The spin-off was first brought up nine months ago by activist investor Carl Icahn.
Inside the Spin-Off
While eBay insisted that the two companies were better together, the company will now be moving towards a strategy first suggested by Carl Icahn. The separation is expected to be completed in 2015. The news sent shares of eBay soaring on Tuesday morning.
PayPal is expected to have greater potential as its own company, but will face competition from services including Google Wallet and Apple Pay.
Mutual Funds to Watch
|Ticker||Mutual Fund||Portfolio Weight|
|PRBLX||Parnassus Core Equity Investor||2.85%|
|OPPAX||Oppenheimer Global A||2.07%|
|ACGIX||Invesco Growth and Income A||1.74%|
|YACKX||AMG Yacktman Service||1.30%|
|ACEIX||Invesco Equity and Income A||1.19%|
The Bottom Line
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