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PayPal presses on with turnaround in pivotal quarter as sale questions linger
Reuters18d agoneutral
PayPal presses on with turnaround in pivotal quarter as sale questions linger

PayPal doubled down on its turnaround plan on Tuesday, raising its 2026 profit forecast and outlining cost-saving steps, as it looks to convince investors that it is worth more than the $53 billion takeover offer ‌that analysts described as "low-ball". The payments company, once the crown jewel of American financial technology, received a $60.50-per-share bid from Stripe ‌and private equity firm Advent International, Reuters reported earlier this month, citing sources. The offer is a fraction of the roughly $360 billion valuation PayPal commanded as a pandemic-era ​darling in 2021.

From Cracker Barrel to Boeing, Companies Are Turning to Retired CEOs
The Wall Street Journal18d agoneutral
From Cracker Barrel to Boeing, Companies Are Turning to Retired CEOs

In January, a headhunter from search firm Spencer Stuart started calling restaurant industry executives with a proposition: Would you come to Cracker Barrel as the next CEO? Cracker Barrel’s decision to select a 69-year-old former restaurant executive to lead the chain highlights the emerging practice of boards calling in retired chief executives from the sidelines to help engineer high-profile turnarounds. In recent years, Boeing Verizon Communications and others have all chosen once-retired CEOs.

Tech Earnings, Fed Rate Decision: What to Watch This Week
The Wall Street Journal18d agoneutral
Tech Earnings, Fed Rate Decision: What to Watch This Week

Today Earnings (a.m.): Coca-Cola, UPS, Boeing, Sherwin-Williams, Hilton, Centene, PayPal, S&P Global Earnings (p.m.): Visa, Ford Motor, Mondelez International, Waste Management, PPG Industries, Bloom Energy, Avis Budget, Seagate Technology Economic data: Consumer confidence index, Johnson Redbook retail sales index, U.

How PayPal went from Wall Street favorite to unwilling merger target
Reuters26d agoneutral
How PayPal went from Wall Street favorite to unwilling merger target

Five years ago PayPal was a Wall Street favorite and a leader in digital payments. Since then the stock has plunged, Apple Pay dominates payment services in the U.S. and PayPal is facing a takeover bid it does not like. The company synonymous with digital payments this past week got a $53 billion ‌offer to be taken private by upstart rival Stripe and buyout shop Advent International.

Investing.com27d agoneutral
Why would Stripe want PayPal?

Investing.com -- Stripe could gain consumer reach, merchant-processing scale and a stronger stablecoin position by acquiring PayPal Holdings Inc. (NASDAQ:PYPL), though analysts at Cantor Fitzgerald, Bernstein and Mizuho questioned whether the reported $60.50-per-share offer would secure a deal.

Netflix Poised for Biggest One-Day Drop in Years
The Wall Street Journal29d agobearish
Netflix Poised for Biggest One-Day Drop in Years

Netflix shares are trading down more than 10% premarket after the company issued a third-quarter revenue forecast that raised concerns about its growth. The decline took off in earnest last year when Netflix was exploring a bid for Warner Bros. Discovery’s studio and streaming service. Netflix joins a list of other companies—including PayPal—whose stock soared during the pandemic and the following years, only to stumble as investors' attention turned to other areas of the market.

PayPal board sees Stripe-Advent offer as inadequate, sources say
Reuters30d agoneutral
PayPal board sees Stripe-Advent offer as inadequate, sources say

PayPal’s board sees a $53 billion takeover bid by rival Stripe and private equity firm Advent International as undervaluing the company and facing regulatory and financing hurdles, a person familiar with the matter ‌said, potentially setting the stage for negotiations over the future of the U.S. payments giant. PayPal has not formally responded to the proposal, two other ‌sources said. The consortium's bid comes as PayPal, founded in the late 1990s, has struggled in recent years to compete against rivals like Apple Pay and Google Pay, with management trying to revive its flagging ​share price in the face of slowing growth.

Financial Services Roundup: Market Talk
The Wall Street Journal30d agoneutral
Financial Services Roundup: Market Talk

Find insight on the PayPal acquisition, Partners Group, UniCredit, Chinese banks and more in the latest Market Talks covering financial services.

Megacap Tech Lifts U.S. Stocks
The Wall Street Journal31d agoneutral
Megacap Tech Lifts U.S. Stocks

FINANCE U.S. stocks edged higher Wednesday as gains in megacap technology names offset weakness in chip stocks. PayPal surged on reports of a takeover offer and another round of strong bank earnings kept Wall Street in an upbeat mood.