News Column

PayPal President Stepping Down, Going to Facebook

June 9, 2014

By Hal Lindon

Shares of eBay (NASDAQ: EBAY) are down more than two percent in after-hours trading Monday as the company announced that David Marcus, president of PayPal will be leaving the company.

Marcus will be joining Facebook (NASDAQ: FB) to lead its messaging products.

eBay reassured investors by reaffirming 2015 guidance: "PayPal continues to build good momentum and is on track to meet its guidance for 2015."

eBay shares last traded at $48.45 after closing at $49.58. Shares of Facebook, meanwhile, are trading up about a quarter to around $63.13.

Original headline: eBay Shares Down Following News President of PayPal Will Step Down

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