NEW YORK (TheStreet) -- Carl Icahn's war of words with eBay (EBAY) doesn't look to be ending any time soon. This time Icahn has Silicon Valley golden boy and eBay board member Marc Andreessen in his sights.
Icahn has long been critical of the way eBay handled the sale of Skype in 2009. The investment group that purchased the online communication service for $2.5 billion included Andreesen's venture capital firm. Skype then sold to Microsoft just two years later for $8.5 billion. Ichan called him "clueless about corporate governance."
News broke yesterday that eBay had rejected Icahn's nominations for its board and had encouraged investors to do the same. Icahn responded by accusing chief executive Jon Donahoe of "inexcusable incompetence." The billionaire interventionist investor has been publicly critical of eBay for not spinning off its profitable Paypal online payment service into a separate business entity.
eBay confirmed the rejection of Ichan's nominees before today's opening bell. The stock is up 0.76% to $58.66.
TheStreet Ratings team rates EBAY INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate EBAY INC (EBAY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, growth in earnings per share and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."