The S&P 500 fell 8.22 points, or 0.59%, Thursday to 1,376.92.
Shares of eBay rose 13.24% Thursday to $40.62. The online marketplace operator reported after the close on Wednesday first-quarter earnings of $725 million, or 55 cents a share. Analysts, on average, expected 52 cents a share in earnings.
The stock hit a 52-week high Thursday of $41.84. eBay's 52-week low of $26.86 was set on Aug. 19.eBay shares trade at an estimated price-to-earnings ratio for next year of 15.18X; the average for specialized consumer service companies is 15.31X. Twenty-four of the 35 analysts who cover eBay rate it at buy; 11 analysts give the stock a hold rating. TheStreet Ratings gives eBay an A grade with a buy rating and $42.55 price target. The stock has risen 33.93% year to date.