eBay Rises On Bank Of America’s Support
eBay’s back – back at early January levels, that is. The company’s stock dug itself out of a rut after Bank of America analysts expressed their confidence in almost across-the-board fashion.
eBay Makes Come Back
Listings growth, earnings per share, overall revenue – Brian Pitz and Brian Fitzgerald feel eBay will beat earlier estimates in every area. The price target – $38 – remained the same, and so did their "buy" rating, but the other details seem to have been enough to spur investors on.
eBay‘s currently sitting at $31.01, up 5.23 percent for the day. This rise has taken place even as the Nasdaq’s gone down 1.26 percent so far. The Dow’s down 0.56 percent. Eric Savitz summed things up by writing, "Well, at least someone is having a good quarter."
eBay’s not on top of the world, of course – it’s still adjusting to the idea of a new CEO, and some sellers remain upset over fee changes. There’s also that pesky Tiffany case to worry about.
Yet Google, Yahoo, Microsoft, and Amazon – along with about every other company we regularly cover, actually – are all in the red right now, and there’s something to be said for being on top of the moment.