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PayPal plunged after Stripe and Advent abandoned their takeover bid, putting David Einhorn's new investment under immediate pressure.
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PayPal rejected a $60.50 per share acquisition offer from Stripe, Advent, and Block worth $53 billion, seeking higher compensation. After the bidders withdrew their offer, PayPal stock plummeted 12% to $54. However, the stock remains fairly valued at under 12x earnings with potential for future acquisition interest.
Read original at the-motley-foolFed Chair Kevin Warsh said underlying inflation has not improved, pushing September hike odds to 60%, lifting the 2-year yield
Read original at benzingaUS stocks mixed, Dow up 100 points. Consumer discretionary stocks rise, industrials down. University of Michigan index improves. Elastic, Solstice, and Gap up, while FinVolution, PayPal, and Rubrik down. Oil down 0.5%, gold down 2.2%. European and Asian markets mostly up.
Read original at benzinga