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The electronic payment company allowed users to put their money they earned from their PayPal transactions in a Money Market Fund to accumulate interest. Customers also had the option to have their free cash balances swept into th
PayPal is closing down its Money Market Fund on July 29 of this year.
The comments came at a meeting today with analysts.
EBay shares are up 7.26%, or $2.32, to $34.27.
Shares of EBay (EBAY) are higher after Bloomberg reported that Ebay President Scott Thompson said that the company's PayPal unit would double its revenue to $6 billion to $7 billion by 2013.
For Q1, the company said it expects EPS of 44-46 cents (vs. estimates of 45 cents) and sees sales of $2.4-$2.5 billion (vs. $2.43 billion estimate. For 2011, eBay said it sees EPS of $1.90-$1.95 (vs. $1.85 estimate) on sales of $1
Online auction house eBay (NASDAQ:EBAY) reported Q4 EPS of 52 cents, topping consensus estimates of 47 cents. Revenue in the quarter rose to $2.495 billion, inline with analyst estimates.
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Shares of Zimmer (NYSE:ZMH) traded today at $81.72, breaking its 52-week high. This ne ...
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Shares of Yingli Green Energy (NYSE:YGE) traded at a new 52-week high today of $4.83. ...
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Shares of Crosstex Energy (NASDAQ:XTEX) traded today at $21.15, breaking its 52-week hi ...
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Shares of Washington Real Estate Investment Trust (NYSE:WRE) traded at a new 52-week hi ...
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Weatherford International (NYSE:WFT) traded today at a new 52-week high of $14.46. Thi ...
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Waste Connections (NYSE:WCN) traded today at a new 52-week high of $40.70. So far toda ...
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Shares of USANA Health Sciences (NYSE:USNA) traded at a new 52-week high today of $68.9 ...
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Umpqua Holdings (NASDAQ:UMPQ) traded today at a new 52-week high of $13.91. Approximat ...
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
