A few links to close out a busy month: The WSJ notes that since the spinoff of PayPal (PYPL), EBay’s (EBAY) post-earnings stock price volatility has increased dramatically. Prior to last week’s announcement, the name had moved double digit percentages in four of the previous five announcements – that is some serious movement. As possible reasons, the article… Read More »
One of the highlights of the ‘Summer of Spin’ was eBay’s (EBAY) spin off of payments processor PayPal (PYPL). Several activists had been pushing hard for the spin, including Carl Icahn, who at one point, engaged in a heated war of words with the company and then CEO John Donahoe. Although he ultimately struck a deal with a… Read More »
One the most anticipated spinoffs during the Summer of Spin was eBay’s (EBAY) spinoff of PayPal (PYPL). Both activists (Carl Icahn) and tech kings (Elon Musk) urged the company to make the move, but it didn’t help the initial performance as the stock took a slight dive in its first few days of trading. A few days of… Read More »
eBays’ (EBAY) long awaited spinoff of Paypal (PYPL) will be completed after the close today and the first day of trading for the new company will be Monday, July 20th. The breakup idea goes back a looooong way and was actually the subject of one of our first articles. EBAY shareholders should receive one share of PYPL for… Read More »
What a week for spinoffs. Truly historic. Beginning on Monday with TEGNA (TGNA)/Gannett (GCI), the ‘Summer of Spin’ crescendoed yesterday with the completion of six more spins: DuPont (DD) spun off its performance chemicals unit (including Teflon) into Chemours (CC). The new company told investors it plans on paying out a stable dividend, which is somewhat unusual for such… Read More »