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Tuesday, September 30, 2014

Third Point hedge fund has big EBay stake, talked with CEO-source, (NASDAQ: EBAY)

Hedge fund manager Daniel Loeb's Third Point LLC has taken a "significant" stake in online marketplace EBay Inc and had discussions with its chief executive officer, a source familiar with the matter said on Tuesday. The company announced earlier on Tuesday that it agreed to spin off its PayPal unit. Activist investor Carl Icahn had pushed to company to take this step months ago.

eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY traded higher by 7.21% or $3.795/share to $56.46. In the past year, the shares have traded as low as $48.06 and as high as $59.70. On average, 12375400 shares of EBAY exchange hands on a given day and today's volume is recorded at 48686280.