EBay reports 4Q profit and revenue decline amid recession
San Jose based eBay Inc reports 4Q earnings of 367 million dollars 29 cents per share down from 531 million 39 cents prior year revenue falls 6 percent to 2.04 billion missing 2.12 billion forecast Marketplaces revenue drops 15 percent to 1.27 billion PayPal revenue rises 11 percent to 623 million active users climb 4 percent to 86.3 million CEO John Donahoe cites macroeconomy and stronger dollar as causes.
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John Donahoe
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Wall Street Rebounds On Positive Bank And IBM News
Wall Street recovered from Tuesday’s sell-off led by gains in financial stocks. The Dow rose over 275 points and major indices climbed more than 3.5 percent as IBM beat earnings forecasts and LM Ericsson topped estimates.
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Oil prices rise after solid Wall Street session
Oil prices gained over 6 percent as strong Wall Street performance offset a looming government report showing rising U.S. crude inventories. Light, sweet crude settled at 43.55 a barrel on the Nymex amid a Dow surge of 279 points.
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