NEW YORK (TheStreet) -- Shares of eBay Inc. (EBAY) dropped -1.73% to $48.72 in after-hours trading today on the news that its PayPal service is losing its president, David Marcus, to Facebook (FB).
Marcus will become head of Facebook's mobile messaging products which have about 200 million active users.
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Last February, the social networking site acquired messaging startup WhatsApp for $19 billion in an effort to boost its messaging product line.
Shares of eBay had been lower during the day on Monday on the news that its same store sales for May were down compared to April.
TheStreet Ratings team rates EBAY INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EBAY INC (EBAY) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."