EBay opposition shares fell the maximum amount as vi % on Th once the e-commerce company forecast a lackluster vacation quarter, prompting a minimum of 9 brokerages to chop share-price targets.
Analysts cut their worth targets by between $2 and $6, to as low as $56. EBay shares were commercialism at $51.54 at high noon.
EBay same on Wed that the U.S. economic setting and shopper confidence had deteriorated, partially due to the conclusion of the U.S. government.
However, many analysts same they were awaiting results from Google opposition afterward Th and Amazon.com opposition next week to urge a far better image of the e-commerce market.
EBay same it expects a profit of 79-81 cents per share for the vacation quarter, in need of the eighty three cents per share expected by analysts on the average.
Macquarie Equities analysis analyst mountain Schachter same he expected eBay to face increasing competition from Google, Wal-Mart Stores opposition and China's Alibaba.