Last $54.88 USD
Change Today -0.62 / -1.12%
Volume 11.2M
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As of 8:10 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

ebay inc (EBAY) Key Developments

Bidder Reportedly Eyes Stake In ASOS

US bidder are eyeing a stake in ASOS plc (AIM:ASC). eBay Inc. (NasdaqGS:EBAY) and Amazon.com Inc. (NasdaqGS:AMZN) are believed to be interested in ASOS. BESTSELLER A/S is also understood to have been approached. ASOS shares rose 19.4% to £28.04 on August 27, 2014.

Rue La La Reportedly Up For Slae

Rue La La, Inc. which counts eBay Inc. (NasdaqGS:EBAY) as an investor, is exploring a sale that could value Rue La La at around $400 million, people familiar with the matter said. Rue La La, which has attracted interest from Gilt Groupe, Inc. has hired JPMorgan Chase & Co to advise a potential sale, the people said. Representatives for Rue La La and Gilt Groupe did not immediately respond to requests for comment. JPMorgan declined to comment.

An Individual Files Class Action Lawsuit Against eBay

An individual from Louisiana, US, has filed a class action lawsuit against eBay over supposedly failing to secure consumers' private information leading, which led to a data breach. The firm was hacked in February, while it notified users in May about the attack that compromised a database with sensitive information including consumer names, email Ids, physical addresses, phone numbers, dates of birth and passwords. The individual has also alleged that the type of data collected and stored by the e-commerce firm via consumers' credit card, shipping and geo-location data to statistics on page views, mobile phone numbers and community discussions, could be used for identity theft. eBay's alleged failure to appropriately secure the sensitive information 'has caused, and is continuing to cause, damage to its customers, the putative class members herein', according to the lawsuit filed in the US District Court for the Eastern District of Louisiana.

LVMH and eBay Reach an Agreement to End Years-Long Legal Battle over the Sale of Counterfeit Goods

LVMH and eBay said they had reached an agreement to end a years-long legal battle over the sale of counterfeit goods. A cryptic joint statement gave no details of the deal but simply said it was aimed at protecting intellectual property rights and fighting the sale of counterfeits online. The agreement meant that the two firms have put an end to ongoing legal proceedings. A host of perfume and cosmetic brands under the LVMH umbrella, including Christian Dior, Givenchy and Guerlain, had sued eBay for allegedly allowing online trade in counterfeits.

eBay Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter Ended September 30, 2014 and Full Year Ending December 31, 2014

eBay Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported income from operations of $794,000, income before income taxes of $803,000, net income of $676,000 or $0.53 diluted per share on net revenues of $4,366,000 against income from operations of $750,000, income before income taxes of $756,000, net income of $640,000 or $0.49 diluted per share on net revenues of $3,877,000 for the same period a year ago. Net cash provided by operating activities of $1,494,000 against $1,011,000 for the same period a year ago. Purchases of property and equipment were $269,000 against $353,000 for the same period a year ago. Non-GAAP net income was $868,000 or $0.69 per share against $822,000 or $0.63 per share for the same period a year ago. The company generated $1.2 billion of free cash flow. Second quarter non-GAAP EPS was $0.69, up 9%, which was driven by solid top line growth, good productivity, the stock buyback and the weaker dollar, which were partially offset by a lower take rate. For the six months, the company reported income from operations of $1,672,000, income before income taxes of $1,676,000, net loss of $1,650,000 or $1.30 diluted loss per share on net revenues of $8,628,000 against income from operations of $1,550,000, income before income taxes of $1,565,000, net income of $1,317,000 or $1.00 diluted per share on net revenues of $7,625,000 for the same period a year ago. Net cash provided by operating activities of $2,668,000 against $1,948,000 for the same period a year ago. Purchases of property and equipment were $475,000 against $652,000 for the same period a year ago. The company provides earnings guidance for the third quarter ended September 30, 2014 and full year ending December 31, 2014. For the third quarter, the company expects GAAP diluted EPS of $0.51 - $0.53 on net revenue of $4,300 million - $4,400 million. Non-GAAP was $0.65 - $0.67 on net revenue of $4,300 million - $4,400 million. For the full year, the company expects GAAP diluted EPS of $0.04 - $0.09 on net revenue of $18,000 million - $18,300 million. Non-GAAP was $2.95 - $3.00 on net revenue of $18,000 million - $18,300 million. The company continues to expect full year CapEx to be 7% to 9% of revenue.

 

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