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Reuters Company NewsOct 19, 2018
UPDATE 4-Kansas City Southern profit soars, trade worry eases; shares climb
Railroad operator Kansas City Southern's quarterly profit jumped 34 percent, even after network congestion crimped operations in Mexico, where it has extensive services.

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UPDATE 3-Kansas City Southern profit soars, trade worry eases; shares climb (Reuters Company News)

MarketWatch MarketPulseOct 19, 2018
EBay's stock sinks toward 22-month low after PayPal suggests weak GMV trends, downgrade
Shares of eBay Inc. sank 3.7% in premarket trade Friday, putting them on track to open at the lowest level since January 2017, after the online marketplace was downgraded at Stifel Nicolaus, citing PayPal Holdings Inc.'s earnings release, which suggested weak third-qaurter gross merchandise volume (GMV) trends at eBay. Analyst Scott Devitt cut his rating to hold from buy, and slashed his price target to $35 from $43. PayPal suggested late Thursday that eBay's marketplace GMV rose 3.4% from a year ago, well below Devitt's estimate of 7.2% growth. "We further expect eBay's multi-year transition to the Adyen payments platform could be bumpy given the long history that buyers and sellers have working almost exclusively with PayPal on the eBay platform," Devitt wrote in a note to clients. EBay is scheduled to report third-quarter results after the Oct. 30 close. The stock has shed 7.5% over the past three months, while the S&P 500 has eased 1.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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