EBay (EBAY) stock fell Tuesday after the company revealed last Monday that PayPal President David Marcus is leaving to lead Facebook’s messaging business. Facebook stock rose. EBay CEO John Donahoe said in a blog post that Marcus is leaving at the end of June to lead Facebook’s (FB) booming messaging products business. Donahoe said PayPal’s leadership team will report to him until a replacement for Marcus is named. Marcus’ departure comes two
Apple (AAPL) could be building closer ties to credit-card companies Visa (V), MasterCard (MA), and American Express (AXP) as it readies a move into the mobile payments market with the iPhone 6 launch. Apple’s move challenges both e-Bay’s (EBAY) PayPal and retail consortium MCX, Morgan Stanley says in a report. Banks, credit-card networks, wireless phone companies and Web giants such as Google (GOOGL) aim to win over consumers to “digital wallet”
EBay stock was down 5% in morning trading in the stock market today after the payments and e-commerce powerhouse late Tuesday reported mixed Q1 results that showed weakness in its U.S. Marketplaces business. Moreover, the company’s Q2 guidance missed Wall Street views. San Jose, Calif.-based eBay (EBAY)reported earnings per share minus items of 70 cents, up 11.1% from the year-earlier quarter and 3 cents above the consensus estimate of 40 analysts