eBay Inc(NASDAQ:EBAY) Shares Fall In After Hours After Earnings

Shares of eBay Inc(NASDAQ:EBAY) slid about 2.60% to $47 in after-hours despite the company posted higher than estimated profit and in line revenue in its third quarter.

During the quarter, the company earned $597 million, or $0.45 a share, up 22% year over year. On an adjusted basis, the company earned $718 million, or $0.55 a share, a penny higher than analysts’ estimates of 54 cents a share.

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The company generated revenue of $3.4 billion, increased 15% year over year, in line with analysts’ estimate.

PayPal continued to perform better with 117.4 million active registered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year over year and net total payment volume (TPV) grew 20% year over year to $35.2 billion.

Marketplaces’ Gross merchandise volume (GMV), excluding vehicles, increased 11% year over year to $16 billion in the third quarter of 2012. Marketplaces revenue increased 9% year over year, driven by strong growth in the United States and Asia Pacific

"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," said John Donahoe, eBay Inc. President and CEO. "Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments. With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."

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Apple Inc. (NASDAQ:AAPL) Weighs Tech Sector, while Sprint Nextel (NYSE:S) Hits New High – CLWR, GRPN, EBAY, KITD, PCS, EXPE, LNKD

The tech sector is trading flat on Thursday with Apple Inc.(NASDAQ:AAPL) reumed its downward movement, while Sprint Nextel Corporation(NYSE:S) and Clearwire Corporation(NASDAQ:CLWR) are the notable winners. Technology SPDR (ETF)(NYSEARCA:XLK) is down 0.10%.

Apple Inc.(NASDAQ:AAPL)’s shares resumed downtrend after yesterday’s slight retreat, and the stock was recently down 1.55% to $631.14. The stock has lost almost 10% from its life time high of $705.07 on Sep 21, 2012 just after the launch of iPhone 5.

This morning, there was a good news for its biggest rival, Samsung, where the court has given green signal to Samsung to continue selling its latest Galaxy Nexus smartphone in the US. The US Court of Appeals for the Federal Circuit has approved Samsung’s appeal to lift a ban set by lower court on sales. Samsung wishes to continue selling the phone while challenging a federal judges’ ruling as on 29th June that Apple was likely to win its lawsuit that claimed that Galaxy Nexus violated four Apple patents.

Recently, there have been lot of talk about the company’s potential  to innovate further for its next generation iPhone. The reason is that the company’s latest iPhone was failed to impress its investors due to limited features addition and highly criticized Apple Maps, which was replaced from earlier Google Maps. In fact, today Google Inc(NASDAQ:GOOG)’s chairman Eric Schmidt has iterated what he said earlier in the aftermath of the release of Apple Inc.(NASDAQ:AAPL)’s iPhone5 and the criticism levelled at its mapping software - "Apple should have kept our Maps."

However, still there are some who thinks that the stock is still a good buy at current market price and find it as a good buying opportunity.

Sprint Nextel Corporation(NYSE:S) is making news today as the company confirmed that it has been negotiating a deal with Softbank. Softbank Corp is expected to invest over 1 trillion yen ($12.8 billion) as per the report.

Sprint Nextel is the third-largest U.S. carrier with over 56 million users at end-June and market cap of $15.62 billion of Wednesday’s session.

An analyst at Roe Equity Research estimates Sprint to get an offer of $6.40 a share, witnessing a 27% premium to Wednesday’s closing price.

Shares of Sprint soared 12.40% to $5.66, off its new high of $6.04.

Sprint’s news is pushing Clearwire Corporation(NASDAQ:CLWR) higher as well with the stock soared 52% to $1.97 as Sprint hold 49% of the struggling company. The stock has tripped up circuit breakers

Shares of PCS pared its entire 9% loss for the session and were recently trading flat at $12.01.

KIT digital, Inc.(NASDAQ:KITD) plunged 13% and made a new low although no news has hit the wires explaining the move. Over the course of 2012, KIT has seen management changes, board changes, job cuts, and a 4,000-mile HQ move.

Groupon Inc(NASDAQ:GRPN) shares are rebounding after yesterday’s slump on newsthat eBay Inc (NASDAQ:EBAY) has ventured into what was previously Groupon Inc(NASDAQ:GRPN)’s territory – it has revamped its website and turned it into an online platform for lucrative deals on local services. Shares of GRPN are up over 4%.

Expedia Inc(NASDAQ:EXPE) fell 2.22% after ITG Research claims the company's Q3 domestic sales are tracking to $640M, below a $643M consensus.

Linkedin Corporation(NYSE:LNKD) surged 2.24% after ITG forecasts Q3 revenue will come in at $255M, soundly above a $244M consensus. The business social networking leader has delivered a string of revenue beats, and the Street seems to be pricing in another one.

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Stephen Ju’s Pick among the Tech Stocks – AMZN, GOOG, YHOO, FB, EBAY, GRPN

Ratings on some Internet and tech stock by Credit Suisse show that it is manly the older companies that are seen to be doing well.

Stephen Ju of Credit Suisse has given his ratings on some well-known stocks:

Amazon.com, Inc.(NASDAQ:AMZN) is described as “a best-of-breed technology company that is well positioned to capitalize on the secular growth of e-commerce as a share gainer.”

It has been rated Outperform while its price target has been raised to $301 from $270 a share.

About eBay Inc(NASDAQ:EBAY) the Ju says, “We continue to be positive on eBay’s fundamentals based on our expectation for sustainable double digit revenue growth for PayPal with expanding margins over the long run.."

It has been rated Neutral and target raised to $47 from $41 a share.

On Facebook Inc(NASDAQ:FB) the analyst said, "“We continue to have a positive long-term bias on Facebook, which we consider well positioned to capitalize on social media, and gain share of the ~$360 billion of global brand advertising market given its user scale." rating is Neutral and price target cut to $24 from 434 a share.

Yahoo! Inc.(NASDAQ:YHOO) has been rated Neutral and price target is $19 a share. “We view Yahoo as a perpetual turnaround story; although downside is limited due to its off-balance sheet Asian assets, and undemanding valuation of core business." Ju said that due to the recent changes in management more clarity was needed in its future strategic plans.

Groupon Inc(NASDAQ:GRPN) has been placed at Neutral and price target set at $11 a share.  “We are waiting for the company to deliver on the original strategy of transitioning away from being a more marketing-driven to being more of a technology-driven franchise as it makes use of user behavioural data it has collected to deliver a more relevant deal experience," Ju wrote.

Google Inc(NASDAQ:GOOG) has an Outperform rating and the price target has been raised to $850 from $770 a share. “We continue to believe that Google can grow revenue and earnings at mid to high teens CAGR over the next five year."

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eBay Inc (NASDAQ:EBAY) Steps into Online Deals Category, Groupon Inc(NASDAQ:GRPN) Under Pressure

eBay Inc (NASDAQ:EBAY) has ventured into what was previously Groupon Inc(NASDAQ:GRPN)’s territory – it has revamped its website and turned it into an online platform for lucrative deals on local services. eBay’s latest offering is known as eBay Lifestyle Deals and has offers like $12 for a one-hour dog-walking service worth $25, $180 for six private gym sessions worth $360, and $50 for a month of Yoga classes worth $110.

The transition from product to service is quite a big one for the e-commerce company, but David Wenig, president of eBay Marketplaces states that since they enjoy a loyal user base, it is only fair to try out new ventures and offer a wider range of services along with the basic ones.

eBay has come up with the new section in collaboration with start-up Signpost. The latter is responsible for the deals with local merchants and putting them up on the Lifestyle Deals Section. There will be more daily deal providers on the website if customer reaction is as per expectations. BIA/Kelsey, an agency that tracks the local media industry, reports that consumers in the USwill spend $5.5 billion on online deals by 2016. Groupon Chief Executive Andrew Mason has valued the entire local-commerce market at $3 trillion.

It was Groupon that came up with the daily deal hype back in 2008 and its rise was swift with a whopping revenue of $1 billion annually. Google, Amazon, and Facebook eagerly jumped made their way into this territory but it had a negative impact as customers were not too happy with uncountable deals from so many providers and the growth rate declined. Groupon shares plummeted and Facebook shut down their online deals section, while Google and Amazon are still operating.

eBay Lifestyle Deals is somewhat modeled slightly on Facebook, with a feed that suggests products according to customer preferences by accessing their earlier shopping records. Feeds are customizable so that users can enable the feed to automatically add products. There is a “follow” button that sends relevant notifications to users' News Feeds. This service will soon be available beyond the U.S. as well. Meanwhile, eBay has made other improvements such as making the checkout process more robust and faster by linking a user’s eBay and PayPal accounts and having bigger photos.

Shares of EBAY rose 1.17% to $46.76, while GRPN slumped 4.17% to $5.05.

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