PayPal Pops in Market Return; Nasdaq Edges to New Record
PayPal (PYPL) was one of the best performers on the S&P 500, rallying in its return to markets.
PayPal (PYPL) was one of the best performers on the S&P 500, rallying in its return to markets. The electronic payments company, which split from eBay (eBay) on Friday, first traded in 2002 before eBay acquired it. Stocks closed with gains, but only barely as a selloff in commodities pressured the energy sector and capped any big moves on Wall Street. Even so, the Nasdaq still scored another record close for its third straight session. Micron Technology (MU) was one of the worst performers on markets on reports executives believe an alleged $23 billion acquisition offer from Chinese chipmaker Tsinghua would likely be blocked by U.S. authorities. Micron spiked last week on reports Tsinghua was close to making an official bid.
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