downgrades eBay (EBAY) to 'Baa1' Following PayPal Spin
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Stand-Alone PayPal (PYPL) Gets Wall Street Love
July 20, 2015 10:02 AM EDTPayPal's (NASDAQ: PYPL) first day of 'regular way' trading following the eBay (NASDAQ: EBAY) spin-off is off to a good start. Shares of the online payment giant are up 5.9% to $40.65 shortly after the opening of trading, which puts the market cap above $50 billion.
A number of Wall Street firm's launched stand-alone coverage on the stock amid the debut - all but one was positive.
SunTrust Robinson Humphrey analyst Bob Peck, who launched with a... More
PayPal valued at about $50 billion ahead of market debut
July 20, 2015 9:38 AM EDT
By Devika Krishna Kumar and Mari Saito
(Reuters) - PayPal Holdings Inc (Nasdaq: PYPL) shares rose 5.9 percent in premarket trading, ahead of their highly anticipated return to the Nasdaq, valuing the company at about $50 billion.
PayPal, spun off from eBay Inc (Nasdaq: EBAY), is widely expected to build partnerships with e-commerce rivals and try to seize market share from startups such as Stripe and Square and technology behemoth Apple Inc (Nasdaq: AAPL), which unveiled its own mobile payments... More
UPDATE: S&P Downgrades eBay (EBAY) to 'BBB+'; Reflects 'Satisfactory' Business Profile
July 20, 2015 9:18 AM EDT(Updated - July 20, 2015 9:31 AM EDT)
Highlights:
eBay Inc. is completing its planned separation of its PayPal segment into an independent company through a tax-free transaction.We are lowering our corporate credit rating on eBay Inc. to 'BBB+' from 'A' and removing the rating from CreditWatch with negative implications.We are also lowering the issue-level rating on the company's senior unsecured debt to 'BBB+' from 'A' and our commercial paper rating to 'A-2' from 'A-1', and removing the ratings from CreditWatch with negative implications.The lower ratings reflect... More