eBay Inc (NASDAQ:EBAY) | U.S. settles with eBay over pact to not poach employees

eBay Inc (NASDAQ:EBAY) [Reuters] – The online auction company eBay Inc has settled a lawsuit with the U.S. Justice Department by agreeing to refrain from making deals with other technology companies to not poach employees, according to court papers filed on Thursday. In the lawsuit, filed in 2012, eBay and Intuit Inc were accused of agreeing not to recruit each others’ employees, the Justice Department said in a news release. “EBay’s agreement with Intuit served no purpose but to limit competition between the two firms for employees, distorting the labor market and causing employees to lose opportunities for better jobs and higher pay,” said Bill Baer, assistant attorney general for antitrust at the Justice Department.
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eBay Inc. (EBAY), valued at $66.95B, opened this morning at $52.31.
 
Today, shares have traded between $51.68 and $52.75 per share and has traded between $48.06 and $59.70 over the past year.
 
Priced at 17.28x this year’s forecasted earnings, EBAY shares are relatively expensive compared to the industry’s 16.57x forward p/e ratio.
 

 
According to a consensus of 38 analysts, the earnings estimate of $0.69 per share would be $0.06 better than the year-ago quarter and a $0.01 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.00, which would be a $0.29 better when compared to the last year’s annual results.
 
The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.40 Billion. If reported, that would be a 13.40% increase over the year-ago quarter.
 
In terms of ratings, Stifel downgraded EBAY from Buy to Hold (Jan 23, 2014). Previously, CRT Capital Initiated EBAY at to Fair Value.
 
The average price target for EBAY shares is $62.00, which is 18.52% above where the stock opened this morning.
 
Summary (NASDAQ:EBAY) :  eBay Inc. provides online platforms, tools, and services to help individuals and merchants in online and mobile commerce and payments in the United States and internationally. Its Marketplaces segment operates ecommerce platform eBay.com; vertical shopping sites, such as StubHub, Fashion, Motors, and Half.com; and classifieds Websites, including Den Blå Avis, BilBasen, Gumtree, Kijiji, LoQUo, Marktplaats.nl, mobile.de, Alamaula, eBay Anuncios, eBay Kleinanzeigen, and eBay Annunci, as well as provides advertising services. This segment also provides RedLaser to facilitate mobile commerce; Milo to enable search for goods at local retailers; WHI to offer an ecatalog of motor parts and accessories; and Hunch to improve search and merchandising based on customers’ needs and tastes. The company’s Payments segment offers payment and settlement services for consumers and merchants on and off eBay Websites and other merchant Websites. This segment operates PayPal, which enables individuals and businesses to send and receive payments online and through mobile devices; Bill Me Later that enables the United States merchants to offer, the United States consumers to obtain, credit at the point of sale for ecommerce and mobile transactions; Zong, which allows users with mobile phones to purchase digital goods and have the transactions charged to their phone bill; and BillSAFE that enables customers pay for purchases upon receipt of an invoice. Its GSI segment offers an ecommerce services suite for enterprise clients that operate in general merchandise categories, including apparel, sporting goods, toys and baby, health and beauty, and home; and marketing services comprising digital agency, enterprise email marketing, mobile advertising, affiliate marketing, online advertisement retargeting, and in-depth analytics services. The company also operates an open platform for merchants and developers. eBay Inc. was founded in 1995 and is headquartered in San Jose, California.
 
Tag Helper ~ Stock Code: EBAY | Common Company name: eBay | Full Company name: eBay Inc (NASDAQ:EBAY) .

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