Ebay Shares Fell 3.2% After Issuing Weak Q4 Guidance (EBAY)
Thu. October 22, 2009; Posted: 11:56 AM
Oct 22, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/22/2009 - Ebay (NASDAQ:EBAY) shares fell 3.2% in early trading Thursday after the company reported a drop in Q3 earnings and issued a disappointing forecast for Q4. Analysts feel that expectations had become to high for a company that is in the process of turning around its marketplace business. An analyst with Bernstein Research, Jeff Lindsay, said, "We think the sell-off was an over-reaction from buyers who had already enjoyed the stock's very positive run since March, and we remain positive on the stock as the underlying turnaround progressed faster than expected." The company said it sees Q4 EPS of 38 cents to 40 cents, vs. the consensus estimates of 40 cents.
Write to Chip Brian at cbrian@tradethetrend.com
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