Will This Acquisition Affect eBay (EBAY) Stock Today?

NEW YORK (TheStreet) -- eBay (EBAY) announced the acquisition of Virginia based machine translation company AppTek today.

Terms of the deal have not been released yet.

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The acquisition comes one day after the company's PayPal subsidiary launched its PassPort site designed to generate more international sales for the online payment resource.

eBay shares are up 1.3% to $49.19 on Friday.

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."

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