eBay Jumps on Upgrade
NEW YORK (
) -- Online seller
eBay
(EBAY) - Get Report
received a boost on Wednesday, after being upgraded to outperform by Sanford Bernstein.
Analyst Jeffrey Lindsay says eBay has seen improvements in its core online marketplace business and used-car sales. The sooner-than-expected spin-off of Skype is also a positive.
eBay Is a Winner
The news sent shares in the company climbing 4.5% to $22.81 in afternoon trading.
Last week the company said that it will
to a group of investors for about $2 billion.
This move will free up management attention to focus on revamping the core Web site, which has been berated. eBay has generally ranked lower than rival
Amazon.com
(AMZN) - Get Report
with regards to customer service and user experience.
-- Reported by Jeanine Poggi in New York
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