eBay Separates PayPal, J&J to Acquire Alios BioPharma for $1.8 B

Mukesh Buch
30 Sep, 2014
New York City

eBay to separate its marketplace and PayPal businesses in 2015. Johnson & Johnson plans to acquire privately held Alios BioPharma for $1.8 billion. Walgreen net swung to a loss.

[R]12:40 PM New York – eBay to separate its marketplace and PayPal businesses in 2015. Johnson & Johnson plans to acquire privately held Alios BioPharma for $1.8 billion. Walgreen net swung to a loss.[/R]

Tollbooth Index gained 0.5% or 45.74 to 9,314.30.

Earnings Review

Cintas Corporation ((CTAS)) soared 7.6% or $4.99 to $70.94 after the business support services provider reported total revenue in the first-quarter ending in August edged up 0.2% to $1.10 billion from a year ago period.

Net income in the quarter surged 41.6% to $110.1 million or 93 cents a diluted share compared to $77.8 million or 63 cents from a same quarter last year.

eBay Inc ((EBAY)) surged 7.3% or $3.86 to $56.52 after the online market place plan to separate eBay and PayPal businesses into two independent publicly traded companies in 2015.

Separately, the company had appointed Dan Schulman as new president of PayPal with immediate effect and Schulman will become PayPal''s chief executive officer in the second-half of 2015.

The company expects to complete the transaction as a tax-free spin-off in the second-half of 2015.

Johnson & Johnson ((JNJ)) gained 46 cents to $107 after the health care intends to acquire privately held biotechnology company Alios BioPharma Inc for $1.75 billion in cash.

Synnex Corporation ((SNX)) jumped 1.9% or $1.22 to $63.41 after the business process service provider said revenue in the third-quarter ending in August climbed 29.3% to $3.54 billion from a year ago period.

Net income in the quarter dropped 3.5% to $45 million or $1.15 a diluted share compared to $46.6 million or 19 cents from a same quarter last year.

TravelCenters of America LLC ((TA)) plunged 13.7% or $1.58 to $10.04 after the traveling company said total revenue in the total revenue in the second-quarter ending in June jumped 3% to $2.08 billion from a year ago period.

Net income in the quarter declined 15% to $13.6 million or 36 cents a diluted share compared to $16 million or 54 cents from a same quarter last year.

Walgreen Company ((WAG)) fell 50 cents to $59.10 after the retail drugstore chain reported sales in the fourth-quarter ending in August climbed 6.2% to $19.1 billion a year ago period.

Comparable store sales in the quarter jumped 5.4% and front-end comparable store sales increased 1.3%.Customer traffic in comparable stores dropped 2.2% while Prescriptions filled in comparable stores climbed 3.9% and prescription sales in comparable stores surged 7.8%.

Net in the quarter swung to a loss of $239 million or 25 cents a diluted share compared to profit of $657 million or 69 cents from a same quarter last year.