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EBAY

eBay Inc.

5/20/2013, 2:18 AM ET

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Friday, May 17, 2:38 PM Amazon (AMZN +1.5%) and eBay (EBAY +1.9%) are outperforming after mid-May U.S. consumer confidence numbers blow past expectations. Of course, it was European sales (I, II), rather than U.S. sales, that put investors in both companies on edge following their Q1 reports. 1 Comment [Tech, Consumer]
Thursday, May 16, 10:25 AM eBay (EBAY -0.2%) roundup: 1) Google (GOOG) is adding the ability to attach money transfers to Gmail messages (via Google Wallet). Though unlikely to have a big impact on PayPal's merchant transactions, this move could allow Google to grab a chunk of the market for more informal online payments (particularly consumer-to-consumer), given Gmail's huge reach. 2) CTO Mark Carges recently sold 111K shares at $55.53. 3) Lazard has launched coverage with a Buy and $55 PT. Comment! [Tech, Consumer]
Wednesday, May 15, 1:51 PM Perhaps take it with a grain of salt, but a surprising 44% of consumers responding to a survey on the impact of an online sales tax say they will buy less items online if the legislation is passed into law. The number rises to 75% for the 18-year to 25-year old demographic (ZUMZ, ANF, URBN, ARO, BKE, VRA). Though seemingly a bad development for Amazon (AMZN -0.6%) and eBay (EBAY), many retail analysts thinks those shopping habits are pretty hard to break. 5 Comments [Consumer]
Tuesday, May 14, 1:49 PM PayPal (EBAY) is pulling out all the stops to challenge Square in the iPad cash register space: it's now offering free payment processing for 2013 to any U.S. business that exchanges a register for a PayPal Here solution, which includes a stand, cash drawer, and printer. Meanwhile, Square is rolling out a $299 stand/card swiper for its iPad solution, and Groupon (GRPN) is launching a register app, rebranding its mobile payments unit (includes a restaurant app) as Breadcrumb, and offering $5K in free payment processing to new clients. VeriFone (PAY) and NCR, whose traditional offerings are threatened by the likes of Square, also offer iPad point-of-sale solutions, as does NetSuite's (N) Retail Anywhere unit. 1 Comment [Tech, Consumer]
Tuesday, May 7, 12:30 PM The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose. 1 Comment [Consumer, U.S. Economy]
Tuesday, May 7, 10:18 AM eBay (EBAY -1.2%) saw same-store sales increase 20.5% Y/Y in April, up from a 19.2% rip in March, according to ChannelAdvisor. Fixed-price sales increased 18.8% while the phased-out auctions saw sales decline 7.2%. Improved weather helped eBay Motors increase sales 34% as milder weather prompted more consumers to buy auto parts and accessories online. Comment! [Consumer]
Monday, May 6, 7:17 PM Following Amazon's lead, eBay (EBAY) is about to create a targeted display ad platform that will let advertisers push ads on 3rd-party sites by leveraging the browsing/search histories of users. A pilot program is already underway in the U.K. Together with the Shopping.com revamp, eBay seems to have finally gotten serious about the e-commerce ad space. Google and Facebook also offer targeted display ad platforms. Comment! [Tech, Consumer]
Monday, May 6, 9:31 AM PayPal is looking at ways to use Bitcoin, eBay (EBAY) CEO John Donahoe tells the WSJ. "It’s a new disruptive technology ... There may be ways to enable it inside PayPal." The comments appear responsible for a 32% jump in the volatile virtual currency's price to $122.90. Given the total value of outstanding Bitcoins is still only around $1.3B, and PayPal's total payment volume for Q1 was $41B, Bitcoin is unlikely to move the needle much near-term. But PayPal's support for the currency would give it some legitimacy, and give PayPal some good PR as it tries to fend off hungry upstarts. 2 Comments [Tech, Consumer]
Monday, May 6, 5:20 AM The Senate looks poised to approve a bill today that would force online merchants to collect sales tax on Internet transactions. However, the measure will probably hit greater opposition in the House, where the leadership appears to be ambivalent, with Speaker John Boehner taking no public position. Companies in favor include Wal-Mart (WMT) and Amazon (AMZN), while those against include News Corp (NWS) and eBay (EBAY). 2 Comments [Consumer, Top Stories]
Friday, May 3, 11:14 AM It looks like Qiwi's (QIWI) IPO was priced just right (though some buyers may disagree). After pricing its 12.5M-share offering at $17, the Russian online payments leader opened at $17.13 and is currently at $17.17, up 1%. That gives Qiwi a valuation of $879M, or 33x its 2012 net income. Qiwi competes with Yandex.money - Yandex (YNDX) recently sold a 75% stake in the business to Sberbank for $60M. PayPal (EBAY) isn't a major rival right now, but that might change, given it recently won approval to function as a non-credit banking institution in Russia. (F-1) (financial data) Comment! [Tech]
Wednesday, May 1, 11:17 AM eBay (EBAY -0.2%) roundup: 1) PayPal and Discover (DFS) have signed deals with 50 merchant acquirers; this will allow PayPal to be an option at 2M+ merchant outlets by year's end vs. 250K today. The Discover partnership went live last month. 2) CEO John Donahoe insists eBay isn't opposed to an Internet sales tax (previous), but wants an out-of-state annual sales threshold of $10M (exempting most Marketplaces merchants) vs. the proposed $1M. 3) Looking to fight off upstarts such as Stripe, PayPal is making it easier to login/pay at multiple merchant sites. 4) Wal-Mart continues to resist PayPal's offline efforts, arguing "the added complexity at the point of sale does not justify acceptance of PayPal." 1 Comment [Tech, Consumer, Financials]
Wednesday, April 24, 1:42 PM An upgrade to Outperform from Wells Fargo helps eBay (EBAY +1%) recoup some of last week's post-earnings losses. The firm is pleased Marketplaces is now growing in-line with the broader e-commerce industry (previous), if not faster, and (in what isn't exactly a bold prediction) expects PayPal to "emerge as a winner and one of the biggest players in the [mobile] wallet space." The sell-side showed eBay plenty of love earlier this month, following its bullish analyst day forecasts. 1 Comment [Tech, Consumer]
Tuesday, April 23, 6:19 AM The Senate yesterday voted 74-20 to limit debate on legislation that would force retailers to collect taxes for online sales, opening the way for a final vote on the measure, which could take place this week. The White House officially backed the bill for the first time, although its prospects in the House are uncertain even if its passes the Senate. Comment! [Consumer]
Monday, April 22, 6:44 AM The Senate is expected to this week vote on a bill that would allow states to force Internet retailers to collect sales tax. The Senate has already voted 75-24 in favor of a non-binding resolution that backs the idea, helped by increasing support from GOP governors who like the thought of billions of dollars in more revenue. Amazon (AMZN) is in favor of the legislation, although eBay (EBAY) opposes it, saying it will add extra burdens to small businesses. 2 Comments [Consumer]
Thursday, April 18, 1:12 PM A revenue miss, light Q2 guidance, and a downgrade to Neutral from Macquarie are leading eBay (EBAY -5.4%) to take a post-earnings breather. During the earnings call, eBay mentioned "a weaker Europe and British pound" are weighing on results, and that new users (of which eBay has been adding plenty) "have a tendency to be less engaged at the early stages of their lifecycle." Needham is staying positive, arguing the user growth will drive a 2H revenue pickup. Touting mobile's potential, eBay claims "multiscreen users buy twice as much as non-multiscreen." 2 Comments [Tech, Consumer, Earnings, On the Move]
Wednesday, April 17, 5:45 PM After-hours top gainers, as of 5:15 p.m.: CONE +9%. SLCA +4%. MXIM +4%. LNC +4%. MHR +3%.
After-hours top losers: SCSS -7%. CCK -4%. SNDK -3%. NAVB -3%. EBAY -2%. Comment! [On the Move]

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